Cryptocurrencies are a popular alternative investment for people who want to secure their savings from volatility, or who simply distrust banks and government institutions. However, this poses a unique security risk for those who own the coin outside of a custodial wallet. Without access to the account owner’s private key, it is impossible for anyone other than the original owner to spend the funds.
That’s why it’s important to have a non-custodial wallet as your primary storage option. Here are some of the best non-custodial cryptocurrency wallets available today.
What is a Non-Custodial Wallet?
A non-custodial wallet is a digital wallet that allows users to store and manage their own crypto assets. Unlike a custodial wallet, which is managed by a third party, a non-custodial wallet gives users complete control over their own funds. This means that users are responsible for their own security, and no one else can access or manage their funds.
Non-custodial wallets are often considered to be more secure than custodial wallets, as they eliminate the risk of third-party theft or mismanagement.
1. Coinomi Wallet
Coinomi is an easy-to-use, open-source wallet that supports a wide range of both cryptocurrency and fiat assets. You can store and trade almost any coin on the market through this wallet, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ethereum Classic, etc. It supports a large number of fiat currencies and has a built-in exchange feature that allows you to trade them easily.
The wallet is available for both Android and iOS and provides a simple and easy-to-use interface. It supports a large number of assets, including SHAPESHIFT and Changelly for exchange, as well as in-wallet transactions.
2. EXODUS Wallet
Exodus is one of the oldest and most popular non-custodial wallets out there. It allows you to store, send, and receive almost any coin available today, while also providing advanced security features to keep your funds safe. One of the best things about the wallet is that it allows you to operate in a completely trustless environment.
This means that you don’t have to worry about who is running the server, as you can access the wallet through a single address where anyone can send funds. The wallet itself is available for both Android and iOS. It supports a large number of assets, including ShapeShift for easy exchange, in-wallet transactions, and advanced security features such as multi-signature (multisig) wallets.
3. MetaMask
MetaMask is a completely browser-based wallet solution that also functions as a bridge to connect your digital assets with their legacy counterparts. Thus, you can use it to access your Ethereum or ERC-20 token holdings, while also making transactions with any other wallet that supports those tokens. One of the best things about METAMASK is the sheer number of assets that the wallet supports. This includes both popular altcoins such as Ethereum and ERC-20 tokens, as well as obscure tokens and assets that are not yet on many other wallets.
In addition to the broad range of assets, another fantastic feature of the wallet is the ease with which one can access the wallet through Tor. This helps to protect one’s anonymity and helps to maintain complete anonymity for all transactions. MetaMask is available for both desktop and mobile. It provides an easy-to-use interface and supports a large number of assets.
4. COINBASE Wallet
Coinbase is one of the most popular and trusted wallets for storing and trading cryptocurrencies. With its easy-to-use interface, the wallet allows you to easily buy and sell coins, as well as manage your investments. The wallet is available for both desktop and mobile and provides a comprehensive overview of all your investments. It also allows you to easily view your portfolio, perform trades, and manage your portfolio.
Another fantastic feature of Coinbase is the stored asset feature. This allows one to easily view, send, and receive all stored assets, including both cryptocurrencies and fiat. You can securely store digital assets in a series of offline “wallets” controlled by Coinbase. You can easily view all stored assets from the wallet, and you can easily send the funds to other wallets.
5. MyEtherWallet
MyEtherWallet is a completely open-source wallet solution that allows you to access your Ethereum holdings without the need for an account on an exchange. This means that your funds are fully decentralized, not tied to any particular service, and not controlled by any specific entity. The wallet is available for both desktop and mobile and provides an easy-to-use interface.
Like other wallets, you can store your funds offline in a secure location, while also providing full access to the funds. Another fantastic feature of MEW is its ease of use with almost any type of device. This means that you can use it on any computer, tablet, or mobile device, including both Android and iOS devices.
What is the Best Non-Custodial Crypto Wallet for You?
The best non-custodial crypto wallet for you will depend on your specific needs and preferences. However, there are a few things to keep in mind when choosing a non-custodial crypto wallet, such as security, ease of use, and support assets.
Security is undoubtedly the most important consideration when choosing a crypto wallet, as you want to be sure that your funds are safe and secure. A non-custodial wallet gives you full control over your private keys, which means that you are the only one who can access your funds. This makes non-custodial wallets much more secure than custodial wallets, which are typically less secure and more vulnerable to hacks.
Ease of use is also an important consideration, as you want a wallet that is easy to set up and use. Some non-custodial wallets can be more complex than others, so it is important to find one that is user-friendly and intuitive.
Finally, you will want to consider which assets are supported by the wallet. Not all wallets support all assets, so it is important to find one that supports the assets you want to use.
Taking all of these factors into consideration will help you choose the best non-custodial crypto wallet for you.
Conclusion
The best non-custodial wallet is the one that you are comfortable using. If you prefer the ease of a desktop wallet, then use that. If you prefer an iOS or Android app, then use that.
The most important thing is to make sure that your chosen wallet is fully protected and that you are comfortable with the interface. It is also important to make sure that your chosen wallet is capable of handling the number of assets that you want to store.
What crypto wallet do you currently use?
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