Non Custodial
NYKNYC
The Kabila Wallet is a Non-Custodial wallet.
NYKNYC is a common term in Web3, standing for 'Not Your Keys, Not Your Coins.' It serves as a crucial reminder that ownership of a crypto wallet and its assets is only secure when you, and only you, control the Private Key or Seed Phrase of the account."
And... What exactly is a Non-Custodial Wallet? 🤔
A non-custodial wallet is like having a digital piggy bank for your cryptocurrency and NFTs.
But unlike with traditional banks, you are in complete control.
You have a special key (Private Key or Seed Phrase) that only you know, and it's what lets you access your account and manage your crypto and NFTs.
This way, you don't need to rely on any company or bank, and you have the responsibility to keep your key safe, just like you would with a real key to a safe.
Web3 is all about you being in control of your own assets. But remember...
With great power comes great responsibility!
So keep this in mind:
It's crucial to keep your Private Key secure and private. Losing your Private Key could mean losing access to your digital assets forever!
Now that you know what non-custodial wallets are, get started by creating your first Account.
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