Your assets, all under your control 🤩
Self-custody wallets, also known as non custodial, are digital wallets that allow you to store and manage your blockchain assets such as cryptocurrencies, tokens or even stablecoins. They are known as non-custodial wallets because you have complete control over your private keys and funds, thanks to the security of the blockchain. While you operate in Arch, everything will be in your own self-custody wallet, so your assets will be always under your control.
The benefits of using self-custody wallets are many 😎.
Enhanced Security: Self-custody wallets enable users to have complete control over their private keys, which are crucial for accessing and managing their funds. By storing the private keys securely on their own devices, users are less vulnerable to hacking and other security risks associated with centralized exchanges or custodial services.
Financial Sovereignty: With self-custody wallets, users have the ultimate ownership and control over their funds. They don't need to rely on third-party intermediaries to hold or access their assets, allowing them to maintain financial sovereignty and independence.
Access to a Wide Range of Assets: Self-custody wallets typically support a wide variety of tokens and cryptocurrencies, giving users the flexibility to manage and store various assets in a single wallet. This convenience eliminates the need for multiple wallets or accounts across different platforms.
Interoperability: Self-custody wallets often support multiple blockchain networks and standards, enabling users to interact seamlessly with different decentralized applications (dApps) and protocols. This interoperability enhances the user experience and facilitates participation in the broader blockchain ecosystem.
Decentralised: By utilizing self-custody wallets, users contribute to the overall decentralization of the blockchain network. They become active participants in the consensus mechanism, eliminating the need to rely on centralized authorities or intermediaries. This trustless nature aligns with the principles of blockchain technology.
And many others!
Overall, self-custody wallets empower individuals with greater control, security, privacy, and accessibility in managing their digital assets. By leveraging these wallets, users can fully embrace the ethos of decentralization and take advantage of the benefits offered by blockchain technology.
There are several popular self-custody wallets available, each with its own pros and cons. Here are a few examples:
MetaMask: This is a browser extension that allows you to access decentralized applications (dApps) on the Ethereum blockchain. It's user-friendly and easy to use, making it a great choice for beginners.
WalletConnect: This is a mobile wallet that connects to various dApps and allows you to interact with them securely. It's compatible with many different blockchain networks, making it a versatile choice.
Ripio: This is a web-based wallet that supports multiple cryptocurrencies and allows you to easily buy and sell them using your local currency. It's great for people who want to use their crypto for everyday transactions.