🌐 Understanding Non-Custodial vs. Custodial Wallets 🌐
At Clockwage, empowering our community means helping you secure your funds with confidence. Understanding non-custodial vs. custodial wallets is essential for safeguarding your investments.
🏦 Custodial Wallets
A custodial wallet is typically found on major exchanges like Coinbase, Crypto.com, Binance, Kraken, etc. In a custodial setup, the exchange holds your private keys—meaning they control access to your funds. If the exchange experiences downtime, security issues, or chooses to lock your account for any reason, your access to your money can be restricted. You’re trusting a third party with your assets, which limits your control.
🔒 Non-Custodial Wallets
In contrast, a non-custodial wallet gives you full control of your assets because you hold your private keys. This setup is decentralized, meaning no third party controls your funds. Some popular examples of non-custodial wallets are Trust Wallet, MetaMask, Exodus, and Ledger. These wallets are designed to give you direct access to your funds whenever you need it.
Using a non-custodial wallet ensures that only you have control over your money. It’s also the recommended approach when investing with Clockwage to avoid potential exchange issues.
📌 Best Practice: Always use your non-custodial wallet as a middle step between Clockwage and exchanges to maintain control of your funds.
💼 Why a Ledger Device?
If you’re ready to take your security to the next level, a Ledger hardware wallet is a great option. This device keeps your private keys secure offline, adding an extra layer of protection. Plus, with the Ledger Live app, you can even purchase cryptocurrency directly.
👉 Get your Ledger device here: https://shop.ledger.com/?r=d83da8dfcc19
Take control of your financial future by learning how to secure your funds and manage them with confidence. Let’s move towards a decentralized approach together!
