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Beginners in cryptocurrency World often ask the questions, where can they stores their cryptocurrency?
There are Many wallets out there that is secure for you to store your cryptocurrency.
In cryptocurrency world, wallet are group into two.
1. custodial Wallet As the name imply, Custodial wallet is a wallet which the developers has control over it.
The developers can set a limits of coin you store, and trade with the wallet.
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Example are wallet in cryptocurrency trading platform like, Binance Roqqu , Luno and others.
In this wallets, you will be required to Verify you account before you can use it.
Non custodial Wallet is good for trading, you can also store your coins in it too.
2. Non Custodial wallet
Non custodial Wallet is a wallet which the developers has no control over it.
In Non custodial Wallet, you don’t have to undergo any verification before you can use it.
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In Non custodial Wallet, you are required to create your own wallets yourself, which is only you that will have your phrase keys.
If you misplaced your phrase keys, you can’t regained it back, and that will be end of you accessing the wallet.
But in non custodial Wallet, you don’t have limits of coin to store on it.
The non custodial Wallet is connected to Blockchain, you are going to be charged Gass fee for any transactions in the wallets.
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I will recommend for you that, if want to hold your coins for long times, probably 4 years and above, Non custodial Wallet, like Trust wallet, Metamask, safemoon Wallet, CryptoKara wallet are one of the best wallets to save your Coins.
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