As more and more people are turning towards crypto as an alternative investment, holding crypto projects safely is another major concern today.
There are many crypto exchanges and wallets that offer free wallet services, where users keep their crypto and believe that it will always be safe.
However, that is not always the case since many exchanges have been hacked and users were just trading and keeping their assets without knowing that they don’t actually own them.
In many cases, when wallets are hacked, users lose their assets since there is no law requiring wallet services providers or crypto exchanges to return their assets. There are, however, many exchanges that provide insurance coverage for users.
Crypto experts believe trading on platforms that allow users to hold their private keys is safe. In terms of wallets, there are two types: custodial wallets and non-custodial wallets.
One crypto wallet that stands out, especially when it comes to providing users with a safe environment where they own their private keys, is Klever Wallet.
Let’s understand the difference between custodial wallets and non-custodial wallets before going into detail about Klever Wallet.
What is a custodial wallet?
A custodial wallet is a wallet where users’ private keys are held by a third party. In this case, it is the wallet service provider or the exchange that holds your keys. It also means that the third party has full control over your funds, as you only have permission to send or receive payments.
What is a non-custodial crypto wallet?
This type of wallet allows users to hold their private keys and become their own bank. That means the users have complete control over their funds and keys. However, if you lose your private keys, you lose all your assets.
Many experts believe that it is safe for users to keep their assets on non-custodial wallets, as there is no way your assets can be lost. However, users must never share their private keys with anyone.
Klever Wallet, a game-changer
Klever Wallet not only allows users to send and receive cryptocurrency but also allows them to stake their assets, earning passive income.
Klever’s swap service is one of the best services that allows users to swap over 900 plus crypto projects with a click of a button. It also allows users to buy crypto by using debit/credit cards and through bank transfers.
Klever is regarded as providing the best wallet services in the industry today, by any wallet service provider.
To provide users with another layer of security, Klever wallet is also going to launch its hardware wallet, Klever Safe, which is expected to enter the market in the next few months.
It is a Klever idea to hold your private keys and look after the safety of your assets.
