Custodial vs non custodial wallets

Custodial Custodial wallets somehow work like a bank

they have control over your funds in custodial wallets centralized exchanges

5 differences between custodial & non-custodial wallets

In non-custodial wallets only you have control over your money

Custodial wallets are in a control of general authorities and

Non-custodial wallets are in the control of its owner

Custodial wallet needs KYC

In Non-custodial wallets, there is no need for a KYC

In custodial wallets, your funds can be recovered if you forget your password

Non-custodial wallets can not be recovered if you forget your passwords

Custodial wallets have a simple interface and its user-friendly

but Non-custodial wallets are a little bit advanced and complicated

Custodial wallets are less secure and can be hacked easily

but Non-custodial wallets are more secure

Examples of custodial wallets are Binance, Coinbase, FTX

Examples of Non-custodial wallets are Metamask and trust wallets

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