Non-custodial wallets, also known as self-custody wallets, are digital wallets that provide users with complete control and ownership of their cryptocurrency assets by allowing them to manage their private keys independently. These can be both hot and cold wallets. Hot non-custodial wallets are web wallets, mobile wallets, desktop wallets and web3 wallets.

Some of the key characteristics of non-custodial wallets are:

Providing control of your Private Keys, thus they give you full ownership and control over your funds.
Enhanced Security (as prioritise user privacy and security).
Responsibility and Self-Sufficiency: users bear the responsibility of managing their own security, backups, and private keys, including safeguarding the wallet’s seed phrase, ensuring regular backups, and adhering to best practices for wallet security.
Flexibility and Interoperability: they enable interacting with different decentralised applications (DApps).
Trustless Nature: they operate on the principle of trustlessness, which means users do not need to rely on a third-party service provider to secure their funds. Instead, the security and control of assets are placed directly in the hands of the wallet owner.

Non-custodial wallets empower individuals to maintain ownership, control, and privacy over their digital assets. However, it's important to note that with great control comes great responsibility. Users must be diligent in protecting their private keys and seeds/backups, implementing strong security measures, and staying informed about potential risks and best practices to ensure the safety of their funds.

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