Peer2Peer

Custodial Wallets vs Non-custodial wallets

by
Finance

Posted on April 18, 2020 6:13 AM



If you’re new to cryptocurrency, a question you’ll often ask is, who is keeping my Bitcoin (or other cryptocurrency) safe?


Today we are going to talk about the options available to you;
There are two ways of storing cryptocurrency, one is in a custodial wallet, this one is like a bank, you buy and store the currency here and you can use it whenever you want to. You are protected from fraud, no one can steal your funds, they won’t get lost and you are protected from any unauthorized activity. 

The other option is, to be your own bank, which means you buy cryptocurrency and transfer it to your own wallet, in which case you are responsible for any loss of funds, if the funds are stolen or lost you will never get them back.

The biggest difference between these two approaches is, convenience and security, a custodial wallet offers you the option to 

1. Buy cryptocurrency
2. Sell cryptocurrency
3. Spend cryptocurrency 
4. Or just to store cryptocurrency safely without worrying about it getting stolen or lost.

Furthermore, if you want privacy, custodial wallets, like MoonTrade, provide it.

MoonTrade is a whole platform with a custodial wallet built for you to 
1. Buy Cryptocurrency - Buy from people selling cryptocurrency, no middlemen.
2. Sell Cryptocurrency - Sell to people buying cryptocurrency, no middlemen.
3. Spend Cryptocurrency - Buy and spend your cryptocurrency using the “Marketplace” section. 
4. Store Cryptocurrency - Store your cryptocurrency securely and privately, be protected from fraud, if a buyer reverses his payment after buying your crypto, your crypto is returned to you. Your cryptocurrency is never lost or stolen. 

For the cryptocurrency ecosystem to grow across borders so someone in one corner of the world pays the same amount for an iPhone that someone from America does (as an example), we need to put emphasis of buying and using cryptocurrency, rather than buying and sitting on it.

Those who buy and sit on it are similar to speculators who don’t want to USE cryptocurrency but just SPECULATE on it. They are the primary hurdles to growth and acceptance of cryptocurrency to the regular folks.

MoonTrade provides you the option to Buy and USE your crypto immediately, or hold it to sell for a profit later, all of this without worrying about the hassle of it getting stolen or misplaced. 

All of these features are a result of MoonTrade being a custodial wallet. We take the stress out of buying, selling and using cryptocurrency for the regular folks who just want to use it to travel, purchase things, book flights, go on vacation, use it on vacation, save it for a rainy day or just want peace of mind and security. 

If peace of mind, security, convenience and an easy to use platform to use or spend your crypto appeals to you, sign up today and buy some crypto from one of our many experienced and highly rated sellers using a variety of payment options like Zelle, PayPal, Venmo, Cash App, MOVO, SEPA Transfer, Wire Transfer, even other crypto like XRP for BTC or USDT for BTC....the options are endless.

What’s more, you can post an ad to sell your own crypto as well, we do not impose restrictions on you trying to make money. 🙂

Join today and set yourself free from stress and worry and use cryptocurrency the way it’s meant to be used, to get you a better life. 💫



Register now using the link below:
https://www.moontrade.org/login.php
To know more about Bitcoin, check out the article below:https://en.m.wikipedia.org/wiki/Bitcoin

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randymarsh
Thanks for this. Simple and sweet explanation 👍🏻