What Is A Non Custodial Wallet

When you leave the crypto you've purchased in the custody of a centralized exchange like Coinbase or Binance, you don't technically own the crypto. You lot only own an IOU for it, and that IOU is just as expert every bit the solvency of the exchange that holds it for you.
To really accept ownership of the digital assets you've purchased, yous take to movement the private keys for them from the custody of the exchange to a non-custodial wallet.
Finder'south best non-custodial wallets for 2023
- Ledger Nano 10 – All-time non-custodial wallet overall
- Ledger Nano Due south Plus – Best value non-custodial wallet
- Exodus – Best non-custodial wallet for beginners
- Trezor Model T – All-time advanced non-custodial wallet
- Ledger wallets – All-time non-custodial wallets for staking
- Diminutive Wallet – Best non-custodial desktop wallet
- Trust Wallet – All-time non-custodial mobile wallet
- Coinbase Wallet – All-time non-custodial exchange wallet
- MetaMask – All-time non-custodial Web3 wallet
- COLDCARD Mk4 – Best non-custodial wallet for Bitcoin
- Trezor Model I – The original non-custodial wallet
- XDEFI Wallet – All-time non-custodial wallet for NFTs
- Billfodl – Bonus: Best recovery phrase back-up device
Each year, we conduct an all-encompassing review of the best non-custodial wallets bachelor in the The states. To go far at our picks, we review the best not-custodial wallets on the market for overall safe, functionality, cost and supported digital assets – including coins, tokens and NFTs. The safest non-custodial wallets are hardware wallets, but we've included a range of options to assist you weigh up which is best for your needs.
Disclaimer:
This page is not fiscal advice or an endorsement of digital assets, providers or services. Digital avails are volatile and risky, and past performance is no guarantee of hereafter results. Potential regulations or policies can touch on their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may ain cryptocurrency discussed on this folio.
1. Ledger Nano S Plus – Best non-custodial wallet overall
Ledger Nano S Plus Wallet
$79
Toll (USD)
5,500+
Avails
Hardware wallet
Blazon
- Why we chose it
- Pros & cons
The Nano S Plus is our pick for the best not-custodial wallet overall thanks to Ledger's robust security, broad range of cryptocurrencies and NFTs all at the affordable price indicate of US$79.
The Nano South Plus is a hardware wallet manufactured by French company Ledger, which has been around since 2014. Ledger wallets have a make clean security track record, with no hardware breaches recorded.
The accompanying Ledger Live app too allows you to swap cryptocurrencies, buy them with debit or credit card or put them to piece of work via staking. You tin also sync your device with MetaMask to interact with DeFi protocols while keeping your private keys safely offline.
You'll exist hard-pressed to find another wallet that offers and so much value at such a moderate price.
- Cheaper than the Nano Ten, simply has most of the aforementioned features
- Supports five,500 tokens
- Highly secure
- CC EAL five+ rating
- Not Bluetooth enabled
- Not iOS compatible
ii. Ledger Nano 10 – Best non-custodial hardware wallet
Ledger Nano X Wallet
$149
Cost (USD)
5,500+
Assets
Hardware wallet
Type
- Why nosotros chose information technology
- Pros & cons
The Ledger Nano X is one of the best-known and characteristic-rich hardware wallets on the marketplace. Its robust security, back up for a wide range of cryptos and connectedness to both desktop and mobile interfaces are some of the reasons it was our pick for the best non-custodial hardware wallet.
Ledger has a long track tape of providing manufacture-standard level security for digital assets.
The Nano X hardware is supported by the Ledger Live app, which helps you manage up to 5,500 cryptos, Ethereum and Polygon NFTs and a range of DeFi apps from a single user interface bachelor on both desktop and mobile.
You can also stake a selection of your digital avails via Ledger Live.
The Nano X is Bluetooth-enabled and compatible with both Android and IOS mobile devices, so you can manage your crypto on the get.
- Manage over 5,500 crypto assets
- Highly secure
- CC EAL 5+ rating
- Mobile and desktop compatibility
- Expensive compared to the Nano S Plus
- Can't stake many cryptos via Ledger Alive
3. Exodus – Best not-custodial wallet for beginners
Exodus Wallet
Free download
Price (USD)
290+
Assets
Mobile wallet
Desktop wallet
Web3 wallet
Type
- Why we chose information technology
- Pros & cons
Exodus Wallet is a software wallet for desktop and mobile that provides admission to a wide range of cryptocurrencies. While many wallets only let you manage coins on a single network, Exodus supports avails on blockchains including Bitcoin, Ethereum, and Solana. This all-in-one functionality makes it our top wallet pick for beginners.
The wallet has added features like a portfolio overview that help you to oversee your holdings. And if you'd similar to pinnacle upward your portfolio, you tin can use the wallet'south congenital-in exchange to swap your digital assets.
You can also stake cryptos like Algorand (ALGO) and Cosmos (Atom) through Exodus.
For added security, you lot can shop the keys to your assets on a Trezor hardware wallet, making it easy to upgrade from i to the other if you lot decide to go pro.
One of Exodus's about beginner-friendly features is its highly-responsive support staff. If you email them for support, you lot can wait to hear dorsum within an hour.
- Easy-to-apply interface
- Supports tokens and coins from a variety of blockchains
- Great customer support
- Less secure than a hardware wallet
- Doesn't support two-gene authentication
4. Trezor Model T — All-time advanced non-custodial wallet
Trezor Model T Wallet
$219
Price (USD)
i,470+
Avails
Hardware wallet
Type
- Why we chose it
- Pros & cons
The Trezor Model T gets our selection for best non-custodial wallet for experienced users considering information technology offers a suite of advanced features that will actually entreatment to pros.
1 of those features is the wallet'south multisignature — or
multisig
— capabilities. Multisig provides an added layer of protection for Bitcoin, equally multiple stakeholders must sign off on any transactions.
The Trezor Model T also supports
Taproot
— an upgrade to the privacy of the Bitcoin network. It also reduces transaction fees and allows users to engage with BTC smart contracts.
If anonymity is important to y'all, you can anonymize your transactions via the
Tor network
using the Trezor Suite interface.
Yous can as well uti the novel
Shamir fill-in
system with your Model T. The Shamir fill-in distributes your recovery phrase across multiple recovery shares, which can be stored in different locations for added security.
- Features a large touchscreen
- Offline storage for 1,800 avails
- Multisig protection for your Bitcoin
- Offers transaction anonymity
- Can exist synced with third-party apps for DeFi
- Tin sync with Exodus Wallet for improved usability
- Ane of the more expensive hardware wallets
- Minor number of blockchains supported
- No native staking in Trezor Suite
five. Ledger wallets — All-time non-custodial wallet(s) for staking
Ledger wallets
$79
Price (USD)
5,500+
Assets
Hardware wallet
Type
- Why we chose it
- Pros & cons
We chose Ledger's range as the all-time non-custodial wallets for staking because the Nano X, Nano S Plus and even the retired Nano S tin be used to stake a broad variety of crypto assets.
Yous tin can employ the native Ledger Live interface with any Ledger hardware wallet to pale a limited range of 12 different cryptos — including Ether (ETH), Polygon (MATIC) and Solana (SOL).
To stake an even greater assortment of digital assets, you can sync your Ledger hardware wallet with tertiary-party apps similar MetaMask or Yoroi and use these software wallets every bit a bridge to staking interfaces — all while safely storing the private keys to your assets offline.
- Pale up to 12 cryptos via Ledger Live
- Easily synced with third-party software to stake a wider variety of assets
- Keeps the private keys to assets stored offline while staking
- Staking certain avails via Ledger Live can be a bit complex
- Syncing your Ledger wallet with 3rd-political party software can exist complicated at first
half dozen. Atomic Wallet – Best non-custodial desktop wallet
Atomic Wallet
Complimentary download
Price (USD)
1,420+
Avails
Mobile wallet
Desktop wallet
Type
- Why we chose it
- Pros & cons
Atomic Wallet is our pick for best non-custodial desktop wallet thanks to its support for over 500 crypto coins and tokens beyond more than than 50 blockchains in a unmarried app – and it'south bachelor on Windows, Mac and Linux.
Its easy-to-utilise interface makes it a popular choice for beginners and pros alike.
The wallet was launched in 2017 by Konstantin Gladych, CEO of Changelly. Changelly is a decentralized crypto exchange congenital into Atomic Wallet, allowing you to swap cryptos or purchase them with a credit or debit menu.
You can stake 10+ digital avails including Cardano (ADA), Creation (ATOM) and Tezos (XTZ), and the wallet features an NFT gallery for the Solana blockchain.
If you run into any problems while using Atomic Wallet, yous tin can attain out to its 24/7 client back up team.
- Easy-to-navigate interface
- Born decentralize commutation
- Supports staking for various cryptos
- Just supports NFTs on Solana
- The in-built substitution charges a high fee and the minimum spend tin can be loftier for sure coins
7. Trust Wallet – All-time non-custodial mobile wallet

Trust Wallet
Free download
Price (USD)
4,500,000+
Avails
Mobile wallet
Spider web browser wallet
Type
- Why nosotros chose it
- Pros & cons
Trust Wallet supports coins and tokens from 65 different blockchains. This saves you the hassle of downloading multiple wallet apps and makes it our standout pick for the best non-custodial mobile wallet.
Trust Wallet lets you quickly import popular coins and tokens, view charts and pricing information and receive notifications directly to your mobile device.
If you lot want to view cryptos that aren't listed by default, Trust Wallet also lets yous import custom tokens. Yous'll need to be conscientious to verify contract addresses when doing this, equally anyone tin can create faux versions of existing cryptos.
You lot can likewise connect to dApps and DEXs that back up the Wallet Connect extension. As an added convenience, yous can also buy cryptos with fiat through third-party providers like Moonpay and stake assets straight from your Trust Wallet.
- Built-in decentralized exchange
- Stake cryptos directly from your wallet
- Buy cryptos with credit and debit card
- Supports Bitcoin transfers
- NFT back up
- Built-in DEX only supports BSC assets
- NFTs only supported on Ethereum and BSC
- Withdrawals to bank accounts non available from wallet
- No browser extension
viii. Coinbase Wallet – Best not-custodial exchange wallet
Coinbase Wallet
Free download
Price (USD)
450,000+
Assets
Mobile wallet
Desktop wallet
Type
- Why we chose it
- Pros & cons
The Coinbase Wallet doesn't require a Coinbase account to utilize it but verified business relationship holders can connect straight to Coinbase's exchange to buy crypto. This seamless integration makes it our choice for the all-time non-custodial exchange wallet.
The Coinbase Wallet tin be downloaded equally a mobile app or browser extension and features an easy-to-navigate UI consistent with the Coinbase exchange. The wallet is automatically configured to support many blockchains, including all EVM-compatible chains, Solana, Fantom Opera and more than.
Security on the Coinbase wallet is consistent with the industry standard for non-custodial wallets, which means it does come with some counterparty risk. If convenience and piece of cake access to your funds on Coinbase is of import to y'all, then this exchange wallet has a lot to offer.
- Sync direct to Coinbase exchange
- Mobile app and browser extension
- Preconfigured blockchains
- Purchase with selected fiats in-wallet
- Coinbase company bankroll
- Fee for coin swaps in the wallet
- No DEX in the wallet, you must connect to an external commutation
ix. MetaMask – Best non-custodial Web3 wallet
MetaMask Wallet
Free download
Toll (USD)
450,000+
Assets
Mobile wallet
Web browser wallet
Type
- Why we chose it
- Pros & cons
With over 30 one thousand thousand monthly active users at the fourth dimension of writing, MetaMask is a crowd favorite and considered the go to for Web3 apps, making it an easy pick for best not-custodial Web3 wallet.
MetaMask was one of the first non-custodial wallets to aid open the door to the world of Web3 and DeFi. Operating on both desktop and mobile devices, MetaMask lets you connect to dApps, shop NFTs and digital assets and merchandise cryptos across several dissimilar blockchains.
A key feature behind the popularity of MetaMask's Web3 wallet is the ability to purchase and sell cryptos without providing any personal information. To first trading on DeFi exchanges you simply install the app or browser extension and log in using your individual seed phrase.
Your MetaMask seed phrase acts every bit a password, login and proof of ownership all in one. Your data is not stored on any database and asset ownership is entirely in your hands; an important element of decentralization.
- Piece of cake to ready and install
- No personal identification required
- Supports multiple blockchains, including testnets for dApp development
- No native Bitcoin support
- Incorrect storage of private keys can result in hacks and lost funds
- Limited technical back up
10. COLDCARD Mk4 — All-time non-custodial wallet for Bitcoin

COLDCARD Mk4
$147.94
Price (USD)
1
Asset
Hardware wallet
Type
- Why we chose it
- Pros & cons
As a specialist Bitcoin cold storage wallet, the COLDCARD Mk4 doesn't have as many of the features of Ledger or Trezor devices, but it does keep the private keys to your BTC stored deeply offline.
The COLDCARD Mk4 was created by cypherpunks — technologists who advocate for privacy-enhancing cryptography — for Bitcoin maximalists.
Like Ledger hardware wallets, the COLDCARD Mk4 uses a Secure Element flake — the same type of chip found in passports and credit cards — to protect the private keys to your Bitcoin.
Using the Sparrow Wallet desktop software and a microSD carte du jour, y'all can send Bitcoin to and from your COLDCARD Mk4 without e'er plugging the device in. The obvious downside to this is that you'll have to buy a microSD carte du jour adapter for your computer if you plan to transfer data this manner.
- Highly secure
- Contains 2 Secure Element chips
- Doesn't require a connectedness to computer
- Features a high-contrast 128 x 64 pixel screen for messaging
- Multisig enabled
- Only supports BTC
- The user interface for Sparrow Wallet is less intuitive than competitor alternatives
- You volition have to purchase a microSD card adapter for your reckoner if yous adopt to transfer information via the card
11. Trezor Model One — The original non-custodial wallet
TREZOR 1 Wallet
$69
Price (USD)
one,280+
Avails
Hardware wallet
Type
- Why nosotros chose information technology
- Pros & cons
We wanted to give a shoutout to the Trezor Model One — the original non-custodial hardware wallet — because Trezor has been pioneering the fashion for offline private key storage since 2012.
The Trezor Model One was released only months after the infamous Mt. Gox crypto substitution hack in February 2014.
Many investors had only learned the hard way that if you don't agree the individual keys to your digital assets, they aren't technically yours. The Trezor Model 1 was a showtime-of-its-kind mode to guarantee cocky-custody through this era, and it's kept a laudable rails record e'er since.
So, while the Trezor Model One might not have the highest functionality of all the hardware wallets on the market place today, it remains a dependable option at an affordable price signal.
- Supports over ane,000 crypto assets
- Piece of cake-to-use native Trezor Suite interface for your computer
- Moderate cost point
- Not compatible with iOS
- Minor number of blockchains supported
- No native staking support via Trezor Suite
12. XDEFI Wallet – Best not-custodial wallet for NFTs

XDEFI Wallet
Free download
Price (USD)
ten,000+
Assets
Web browser wallet
Blazon
- Why we chose it
- Pros & cons
XDEFI is a blockchain-agnostic wallet that lets you lot showcase NFTs from more than 15 different blockchains side-by-side. It's this breadth that'due south made it our superlative selection if you're looking for a dedicated non-custodial NFT wallet.
The wallet'southward streamlined, cross-chain UI makes sending, receiving and trading NFTs and cryptos beyond blockchains uncomplicated and user-friendly.
Once the browser extension is installed, accounts can be prepare up straight in XDEFI or imported from external wallets. Preconfigured blockchains include ETH, BSC, Arbitrum, Thorchain, Bitcoin and more.
XDEFI also gives yous the ability to consummate in-wallet swaps and buy cryptos using any currency through its fiat onramp.
Holders of the wallet's own token, XDEFI, tin can stake their holdings to earn trading rebates and collect utility NFTs.
- View NFTs and assets across unlike blockchains in a single gallery
- Easily import custom tokens
- Earn rewards through staking XDEFI token
- Value of staking incentives depends on operation of the XDEFI token
- Sell-to-fiat feature not currently supported
- Browser extension just, mobile app not available
Bonus: Billfodl — Best recovery phrase backup device
Billfodl
$99
Price (USD)
N/A
Assets
Seed backup device
Type
- Why nosotros chose it
- Pros & cons
We chose to requite Billfoldl an honorable mention every bit the best recovery phrase backup device because information technology helps protect your chosen hardware wallet's recovery phrase from fire, flooding and any type of decay.
Most hardware wallets will prompt you lot to write down your recovery phrase on a sheet of paper when you ready your wallet. But if your recovery phrase canvass gets damaged or lost, you tin lose admission to your crypto – permanently.
Billfodl is a solid steel case that allows you to stamp your 24-discussion recovery phrase using metallic tiles engraved with letters.
The tiles slide into iii different rows on both sides of the device, and the device comes with a embrace that swivels over your recovery phrase once y'all've properly arranged the tiles.
It's worth considering the added layer of security and peace of mind afforded by recovery phrase backup devices similar Billfodl if y'all invest in a hardware wallet.
- Preserves your recovery phrase much amend than paper and pen solutions
- Reasonably priced
- Slightly bulky design
- Sliding tiles into identify can be a clumsy experience
What is a non-custodial wallet?
A non-custodial wallet is a crypto wallet that you utilize to store the private keys to the digital assets that you own.
A common misconception most non-custodial wallets is that your digital assets are stored in the wallet. This isn't the example, though. The wallet stores your private keys to your digital assets, which are stored on blockchains.
You'll know you are using a not-custodial wallet if you've written down a 12- to 24-word seed phrase – sometimes called a recovery phrase – for the wallet when you lot set it upwards.
This seed phrase is what you lot would use to recover your wallet in the upshot that you always lost the physical device and needed to recover the individual keys stored in the wallet.
Some non-custodial wallets are software wallets, which remain connected to the internet at all times. Examples of non-custodial software wallets include Diminutive Wallet, Exodus Wallet and MetaMask.
Other non-custodial wallets are hardware wallets, which remain mostly disconnected from the internet. These wallets include Ledger, Trezor and COLDCARD devices. You only connect them when you demand to use the wallet.
The offline storage of private keys that hardware wallets provide is sometimes called cold storage.
🔑 What is a individual key?
A private key is sometimes referred to every bit a secret key.
Private keys are long, randomly generated strings of letters and numbers that cannot hands be guessed. They can be used to admission cryptographically encoded information when paired with a public key counterpart.
Private keys should be stored securely in secret locations.
Custodial vs. not-custodial wallets
The following are some differences between custodial and non-custodial wallets.
Custodial wallets | Non-custodial wallets |
---|---|
|
|
How do I know if I'm using a non-custodial wallet?
Yous'll know that y'all are using a non-custodial wallet if you lot've written down a 12- to 24-discussion seed phrase – or recovery phrase – when setting up the wallet.
If you weren't prompted to write down such a phrase, so you are using a custodial wallet and the private keys to your digital assets aren't in your command.
Non-custodial wallet pros and cons
Pros
- Having bodily buying of your digital assets
- Not relying on the solvency of a third-party custodian (due east.g. a centralized crypto substitution)
- Being able to use your digital assets in decentralized applications (dapps)
Cons
- Yous bear full personal responsibility for managing the private keys to your digital assets
- There may be an initial cost to you lot if you decide to purchase a hardware wallet
How to cull the best not-custodial wallet
There are a number of factors to consider when choosing the best non-custodial wallet for your needs.
-
Software vs hardware.
Custodial software wallets are always connected to the internet and are therefore less secure. Not-custodial hardware wallets remain mostly asunder from the internet and are therefore more secure. -
Price.
Non-custodial software wallets are often gratuitous to download, while you accept to buy a not-custodial hardware wallet. -
Features.
Consider whether y'all want to practise more than just hold the private keys to your digital assets in your own custody. Some non-custodial wallets permit y'all to stake your digital assets or put them to piece of work through dapps. -
User interface (UI).
Yous might want to test a few non-custodial wallets out or picket some YouTube videos on them before deciding on which has the UI that's right for you.
Risks of using a non-custodial wallet
Consider the following risks in using a non-custodial wallet:
-
Personal responsibility.
You conduct the responsibility of writing downwards and securely storing your 12- to 24-discussion seed phrase. -
Sending assets to the wrong accost.
Yous run the take chances of potentially transferring your avails to the wrong address when trying to ship them. -
Inputting wrong passcode.
It's possible to become locked out of a hardware wallet if you enter the incorrect passcode for it plenty times. In this case, you'd take to purchase a new hardware wallet and regain access to the private keys for your digital assets by using your 12- to 24-word seed phrase when setting up the new wallet.
Bottom line
If you choose to take personal responsibleness for the private keys to the digital assets you've purchased, you'll need to learn how to use a non-custodial wallet.
Taking cocky-custody of the private keys to your digital avails can be an empowering experience, but it's important to do your research to choose the non-custodial wallet that's best for you.
You'll need to consider a number of factors similar whether y'all'd like to use a software or hardware wallet besides every bit which features y'all'd similar your non-custodial wallet to accept.
By building a deeper understanding of secure digital asset storage and comparing a number of the all-time crypto wallets on the market, y'all'll be in a better position to keep your crypto investments condom.
FAQs
Can a non-custodial wallet be hacked?
Yes, non-custodial wallets can be hacked.
Software wallets are susceptible to common attacks such as phishing scams similar any other internet-connected service.
No user's hardware wallet has ever been successfully hacked, but enquiry has proven that there have been hackable flaws in the designs of some earlier iterations of hardware wallets.
What is the safest non-custodial wallet?
The safest non-custodial wallets tend to exist crypto hardware wallets, as they remain mostly disconnected from the internet.
Is Coinbase a non-custodial wallet?
Coinbase offers both custodial and not-custodial wallets to its customers.
The substitution'due south custodial wallet is the wallet that the exchange provides to you automatically when you purchase digital avails via the Coinbase exchange.
Coinbase'due south non-custodial wallet is a browser extension product called Coinbase Wallet.
Unlike when you use its commutation service, Coinbase Wallet will prompt yous to write down a 12- to 24-word seed phrase.
Disclaimer:
Cryptocurrencies are speculative, circuitous and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and by functioning is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this data. You should as well verify the nature of whatsoever product or service (including its legal condition and relevant regulatory requirements) and consult the relevant Regulators' websites before making any determination. Finder, or the author, may accept holdings in the cryptocurrencies discussed.
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Source: https://www.finder.com/best-non-custodial-wallets