Traditional wallets and self-custody wallets differ in who is responsible for keeping the crypto coins safe.
Cryptocurrency is digital money that uses blockchain technology to secure and record transactions.
One of the main components of owning and managing cryptos is using a wallet.
A wallet is a place where you can store your cryptocurrency.
There are two main types of wallets: traditional wallets and self-custody wallets.
In this article, we will explain the critical differences between traditional and self-custody wallets, the advantages and disadvantages of each, and help you understand the concept of “not your keys, not your coins.” This phrase refers to the idea that to own and control your crypto, you must possess your private keys.
