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Protecting your digital assets is one of the most important aspects of decentralized finance and banking. One way to protect your cryptocurrency investments is to have full control over your private keys. This ensures that no third party can interfere with the security of your cryptocurrencies. This is where non-custodial wallets come in. But with a huge list of wallets available, not to mention the additional variants of hot and cold wallet options, you may be wondering, which non-custodial wallet is best? Read on for our list of the top 5 non-custodial wallets for 2024.
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Non-custodial vs. custodial wallets
Before we dive deeper into the best non-custodial wallets of 2024, here’s a quick explanation of what a non-custodial wallet is vs. a custodial wallet.
To put it simply, it’s all about Property. A custodial wallet is where a third party, such as an exchange, stores and manages your keys.
These types of wallets are vulnerable to hacking and fraud. On the other hand, non-custodial wallets give you access to your private keys, which means that hackers have almost impossible access to your investments.
Optimal security is achieved through the winning combination of a non-custodial exchange and a cold hardware wallet.These exchanges offer enhanced protection and control of keys compared to traditional banks, although the Internet connectivity inherent in these exchanges may still pose some security risks.
What are the best non-custodial wallets for 2024?
After conducting extensive research, and considering many different aspects and features of the non-custodial wallets on the market, we have compiled a list of some of the best wallets – along with their pros and cons of course.
Bitcoin Material
Undoubtedly, Bitcoin tops the list because it is a cold wallet. which can be held Ethereum, Bitcoin and USDT, resulting in a highly secure, non-custodial wallet where your data and private keys are never connected to the internet. Additionally, it is actually made of AISI 304L stainless steel making it virtually indestructible.
👍Pros: It is safe, secure, physically and mentally protected, and gives you complete ownership.
👎cons: Although it is the most popular and stable cryptocurrency in the market, Material Bitcoin only holds Ethereum, Bitcoin, and USDT.
Trust Wallet
Trust Wallet is a popular choice for a non-custodial wallet, offering a wide range of cryptocurrencies to hold, supporting over 70 blockchains, which translates to around 4.5 million different cryptocurrencies and NFTs.
👍Pros: Easy to use even for beginners. Available to connect to a variety of decentralized applications.
👎Cons: Trust Wallet does not have Cold storageTherefore it is connected to the Internet and can be vulnerable to hacking. 
Metamask
MetaMask allows you to store your private keys and Ethereum-based cryptocurrencies. MetaMask is probably one of the most popular wallets available, allowing you to buy, trade, and sell your cryptocurrencies directly from your wallet.
👍Pros: It is easily accessible through mobile app or web browser.
👎Cons: Browser extensions have been linked to security breaches and leaks. 
Blockchain.com
Blockchain.com is another popular choice among cryptocurrency investors and traders. It’s a reputable non-custodial wallet that lets you manage a variety of cryptocurrencies.
👍Pros: It offers two wallet options. The first option allows you to store and keep your cryptocurrencies private, while the other wallet option allows you to trade different currencies and markets, and supports USD, EUR, GBP, and TRY.
👎Cons: Customer service is almost non-existent. 
Guarda wallet
Guarda Wallet is known as a multi-platform and decentralized wallet, and it provides investors with many features including storing, trading, and exchanging a variety of cryptocurrencies.
👍Pros: Guarda Wallet is known for its customer support and service – which has been a highly valued aspect for many users.
👎Cons: Guarda is a hot wallet, which means it relies on the internet (apps, web pages, etc.) to manage and store your cryptocurrencies, making it vulnerable to hackers and scammers. 
As you can see from our list of non-custodial wallets, there are many options available to choose from. Some of them offer: Hardware OptionsThere are different types of wallets, such as paper wallets or offline wallets, while others are hot wallets that rely on the internet to store keys and investments. No matter which wallet you choose, make sure you are fully aware of all the options and features that each wallet offers you.
Frequently Asked Questions About Non-Custodial Wallets
Whether you’re a seasoned investor or new to the world of cryptocurrencies, you may find yourself wondering some key questions. Here are some frequently asked questions about non-custodial wallets that will help you make the right choice for your investments:
Why choose a non-custodial wallet?
Choosing a non-custodial wallet is the essence of decentralization in cryptocurrency. By holding your private keys, you can Eliminate the need to trust a third party with your assets.This approach enhances your security and ensures direct ownership and access to your funds.
How do I get a non-custodial wallet?
Depending on the non-custodial wallet you choose, you can order your physical or paper wallet online or download an app that has several hot wallets.
Are non-custodial wallets hackable?
Yes…and no. This is a tricky question because the main variable in this question is whether a non-custodial wallet is a hot wallet or a cold wallet. Bitcoin doesn’t need an app or any electronic components, which means there’s nothing that hackers or scammers can access to steal your private information or cryptocurrency. Other non-custodial wallets may still be vulnerable to hacking if they are hot wallets.
What is the most secure non-custodial wallet?
Simply because it is a non-custodial and cold wallet, Material Bitcoin is the most secure wallet you can rely on to protect your cryptocurrency.
What is the best self-custodial hardware wallet?
Physical Bitcoin doesn’t just offer a cold wallet that lets you store Ethereumbitcoin, and titcoinbut it is virtually indestructible because it is 100% stainless steel plate.
Non-custodial Wallet Tips for 2024
As the world of decentralized banking continues to grow and the wide variety of cryptocurrencies evolve, the concept of security remains on everyone’s mind. So, what are the key points to remember when choosing a non-custodial wallet for your crypto investments?
- Consider your preference for a cold or hot wallet.
- Do you want to access via mobile apps or web browser pages?
- Be careful about the cryptocurrencies you invest in and trade, as there is no single cryptocurrency wallet that offers all cryptocurrencies. According to Statista.com, in December 2023, there were around There were 9000 different cryptocurrencies..
Protecting your funds and investments is paramount when buying, storing, and exchanging cryptocurrencies, and we hope our list of the top 5 non-custodial wallets has given you some insight.
