Non-custodial wallets are cryptocurrency wallets that give the user full control over their private keys. This means that the user, and not a third party, has sole access to their funds. Examples of non-custodial wallets include software wallets, such as those available as mobile or desktop apps, and hardware wallets, which are physical devices used for storing cryptocurrencies offline.
To securely store crypto in a non-custodial wallet, it is important to follow these best practices:
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Keep your private key(s) safe: Your private key is what grants you access to your funds, so it is crucial that you keep it secure. This means not sharing it with anyone and not storing it on an internet-connected device.
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Use a hardware wallet: Hardware wallets are considered to be the most secure way to store crypto, as they are offline and not vulnerable to hacking.
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Use a strong password: If you’re using a software wallet, make sure to use a strong and unique password to protect your account.
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Keep your software up to date: Make sure that you are using the latest version of your wallet software and that all security updates are installed.
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Make sure to backup your wallet: Create a backup of your wallet and store it in a safe place. This will allow you to recover your funds in case you lose access to your device or it gets stolen.
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Be aware of phishing scams: Be cautious of phishing scams, which are attempts to trick you into providing your private key or seed phrase to a fraudulent website or person. Always double-check the URL of the website you’re visiting and never click on links in emails or messages.
