What is a non-custodial wallet?

May 30, 2023

Metal Pay is a custodial wallet. A custodial wallet is similar to a bank where another party takes custody of your assets and allows you to access them with id verification (username/password). With Metal Pay, any crypto you purchase is securely custodied by Metallicus and registered to each user on a ledger. If you forget your password or lose all access to your account, Metallicus can assist you to regain access to your funds. 

Other wallets like WebAuth are non-custodial wallets. With a non-custodial wallet, the individual is responsible for the custody of their own assets which means they must store their private key and/or seed phrase in a safe and private location. If you lose your keys you lose access to your cryptocurrency. However, you also have full control of your assets and can hold or transfer them at any time you wish without the need for an intermediary.

Your secure digital wallet, for everything. Pay friends, get paid, buy crypto or just save up for a rainy day.

Metal Pay is a service of Metallicus, Inc., a licensed provider of money transfer services (NMLS ID: 2057807). All money transmission is provided by Metallicus, Inc. pursuant to Metallicus, Inc.’s licenses. © 2023 Metallicus, Inc.

License issued to Metallicus by the Louisiana Office of Financial Institutions does not cover the exchange or transmission of virtual currency." And also change "All money transmission is provided by Metallicus, Inc. pursuant to Metallicus, Inc.'s licenses." into "All money transmission is provided by Metallicus, Inc. pursuant to Metallicus, Inc.'s licenses and/or the applicable law depending on the jurisdiction

Your secure digital wallet, for everything. Pay friends, get paid, buy crypto or just save up for a rainy day.

Metal Pay is a service of Metallicus, Inc., a licensed provider of money transfer services (NMLS ID: 2057807). All money transmission is provided by Metallicus, Inc. pursuant to Metallicus, Inc.’s licenses. © 2023 Metallicus, Inc.

License issued to Metallicus by the Louisiana Office of Financial Institutions does not cover the exchange or transmission of virtual currency." And also change "All money transmission is provided by Metallicus, Inc. pursuant to Metallicus, Inc.'s licenses." into "All money transmission is provided by Metallicus, Inc. pursuant to Metallicus, Inc.'s licenses and/or the applicable law depending on the jurisdiction