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Crypto Wallets: Non-Custodial vs. Custodial


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Non-Custodial Wallet (Example is Guapcoin)

  1. Think of this class of Crypto Wallet like a bank account with a bank account number (your wallet's public address) and your PIN number (your wallet's private Key)
    1. A Guapcoin wallet ( mobile or desktop) is free!
  2. You are in total control of your money!  You don't need a third-party to conduct transactions involving your money!  All transactions are initiated by you on the Guapcoin blockchain.
  3. You can conduct transactions 24/7.  The blockchain is the Tool to complete your transactions in a Trustless secure environment (i.e, no humans or organizations are involved) 

Custodial Wallet (Example is Coinbase)

  1. Coinbase has possession of your Wallet's Private Key and is responsible for it's safe-keeping.
  2. You must provide Coinbase with your personal information (KYC) to get a wallet with them!
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