layer-groupWhat types of wallets are there?

Custodial vs non-custodial wallets: who controls your private keys, and what that means for security and convenience.

Crypto wallets come in two primary types: custodial (CeFi) and non-custodial (DeFi). The key difference is who controls the private keysβ€”the secret used to access funds and sign transactions.

Let's break down the differences between these two types and see where MyTonWallet fits in:

🌐 Custodial Wallets

In custodial wallets, private keys are managed by a third party, such as a cryptocurrency exchange. This means that users delegate the storage and management of their assets to a trusted entity.

Key Features of Custodial Wallets

  • Simplified Access Quick login using a username and password.

  • KYC Verification Identity verification required for full feature access.

  • AML Compliance All transactions are screened for anti-money laundering compliance.

  • Fiat Support Seamless interaction with fiat currencies, without intermediaries.

Popular examples: Telegram Wallet, Crypto Bot, and others

πŸ” Non-Custodial Wallets

Non-custodial wallets provide users with full control over their assets. The private keys are stored exclusively by the wallet owner, and access is secured through a seed phraseβ€”a unique set of 12 or 24 words.

Features of Non-Custodial Wallets

  • Full Control You are entirely responsible for your assets, including the security of your private keys and recovery phrase.

  • Anonymity No identity verification required.

  • Decentralization Manage your assets without intermediaries.

Limitations: Limited fiat functionality (e.g., direct bank withdrawals may not be supported)


MyTonWallet is a non-custodial (DeFi) wallet. You manage your assets without intermediaries, and access is protected by a seed phrase. No KYC is required to use the wallet, so you keep more privacy and control.

MyTonWallet is a perfect choice for those who value security and complete control over their funds.

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