Hello Friends ! how are you I hope doing well in this article we can be tell about types of wallets to secure 🔐 your funds and is a Crypto Exchange 💱 safe to hold fund in it or not So, Let's Start
Types of Wallets
Thier are two main types of Wallets
Custodial Wallet
Non-Custodial Wallet
So FIRST 🥇 of all we talk about custodial wallet
CUSTODIAL WALLET
Custodial Wallet are those which can be save your funds but you have no private key phrases of this wallet and it can be hold by an other company or Crypto Exchange these wallets are used to sale or purchase crypto with other users. These Wallets are include exchange 💱 Binance or other
Non-Custodial Wallet
These are the wallets which are used to secure 🔐 your Crypto Funds these wallets have Key phrases owned by you and they can be easy to manage by us. About these Wallets said ; "If you have no key you have no fund yours".
These Wallets are manage by us. These are like Binance Web 3 wallet or MetaMask Wallet.
If you have some $BTC you can deposit them in your Non-Custodial Wallet you have your own responsibility and own property this.
Non-Custodial Wallet are your own property but Custodial Wallet is not owned by you
