🔐 Crypto Wallets Explained — Custodial vs Non-Custodial

When you own crypto, you need a wallet to store it.

But here’s the big question:

Do you want Binance to keep your keys safe, or do you want full control yourself?

That’s where custodial and non-custodial wallets come in.

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🟩 Custodial Wallets — (Binance Wallets)

Your crypto is stored by Binance on your behalf

Binance holds your private keys

You log in with your account, password, and 2FA

If you forget your password, Binance can help recover access

✅ Easy to use

✅ Secure with Binance protections

❌ Less control if the exchange is offline

Example: Your Spot Wallet or Funding Wallet inside the Binance app.

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🟦 Non-Custodial Wallets — (Trust Wallet, Ledger, etc.)

You hold your private keys and recovery phrase

No one can recover your funds if you lose your seed phrase

100% control = 100% responsibility

✅ Maximum control and privacy

✅ Not dependent on any platform

❌ If hacked or you lose your keys — funds are gone forever

Example: Trust Wallet (owned by Binance) or hardware wallets like Ledger.

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💡 Which One Should You Use?

For beginners: Start with a custodial wallet (Binance Spot Wallet) — it’s easier and safer to learn.

For advanced users: Use a non-custodial wallet to store long-term holdings.

Pro tip: Many traders use both — custodial for active trading, non-custodial for long-term storage.

Your wallet choice decides your balance between convenience and control.

In crypto, you are your own bank — so store your coins wisely.

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