There's nothing as beautiful as a man having to be in charge of his own life, and having absolute control over what would happen to his future. Thais is just how it is with using non custodial wallet, I see no much of a responsibility in using a non custodial wallet other than the safe keeping of ones secret key phrase.
We live in a world where people have become so lazy that they leave almost everything including their privacy and financial security in the hands of a third-party to to take charge for them therefore risking their power and right to make choices and determine how things should be for them.
Topic: Non custodial wallet is not for the weak - page 2. (Read 369 times)
Taking full responsibility of your asset, knowing how to secure and protect it is the price you pay for having a reputable investment in bitcoin. Bitcoin investment actually requires your total interest and concentration to be able to achieve big from the investment. If you’re just focused on how to make more money through the investment and not applying the due process to make that dream come true, then you’re not ready and can lose everything with just one mistake.
In as much as you don’t need to do any extra work after investment in bitcoin unlike other investment that requires physical strength or deep thinking to bring about innovative ideas to help grow the investment, bitcoin is distinct to that. So you have to sacrifice something and that is the responsibility aspect of securing your funds, and if you can keep to that, you’ll enjoy big time when your investment begins to yield profits.
In as much as you don’t need to do any extra work after investment in bitcoin unlike other investment that requires physical strength or deep thinking to bring about innovative ideas to help grow the investment, bitcoin is distinct to that. So you have to sacrifice something and that is the responsibility aspect of securing your funds, and if you can keep to that, you’ll enjoy big time when your investment begins to yield profits.
It is not that hard, so stop making newbies feel that way. Being your own bank comes with responsibilities and you ought to be ready to take all that up before buying bitcoin, using a non-custodial wallet is as easy as backing up your seed phrase in a secure place and running your wallet in an offline device.
Quite a lot of newbies might think keeping their assets in a custodial service is "convenient", but you should always place security above convenience and the benefits of being your own bank outweighs whatever you think you gain when you use a custodial platform.
Quite a lot of newbies might think keeping their assets in a custodial service is "convenient", but you should always place security above convenience and the benefits of being your own bank outweighs whatever you think you gain when you use a custodial platform.
Using a non-custodial wallet you are your own customer support, it is expected that users are to resolve issues by themselves and this will be a problem for one that is not ready to learn and understand how this wallet works.
You can't be a customer support all the problems, bugs and any technical issues must be reported to their GitHub page because most of the users don't have developer skills to fix bugs or issues.
Also, even if you use a non-custodial wallet if you don't know how to protect your wallet you are still vulnerable to online attacks. That is why it's recommended to have cold storage for non-custodial wallets to avoid online attacks.
Not at all. I'm not trying to give reasons why people need to choose custodial wallet over non custodial. I'm just trying to say it is a wallet people don't need to toll with, because its possible to take wallet privacy granted. I'm only trying to let people to do the needful.
You are following a strange line and suggesting that people might be safer having someone else keep their money than they themselves.So the problem is that you are your own support (always available), and it is not a problem when the support is on another side and puts you on hold for weeks. In most cases, there is no big difference when using custodial and/or non-custodial wallets, equal knowledge of transactions is required. I don't know where the fear of managing your funds comes from.
Their is no doubt about non custodial wallet as the best wallet to invest bitcoin for long-term but their are lots of responsibilities that that is required to use a non custodial wallet. I think it is a wallet designed for specific kind of people that are willing to take responsibilities. The wallet won't be suitable for those that are not ready to be discipline and to learn to have understanding of wallet management.
Using non custodial wallet you are your own customer support, it is expected that users are to resolve issues by themselves and this will be problem for one that is not ready to learn and understand how this wallet works.
Users must take their own security measures that can be susceptible to mistakes and attacks. I must say non custodial wallet is a good one but one must be ready to take responsibilities privacy, wallet security, protection against fraud.
I agree with you, that's why I would never take the responbality to advise a non custodial wallet to a beginner I know personally. Too many errors can be done and I wouldn't want to be the person responsible for the loss of large amounts of funds from someone I know personnally. It's better to invite them to DYOR and to learn how it works by themselves than to use a rather dangerous tool. Using non custodial wallet you are your own customer support, it is expected that users are to resolve issues by themselves and this will be problem for one that is not ready to learn and understand how this wallet works.
Users must take their own security measures that can be susceptible to mistakes and attacks. I must say non custodial wallet is a good one but one must be ready to take responsibilities privacy, wallet security, protection against fraud.
You are trying to mislead newbies. If you don't understand a thing properly, don't write about it. Just try learn, and practice yourself before writing an article like this. A custodial wallet gives you nothing except potential risk. You have to keep saving your wallet credentials for both kinds of wallets. So why do you need to choose a custodial wallet? For customer support? Why do you really need it when a decentralised system doesn't have centralised customer support? Using a non-custodial wallet means you are your own bank. You don't need any kind of support. Because everything you are controlling. Support systems suit only custodial services.
Not at all. I'm not trying to give reasons why people need to choose custodial wallet over non custodial. I'm just trying to say it is a wallet people don't need to toll with, because its possible to take wallet privacy granted. I'm only trying to let people to do the needful. 
Their is no doubt about non custodial wallet as the best wallet to invest bitcoin for long-term but their are lots of responsibilities that that is required to use a non custodial wallet. I think it is a wallet designed for specific kind of people that are willing to take responsibilities. The wallet won't be suitable for those that are not ready to be discipline and to learn to have understanding of wallet management.
Using non custodial wallet you are your own customer support, it is expected that users are to resolve issues by themselves and this will be problem for one that is not ready to learn and understand how this wallet works.
Users must take their own security measures that can be susceptible to mistakes and attacks. I must say non custodial wallet is a good one but one must be ready to take responsibilities privacy, wallet security, protection against fraud.
Using non custodial wallet you are your own customer support, it is expected that users are to resolve issues by themselves and this will be problem for one that is not ready to learn and understand how this wallet works.
Users must take their own security measures that can be susceptible to mistakes and attacks. I must say non custodial wallet is a good one but one must be ready to take responsibilities privacy, wallet security, protection against fraud.
This is one of the most interesting features on using a non custodian wallet. The fact that you are your own bank and and customer service when even you encounter any issue. One of the reason a Ike a noncustodial wallet is that, it's difficult for someone to run into any problem without resolving it your self easily. All you need is to get few basic knowledge and you are good to good, unlike traditional banks that you could be delayed for only trying to upgrade your account transactions limit. Aside mempool congestion that increases the transaction in all transactions, the non custodian wallet is far better than a traditional fiat bank, all it takes is your security consciousness to safe keep you seed phrase properly.
Users must take their own security measures that can be susceptible to mistakes and attacks. I must say non custodial wallet is a good one but one must be ready to take responsibilities privacy, wallet security, protection against fraud.
From the day you decide to store your coins in a wallet that you control all by yourself, without any third-party, you bear full responsibility of anything that happens to your funds.Why should anyone not protect their valuables ? Shouldn't it be incumbent on you to do so? I feel so secured and safe having the thoughts that my coins are in my own custody.
You are trying to mislead newbies. If you don't understand a thing properly, don't write about it. Just try learn, and practice yourself before writing an article like this.
I really don't think he meant it that way though.I think he was more of like - having a feeling that it becomes way too cumbersome to deal with, at some point. (col)
You are trying to mislead newbies. If you don't understand a thing properly, don't write about it. Just try learn, and practice yourself before writing an article like this. A custodial wallet gives you nothing except potential risk. You have to keep saving your wallet credentials for both kinds of wallets. So why do you need to choose a custodial wallet? For customer support? Why do you really need it when a decentralised system doesn't have centralised customer support? Using a non-custodial wallet means you are your own bank. You don't need any kind of support. Because everything you are controlling. Support systems suit only custodial services.
While there are truly people who struggle with technology, there are some who are just lazy as well lols.
The good thing about learning how to keep safe your bitcoins is you also get to check in with your personal cyber security in general. TBH, before crypto, mine was shit lol. For instance, i was saving sensitive information on a goddamn notepad lol and has installed relatively unknown programs on the same device I do important tasks lol.
The good thing about learning how to keep safe your bitcoins is you also get to check in with your personal cyber security in general. TBH, before crypto, mine was shit lol. For instance, i was saving sensitive information on a goddamn notepad lol and has installed relatively unknown programs on the same device I do important tasks lol.
I think it is a wallet designed for specific kind of people that are willing to take responsibilities.
Bitcoin is designed for people who are willing to take responsibility, non custodian wallets are just tools to achieve that. If you're not interested in being your own bank, then stick to a regular bank.- Jay -
You make a fair point - non-custodial wallets do require folks to step up and take on more responsibility. And I get it, probably not for everyone. But like un_rank said, Bitcoin's whole idea is about people willing to own their choices and so if keeping your own keys feels like too much hassle, maybe you gotta ask yourself what you really want outta crypto in the first place.
I think it is a wallet designed for specific kind of people that are willing to take responsibilities.
Bitcoin is designed for people who are willing to take responsibility, non custodian wallets are just tools to achieve that. If you're not interested in being your own bank, then stick to a regular bank.- Jay -
I see that noncustodial wallet have easy mentainance and doesn't demands frequent updates of wallet, with noncustodial wallet one can mentained high privacy in the sense that, you can hold alot of bitcoin in a single wallet address without the fear of a wallet address change as long as you have your wallets keys which gives you ownership of the wallet and can be used to recover the wallet on any device.
It's worth knowing that one does not invest in a non custodian wallet rather one stores or saves his or her assets in a non custodian wallet.
Custodial wallets can seem easy and convenient, but you gotta ask yourself - do I really wanna hand over control of my hard-earned crypto to someone else? That don't sit right with me. Non-custodial wallets put you in the driver's seat, but they take some work to set up and understand properly.
I get why that might turn some folks off. It's a hassle no doubt. But for those of us that care more about true ownership and security versus just convenience, non-custodial is the way to go. It just comes down to personal preference I guess and if controlling your own crypto matters to you, then yeah, take the time to learn how to use a non-custodial wallet. Itll pay off in the long run when no one can lock you outta your funds but you.
I get why that might turn some folks off. It's a hassle no doubt. But for those of us that care more about true ownership and security versus just convenience, non-custodial is the way to go. It just comes down to personal preference I guess and if controlling your own crypto matters to you, then yeah, take the time to learn how to use a non-custodial wallet. Itll pay off in the long run when no one can lock you outta your funds but you.
Perhaps all of the responsibilities that comes with a non custodian wallet is the price paid for ones security. If you want the best you have to pay more for the extra satisfaction that makes it the best, which is taking full responsibility of everything that happens within and outside your wallet.
It's worth knowing that one does not invest in a non custodian wallet rather one stores or saves his or her assets in a non custodian wallet.
It's worth knowing that one does not invest in a non custodian wallet rather one stores or saves his or her assets in a non custodian wallet.
Their is no doubt about non custodial wallet as the best wallet to invest bitcoin for long-term but their are lots of responsibilities that that is required to use a non custodial wallet. I think it is a wallet designed for specific kind of people that are willing to take responsibilities. The wallet won't be suitable for those that are not ready to be discipline and to learn to have understanding of wallet management.
Using non custodial wallet you are your own customer support, it is expected that users are to resolve issues by themselves and this will be problem for one that is not ready to learn and understand how this wallet works.
Users must take their own security measures that can be susceptible to mistakes and attacks. I must say non custodial wallet is a good one but one must be ready to take responsibilities privacy, wallet security, protection against fraud.
Using non custodial wallet you are your own customer support, it is expected that users are to resolve issues by themselves and this will be problem for one that is not ready to learn and understand how this wallet works.
Users must take their own security measures that can be susceptible to mistakes and attacks. I must say non custodial wallet is a good one but one must be ready to take responsibilities privacy, wallet security, protection against fraud.
Jump to: