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Own Your Keys: What are Self-Custody (Non-Custodial) Wallets?

In the world of cryptocurrencies, a "wallet" is a digital tool that grants access to your funds on the blockchain, not a physical leather pouch. There are different types of crypto wallets, but the most crucial categories are custodial and self-custodial wallets. While custodial wallets are managed by a third party, self-custody wallets put you in control of your private keys, meaning you have full responsibility for your funds.