Security tips

When it comes to Wallets, there are two main types: custody and self-custody. The difference lies in who controls your crypto. Here’s what you need to know.

With custody, a crypto exchange holds your crypto. The advantage: your assets are always accessible, and you don’t have to worry about storage. The downside: since they are stored online, they can be targeted by hackers. And if the exchange goes bankrupt, your crypto may—depending on local laws—become part of the bankruptcy estate.

With self-custody, you are the true owner of your crypto and have complete control. You can use online options like apps or offline solutions such as the Cryptonow Wallet®. Offline storage offers the highest level of security. But full control also means full responsibility: if you lose or forget your access credentials, your crypto is gone.