What is a crypto wallet?

Despite the name, a crypto wallet has very little in common with the wallet you have in your pocket. A crypto wallet is a place, either digital or physical, where you store the private keys to your cryptocurrency. There are several different ways to store this information – as simple as a piece of paper or as complex as a web-linked wallet.

What is a self-custody wallet?

A self-custody wallet, like Coinbase Wallet, puts you in complete control of your crypto. Non-custodial wallets don’t rely on a third party — or a “custodian” — to keep your crypto safe. While they provide the software necessary to store your crypto, the responsibility of remembering and safeguarding your password falls entirely on you.

What is a non-custodial Crypto Wallet?

With non-custodial crypto wallets, your assets are backed by something called a private key. This functions as a password to your crypto wallet. You must shroud this in secrecy and never tell anyone about it. Should you lose your private key, you’ll be able to use something called a secret phrase, or seed phrase.

What is Trust wallet?

Trust Wallet is a popular mobile online crypto wallet and the official mobile app of Binance, one of the leading cryptocurrency exchanges in the world. Despite its links to Binance, the wallet is non-custodial, which means it does not keep your private keys, and the user is responsible for safeguarding them.