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Glossary/Non-Custodial Wallet

Non-Custodial Wallet

A wallet where the user alone controls the private keys and funds — "not your keys, not your coins" — versus custodial wallets where a third party holds the keys.

Non-custodial wallets give full control and full responsibility: lose the seed phrase and there is no password reset. Custodial services recover accounts but can freeze or lose your assets.