A number of non-custodial wallets for Bitcoin, most notably Trust Wallet, are enjoying a lot of success in recent days.
It all stems from the suspension of withdrawals on FTX, and its subsequent failure.
Centralized exchanges like FTX act as custodians of the funds deposited by their customers. That is, the crypto wallets of centralized exchanges are custodial, because the seed and private keys are not held by the users, but by the exchange itself.
This means that even the tokens stored in them are in fact owned by the exchange, and not by the users.
Very famous in the crypto industry is the motto “not your keys, not your coins,” which refers to the fact that if you do not own the private keys (or seed) of a wallet then in fact you do not really own the tokens stored in it either. In such a case the so-called custodian is none other than whoever owns the private keys, and in the case of centralized exchange wallets they themselves are the custodians of their users’ funds
We współpracy z: https://en.cryptonomist.ch/2022/11/14/trust-wallet-bitcoin-custody/
