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What is a custodial wallet?
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[QUOTE="Johnson2468, post: 301583, member: 93261"] A custodial wallet is a digital wallet that keeps digital assets such as bitcoins for its customers. Custodial wallets give a third party control over the security and management of a user's digital assets, in contrast to non-custodial wallets, where users maintain exclusive control over their private keys. The third party could be a custodian service provider with specific knowledge, an exchange, or a financial institution. Custodial wallets are intended to make storing, purchasing, and selling bitcoins easier to use and more accessible for everyone, especially newcomers who might not feel confident handling their own private keys. They provide a greater degree of comfort and usability due to features like password recovery, fast transactions, and round-the-clock customer service. [/QUOTE]
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What is a custodial wallet?
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