Crypto wallets are essential for storing and managing cryptocurrency holdings, but they come in different forms that cater to various needs and preferences.
Custodial wallets have a third-party manage private keys on behalf of the user, making them easy to use but potentially less secure. Non-custodial wallets, on the other hand, give users full control over their private keys, which can be stored locally or online through software-based solutions.
When choosing a crypto wallet, it's essential to consider factors such as security features, supported blockchains, ease of use, and compatibility with decentralized finance (DeFi) applications. Hardware wallets offer the highest level of security by storing private keys offline, while software wallets provide convenience but may be more susceptible to cyber threats.