Online wallets are even worse. Just use wallets without registrations. I dont now why people like custody solutions so much
Because it's simple and fast. That is why people like to use online wallets. As long as you store your private key carefully, I believe your property will always be safe and no one will be able to steal it from you.
Online wallets doesn't give you private key, they manage it by themselves so you have no control over your funds, even the authority of that wallet can take all the money and run away still you can't do anything.Wallets with private keys are decentralized but some of them are not really decentralized so choose your wallet wisely.