In order to do that you’ll need a non-custodial wallet.Ī non-custodial wallet like MetaMask gives you full control over your currency and assets and you won’t have to share ownership of your private keys. This option does not yet allow you to purchase NFT. Many beginners make their first purchases on centralized exchanges, it’s easy to sign up for an account and good for holding small amounts of crypto.
The host or third-party basically has “custody” over your currency. A custodial wallet is a hosted, centralized exchange like Coinbase that acts as a third-party with ownership of the private keys used to make transactions. There are a couple of options when choosing what kind of crypto wallet you want to get.
Your crypto wallet stores your funds the same way a bank does but the Blockchain is the mechanism that facilitates and records all of your transactions. Cryptocurrency wallets are basically software that communicate with a system called the Blockchain to allow you to safely access, send, and receive crypto funds and assets.
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