Solflare Wallet
  • ☀️Introduction
    • The Power of Self-Custody
    • Benefits of Non-Custodial Wallets
    • Digital Wallet Best Practices
    • Bigger Picture
  • Onboarding
    • 📞Mobile
      • Generate a New Wallet
      • Connect a Ledger Wallet
      • Import any Solana Wallet
    • 🖥️Web App & Extension
      • Generate a New Wallet
      • Import Your Ledger Device
      • Import Your Keystone Device
      • Import any Solana Wallet
    • 🚶Next Steps
  • Integrations
    • ⛓️Integrate Solflare
      • MetaMask
      • Using the Solana Wallet Adapter
      • Solflare Wallet SDK
    • 🎭Profile Picture Protocol
      • Get a Wallet's Profile Picture
      • Set NFT as Profile Picture
      • Remove a Profile Picture
    • ⚡Solflare Notifications
      • Sending Notifications
      • User's Perspective
        • Notification Center
        • Receiving Notifications
        • Subscription Management
      • API Endpoints
        • Broadcast Endpoint
        • Unicast Endpoint
        • List Casts Endpoint
        • View Cast Endpoint
        • Check Public Key Subscription Status for Domain
    • 🖼️NFT Standard
      • URI JSON Schema
      • CDN hosted files
      • Collections
      • Additional Attributes Specification
      • Order of JSON Fields
    • 🔗Deeplinks
      • Provider Methods
        • Connect
        • Disconnect
        • SignAndSendTransaction
        • SignAllTransactions
        • SignTransaction
        • SignMessage
      • Other Methods
        • Browse
      • Handling Sessions
      • Specifying Redirects
      • Encryption
      • Limitations
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  1. Introduction

Benefits of Non-Custodial Wallets

PreviousThe Power of Self-CustodyNextDigital Wallet Best Practices

Last updated 2 years ago

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When using non-custodial wallets, your capital is accessible as long as the blockchain its on is working. If you want to trade digital assets like tokens, NFTs, or on-chain , you do so with a digital wallet.

Digital wallets are what connect you to blockchains and web3.

If the country you live in has a failing currency and experiences consistent bank runs, you can securely store stablecoins like USDC that retain value while not being infringed by intermediaries like untrustworthy regional banks or brokers.

But as Uncle Ben ...

With Great Power Comes Great Responsibility

  • If you lose your mnemonic/recovery phrase for a wallet, you lose access to the funds in that wallet and no one can recover them for you.

  • If you connect your wallet to a website/blockchain application or click on a link, your wallet could be drained entirely by a malicious person or robot.

That's it, but that's a lot. It's imperative that you safeguard your digital assets. You can do so by following best practices and continuing to learn about digital security.

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