Non-custodial refers to a system where users have full control over their assets, such as cryptocurrencies, without relying on a third party (like an exchange or a bank) to manage or store them. In non-custodial wallets, the user holds the private keys to their cryptocurrency, ensuring security and autonomy.
Think of non-custodial as a safe where only you have the key—no one else can access it, and you are in full control of what’s inside.
- Control: Users have complete control over their funds and private keys.
- Security: No third party holds your assets, reducing the risk of hacking or theft from centralized exchanges.
- Privacy: Non-custodial services give users more privacy since they are not required to trust a third party with personal data.
Imagine you have a safe at home where you store your valuables. You keep the only key to the safe, and you’re the only one who can access it. In a non-custodial wallet, the private keys to your cryptocurrency are yours alone, meaning no one else can control or access your assets.
Non-custodial means you hold the keys to your funds and have complete control, unlike in custodial services, where a third party manages your assets.
Mundo is non-custodial, meaning you control your funds while still benefiting from a user-friendly experience and advanced security features.
How Non-Custodial Works:
- You create and manage your wallet independently, storing the private keys that give you access to your assets.
- Transactions are signed and broadcast directly from your wallet, ensuring you remain in control.
- Your assets are never held by a third party, which protects them from centralized vulnerabilities.
Why Non-Custodial Is Important:
- It puts the power of your digital assets directly in your hands, without reliance on third parties.
- Non-custodial wallets offer enhanced privacy and security compared to custodial alternatives.
- They support the decentralized ethos of blockchain technology, ensuring that you are the sole guardian of your assets.
Got any questions, or is there another term you would like us to explain? Drop the request below.
