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Custodial Wallet
HomeGlossary TermsCustodial Wallet

Custodial Wallet

June 24, 2023BY Ubik Capital
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A custodial wallet refers to a specific type of cryptocurrency wallet in which a third party is responsible for safeguarding the user’s private keys and overseeing their cryptocurrency holdings. In this arrangement, users must place their trust in the custodial service provider to ensure the security of their funds and handle any withdrawal requests. Custodial wallets are frequently encountered in web-based cryptocurrency exchanges.

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