Remember that most of the people who became wealthy through cryptocurrency had their assets on custody wallets, which they were able to reclaim after a few years.
It is noncustodial, self custody or self hosted wallet.
The simple concept of a cold hardware wallet (Ledger) is not widely discussed in the crypto communities; however, there have been some concerns raised about what happens if the company (Ledger) goes out of business in the future. I came across some of these questions on Reddit and Telegram and will respond to it for those of you who have no idea.
Ledger Nano is just a hardware wallet, not even airgapped, but better than hot wallets. You can setup cold storage wallet on an airgapped device, or make use of of the reputed airgapped hardware wallet.
Ledger nano is not only the hardware wallet existing, there are reputed existing ones like Trezor and some others that are fully open source.