DeutschIn the crypto scene, a custodial wallet refers to a program for managing cryptocurrencies. Unlike its counterpart – the non-custodial wallets – the owner of the funds does not have complete control over their investments. Custodial wallets usually appear on platforms of crypto service providers such as crypto exchanges.
In some cases, there are wallets that pose as standard non-custodial wallets but deprive users of full control of their funds. The best-known product of this type is the Salvadoran software Chivo Wallet. CoinPro strongly advises against using such programs.
Custodial wallets are also frequently found in Layer-2 solutions such as the Lightning Network. The Blue Wallet is well-known here.
