What's the difference between a custodial and a non-custodial wallet?

Pranalikumar1228 Dec, 2023Business

The distinction between Non-Custodial Wallets vs Custodial Wallets lies in the level of control and trust they offer. Non-custodial wallets empower users with absolute control over their cryptocurrency, eliminating the need to rely on third parties. In contrast, custodial wallets necessitate users to place trust in a third party for the management of their cryptocurrency, relinquishing some control in the process.