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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  • Custodial vs Non-Custodial
  • Primers on Self Custody

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  1. Introduction

The Power of Self-Custody

PreviousIntroductionNextBenefits of Non-Custodial Wallets

Last updated 2 years ago

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With Solflare, you can embark on the worthwhile journey of self-custody. Self-custody is an immensely powerful, cryptographically secure way to manage your assets without involving an intermediary. It's made possible with wallets.

The benefits of self-custody range from convenient to essential depending on your financial situation and physical location. Crypto's role widely varies depending on whether you're in a developed, emerging, or frontier nation.

In any case, Solflare Wallet will be there to support you.

Custodial vs Non-Custodial

When you open and fund a crypto account on a centralized exchange you’re creating a custodial wallet and trusting that the exchange will grant you access to your funds as they are in the custody of your keys. As we’ve seen time and again – with even the biggest, most regulated centralized exchanges (, , , , ) – when the volatility picks up, users are often unable to place any trades or withdraw their capital.

Non-custodial wallets are blockchain accounts that remove the need for an intermediary like an exchange. They can serve many purposes and they're primarily used as a decentralized bank and/or investment account. Assets within a non-custodial wallet remain on a blockchain at all times and if proper safety measures are practiced, you and only you will have access to the assets within it.

This is made possible with the use of public key-private key cryptography and mnemonic phrases.

Its important to note that you can access a near infinite amount of blockchain accounts/wallets from a single mnemonic phrase.

Refer to the following to learn more.

Primers on Self Custody

☀️
non-custodial
Coinbase
Binance
Gemini
Voyager
Robinhood
Non-Custodial Wallets
What are mnemonic/recovery phrases?
Derivation paths & my Solflare wallet
LogoSelf Custody: Part 1 - Solflare AcademySolflare Academy
LogoSelf Custody: Part 2 - Solflare AcademySolflare Academy