Crypto #glossary kickoffEach week, we'll briefly explain a few useful crypto terms. You can find the topic of interest using the hashtag #glossary in the title. Today, let's break down the difference between two types of crypto wallets:
Custodial Wallet — a custodial wallet is managed by a third party. Using a custodial wallet offers simplicity and convenience, and you have the option to regain access. This makes it an ideal option for beginners.
Non-custodial Wallet — a non-custodial wallet is managed solely by you. Access is granted via a secret phrase (or seed phrase), and all transactions occur on the blockchain. Losing your secret phrase means losing access to your assets, however, such wallets provide enhanced control over your digital assets, making them perfect for experienced users.
Simply put, Wallet is a custodial service, while TON Space is non-custodial
