6 Benefits of Self-Custodial Crypto Wallets

6 benefits of self-custodial crypto wallets - blog

Semi-custodial wallets which make up the subcategory of self-custodial ones, are ideal for web3 newcomers. They manage to combine the security of non-custodial wallets with the user-friendliness of custodial ones. If you would like to start your journeys in web3 and make sure that your funds are securely stored, you should look in the direction of semi-custodial wallets. 

Please, check out our previous post to find out what’s the difference between custodial, non-custodial, and semi-custodial crypto wallets.

What are the benefits of self-custodial wallets?

1. Security

Self-custodial crypto wallet providers store on their side only one of the two secrets that are used to activate the private key to operate the wallet. It means that a self-custodial wallet has an extra protection layer because there is a third party to guard the access to the digital assets. Nevertheless, the service alone cannot access the funds or set any limitations on transactions. Any activity has to be confirmed with the help of the shard (secret) stored on the user's device.

2. Convenience

Self-custodial crypto wallets offer a short learning curve to let users easily operate them. They are suitable for different kinds of users. MPC takes off various complexities concerning the wallet operation and makes wallets very convenient

3. User-friendly interface

Users can easily test how self-custodial wallets operate. Try Spatium crypto wallet for free and witness how intuit and easy to navigate the app’s interface is.

4. Biometric backup

Some self-custodial crypto wallets, like Zengo, use biometric backup to restore access to the wallet. Also, the biometric backup could be applied to install the wallet account on the user's other devices.

5. Cloud backup

Instead of biometric backup, or sometimes, in addition to it, cloud backup is performed. Cloud backup helps to restore access to the wallet account if the device is lost or stolen. Spatium Feeless Bitcoin wallet offers cloud back-up that can be performed through Google, iCloud, or QR code activation. Read more about it in Spatium cloud backup recommendations.

6. Flexibility

Self-custodial crypto wallets allow users to make all important financial decisions independently while covering their backs in terms of safety and protection. As an analogy, we can use the work of a personal assistant who is there to help and even do some work while the full ownership of the wallet is still solely in the hands of a user. 

Spatium Feeless Bitcoin crypto wallet is a self-custodial wallet powered by MPC technology. It’s secure and easy to operate. Spatium wallet is a perfect match for new users who would like to join web3 and reap its benefits as soon as possible. Also, crypto-savvies will definitely find it convenient and cost-efficient due to our Feeless feature allowing users to pay network fees in the crypto they send, not in the native crypto of the blockchain (currently available for USDC on Ethereum. More chains and tokens will be added soon). 

Spatium Bitcoin MPC wallet is free to download. It’s available on Android and iOS devices.

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