Non-custodial wallet - why you should choose it now

Everyone knows that the new eighth package of cryptocurrency sanctions from the European Union against Russia has already been released on October 6 and gradually began to be implemented. Now the provision of crypto wallets, accounts and cryptocurrency storage services to Russian citizens, residents and legal entities falls under a complete ban.

Restrictions in the field of cryptocurrencies were introduced back in April, but they were not so global and mainly concerned the limitation of the amount of assets of Russians on European crypto accounts and wallets - now it should be no more than 10,000 euros or about 605 thousand rubles at the current exchange rate. Now there has been a complete ban on transactions with crypto assets from all sites that operate in the EU. What to do in such a situation? The answer is obvious - to limit access to third-party funds as much as possible and leave it only to the owner, and then non-custodial crypto wallets come to the aid of cryptotrailers and investors.

They are a digital data warehouse that only its owner, who alone owns the private keys, has access to. Such a wallet helps protect funds from theft, hacking and, what is especially important now, from blocking. Compare with custodial wallets that are not controlled by the owners unilaterally - the custodian (that is, the one who provides the storage service) has access to these wallets and can block them alone. That is, in the conditions of constantly imposed new sanctions, it is custodial wallets that become the most vulnerable, and their owners come under attack.

So, what to do? Store crypto assets on non-custodial wallets that you can fully control. And even if access to the web interface or mobile application of such a wallet is lost, you will still be able to access your cryptocurrency using a secret phrase.

Yes, in the case of a non-custodial wallet, there are also some risks - for example, if you lose your keys, you may lose the assets stored on them, but with a responsible attitude to your own finances, the probability of this is many times less than the risk of sanctions blocking, which you cannot control at all. Moreover, the use of a non-custodial wallet allows you to buy and sell currency through exchangers, in this case you need to be very careful about choosing a platform so as not to run into scammers. But again - this choice is in your power and under your control.

In general, the situation is, of course, tense and unpleasant, but not at all critical and not hopeless, as it seems to some. A large number of exchanges, P2P services and exchangers are represented on the crypto market, which are still interested in cooperation with Russian clients. Yes, perhaps in the end you will still have to change the usual platforms for work to other, loyal ones, but this does not mean that Russians are completely cut off from access to cryptocurrency.

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