NON-CUSTODIAL

Pertaining to the storage of keys, “Non-custodial” is an umbrella term in the cryptocurrency trade that finds expression in different wallets. Also known as Light Wallets, these allow users to control their funds fully, imbuing fund storage greater security. These include the following:

1.Web Wallets

These keep your keys in your browser. MyEtherWallet and Guarda are examples of such. These allow users to access their account from any device.  

2.Paper Wallets

These permit the printing of public and private keys on a piece of paper. What this means is that the cryptocuurrency is in an offline storage. 

3.Mobile Wallets

This type of wallet can be installed on a smartphone or a tablet. 

4.Desktop Wallets

Installed directly on the user’s computer, a user needs to carefully choose the type of program he or she should download appropriate for the cryptocurrency he or she has. 

5.Hardware Wallets

This is seen by the industry to be the most secure storage solution. These are physical devices like flash drives that do not bear any access to the internet. As this is the case, hackers would not be able to access them.