What are the best practices for choosing between a custodial and non-custodial wallet when dealing with cryptocurrencies?

1 answers

• Hughes ReliefSep 05, 2020 · 5 years ago
  At BYDFi, we believe in empowering our users with the freedom to choose. When deciding between a custodial and non-custodial wallet, it's important to understand the trade-offs. Custodial wallets offer convenience and ease of use, making them suitable for beginners or those who prefer a hands-off approach. However, they come with the risk of relying on a third party. Non-custodial wallets provide enhanced security and control, but require users to take responsibility for their own funds. Consider your level of expertise, risk tolerance, and desired level of control when making this decision. Remember, the choice is yours to make.
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