Educational Byte: What Should You Look For in a Self-Custody Crypto Wallet?

Once you’re inside the crypto community, you’re going to read or hear this a lot: Not your keys? Not your coins. The whole point of cryptocurrencies is actually not trading or speculation, but freedom and autonomy. If you control your private keys or seed phrase, then you have full ownership of your assets, and no one can change that. No government, no company, no individual. That’s what a self-custody crypto wallet is for.

By using this type of wallet, which may be an app or physical device, you can keep your coins only within reach of your own hand. It’s a tool that lets you store and manage your cryptocurrencies while keeping control of your own private keys. That means you, rather than an exchange or another company, are responsible for accessing and protecting your funds.

There are tons of brands in the field, by the way. So, what should you be looking for in them to pick a good one?

Security and Transparency

Security is, of course, essential. Any crypto-related product must be as secure as possible, and self-custody crypto wallets need to fulfill this requirement even more. If you have a candidate in mind, never skip DYOR. Look for reviews, both good and bad, but never sponsored ones. This will give you an overview of how the wallet works and whether it's safe to use.