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Crypto wallets are so foundational to decentralized finance that some people on Twitter or Discord refer to themselves solely by their cryptocurrency wallet addresses – anyone who introduces themselves with a username that starts with “0x” is referring to theirEthereumaddress.Unless you’re running a huge company holding so much cryptocurrency that you need the watchful eye of a specialized custodian – a third party that looks after your crypto for you – you’re looking for a non-custodial wallet.

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You may have read the adage, “not your keys, not your crypto.” This phrase is commonly used and stresses the importance of looking after your own crypto.With non-custodial crypto wallets, your assets are backed by something called a private key.

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You must shroud this in secrecy and never tell anyone about it.

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It’s important to hide these in a trusted place, ideally by holding parts of the phrase in different places.

No company or individual should ever ask for your seed phrase – those that do are almost alwaysscamslooking to steal your funds.Different blockchains require different wallets.

MetaMask, one of the most popular wallets, supports just a handful of networks, including Ethereum, Binance Smart Chain,Polygon(MATIC) andAvalanche(the common denominator is that these chains all support theEthereum Virtual Machine (EVM)).

MetaMask does not supportSolanaorBitcoin, however, there are a number of other options including Trust Wallet that do support Bitcoin.NFTsupport requires special attention.

Most wallets natively support fungible tokens, likeethereum,bitcoinand so on.

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Marketplaces likeOpenSea, although not wallets, will automatically display your Ethereum NFTs if you connect your wallets.

Rainbow Wallet displays NFTs within its app.When choosing a wallet, a good rule of thumb is to check which wallets are recommended by a coin’s community.

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