Post
Topic
Board Bitcoin Discussion
Re: What things do you study while choosing a wallet?
by
Josefjix
on 05/05/2023, 15:07:12 UTC
the most important thing I see when choosing a wallet and I think everyone should consider that too is that either the wallet is a custodial wallet or non-custodial. always choose a good non-custodial wallet where you have full authority of your keys and funds. although some custodial wallets are also pretty secure but they always have risk of getting hacked or they can even shut down withdraws in some occasions like what happened in recent FTX collapse. but with a non custodial wallets you will not have to worry anything about that and can freely move your funds anywhere you want.
This is cryptocurrency, so we shouldn't expect much and should be prepared for the worst; it's not safe anywhere in the space, and the FTX collapse was entirely the result of hackers infiltrating the security firewall and shutting down the bots. Hacks are routinely seen everywhere, and they are most recent headlines in the market. Keeping our 12 phrasal keys hidden from people because it's dangerous to expose them to the public, not even your best friend should know about it. Non-custodial wallets are simple to use and secure. Traders prefer to utilize these wallets for safer coin storage, as opposed to custodial wallets, which need the presence of a third party.