*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.
If you want to participate in a decentralized crypto network based on full autonomy and sovereignty, a non-custodial wallet is the right choice.
The seed phrase is the basis of the sovereignty that crypto offers: as long as you are the only one who has the seed phrase, you are the only one who can do anything with your crypto wallet. Herein lies the power of crypto, but also a risk. Protecting the seed phrase is essential, because if you ever lose the seed phrase or it is stolen you can lose your crypto and no one can help you.
The seed phrase is like a password for your crypto wallet. It is a series of 12 or 24 words that you get once when creating a new non-custodial crypto wallet. If you do not get a seed phrase, it is probably custodial wallet.
With a non-custodial wallet you have full control: the crypto in your wallet are yours and only you have the seed phrase that gives access. There is no service provider or third party involved and transactions go directly from you to the recipient.
This provides a lot of freedom, but also responsibilities. After all, if something goes wrong, you are on your own and there is no service provider to help or protect you.
Are you new to crypto? Then try it out with a small amount first. If you are a more familiar with crypto, a non-custodial wallet is definitely the way to go. Most importantly, make sure to store and protect your 12 or 24 seed phrase words safely offline.
Save my name, email, and website in this browser for the next time I comment.