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What are custodial and non-custodial wallets? Picture a fancy bank where you deposit your money, and they take care of everything for you. Custodial wallets work in a similar way. They're provided by third-party folks like exchanges or online platforms, who handle your crypto keys and manage your assets. Basically, you trust them to guard your funds. Now, non-custodial wallets are where the real action happens. They give you the power to be the boss of your digital assets. These wallets enable you to have exclusive ownership of your private keys, which are the cryptographic codes that grant access to your funds. Non-custodial wallets can be software or hardware-based, and they let you store and manage your digital goodies independently without relying on anyone else.