Why Choose a Non-Custodial Bitcoin Platform?
For anyone looking to make the most of Bitcoin, choosing a non-custodial platform is the way to go. Here’s why self-custody puts you in control of your financial future in ways that custodial platforms simply can’t.
1. Control
With a non-custodial wallet, you hold the keys to your Bitcoin—meaning you’re the sole owner. Custodial platforms, on the other hand, hold your keys for you. This adds a layer of risk, as they control your access.
"Don’t trust, verify" isn’t just a catchphrase; it’s essential when dealing with digital assets. Self-custody gives you ownership and peace of mind.
2. Security
History has shown that custodial platforms are prime targets for hackers. Centralized exchanges like Mt. Gox and FTX serve as cautionary tales, where users’ Bitcoin was lost or compromised.
When you hold your Bitcoin in a non-custodial wallet, there’s no central honeypot for hackers to target. It’s just you and your BTC, protected by your own security practices.
3. Freedom
Self-custody means freedom. When you hold your Bitcoin, no one can suddenly freeze or confiscate it. Custodial platforms can be pressured by governments to restrict access, as happened with Executive Order 6102.
Holding Bitcoin yourself means there’s no intermediary between you and your future. This is financial freedom in its truest form.
4. Innovation
The Bitcoin ecosystem is evolving quickly, and non-custodial wallets are leading the charge. From the Lightning Network for fast, low-cost transactions to improved wallet features, you get access to the latest innovations.
Exchanges aren’t incentivized to keep up with these advancements. Non-custodial wallets make it easier than ever to securely store and use your Bitcoin.
5. No altcoins
Altcoins were invented after bitcoin to try and capture bitcoin’s price appreciation potential while concentrating the tokens and profits in the hands of a few privileged insiders. Despite using similar technology to bitcoin, altcoins are antithetical to bitcoin as they are not decentralized.
The best long term decision is to ignore altcoins completely and focus on accumulating bitcoin into self-custody.
Ready to Take Control?
At Bitcoin Well, we make self-custody simple, secure, and empowering. If you’re ready to take control of your Bitcoin, sign up below to start your journey to true ownership.
Konrad has been a Bitcoin Analyst since 2018 leveraging an economics background to deliver unique insights on Bitcoin, product, bitcoin mining, and macro-economics.