Non-custodial

Non-custodial means the user holds their own private keys. No exchange, no wallet provider, no merchant, and no intermediary has the ability to move funds without explicit user signature.

In a custodial arrangement — Coinbase, Binance, a centralized exchange account — the platform holds the keys. The user has an IOU that depends on the platform staying solvent and letting them withdraw.

In a non-custodial arrangement — MetaMask, Phantom, Ledger, Trezor — the user has a seed phrase, and only that seed phrase can move funds. Losing it means the coins are gone; keeping it safe means no one else can freeze or seize them.

For buyers at a crypto checkout, non-custodial purchasing means paying from a wallet you control, to an invoice address, with no third party sitting between your keys and your coins.