BENEFITS OF AFCASH WALLET AS A NON- CUSTODIAL WALLET

Uninterrupted access to send and receive funds and digital assets at any time of your choosing is as important as anything else. custodial wallets and service providers end up mitigating the ability for traders and users to control their cryptocurrency locked in a wallet and proof that these funds are theirs. The benefits of using Non-custodial wallets cannot be overrated as it puts a solid foot down against interruptions and unwanted encroachment by third parties. You get full control of your private keys and use them to access your funds at any moment of your choice, round the clock. In this post, we will talk about the difference between custodial wallets, and Afcash Wallets and their Benefits.

 

DIFFERENCES BETWEEN CUSTODIAL WALLETS AND AFCASH WALLET

Imagine a system of finance that controls millions of transactions per second, or a nature of exchange that controls the Buy, and Selling of cryptocurrencies and digital arts. They both have the same thing in common which has in more ways proven a huge flaw in their design. The common thing is the fact that both platforms will face a high risk of cyber attacks, data leaks, delayed transactions resulting from several transactions happening at a go under one control, and the scary possibility of the entire system crashing. This is the nature of custodial wallets, they tell you when and how to transact. And they are forced to watch out for malicious attacks and secure everyone’s assets and data while bearing the load of treating the demands and queries of thousands, if not millions.

 

HOW DOES A NON-CUSTODIAL WALLET LIKE AFCASH WALLET DO IT?

AFCASH Wallet, formerly known as AFCASH App because of its ability to let users create multi-Blockchain and Multi-Currency wallets is a non-custodial wallet that gives all its users private keys or seed phrases whose role is to give them independent control over what happens with their apps. In this sense, a million people can download the AFCASH App, and have a million ways of using the AFCASH App separately. A group of persons can use their AFCASH wallet to send and receive funds and assets, while others may use it to simply hold cryptocurrency, and assets too. Some may also use the AFCASH Wallet to mint NFTs and store them, all of these are achieved in a decentralized manner.

 

In summary, the difference remains that custodial wallets are centralized in operation where a sole authority approves transaction requests and the like of it. while non-custodial wallets like AFCASH wallet simply grant users full authority to carry out whatever activities online using any of the types of Blockchain wallets they create using the AFCASH APP.

 

The benefits of using a Non-custodial wallet like AFCASH Wallet.

We are going to highlight the core benefits in this section for proper understanding.

1.         Private Keys

As a non-custodial wallet, the AFCASH app enables users to generate and keep private keys which gives them full authorization to their wallets and whatever actions can be taken in them.

This puts a user in control of the security of the wallet and what it contains, and proof of ownership of the data, funds, or assets that can be accessed using the said wallet.

Private keys are cryptographic secret numbers or seed phrases that give singular access and control of the AFCASH App on a user’s phone. When lost, the app and what its wallet contains are as good as useless and cannot be retrieved.

2.         Security Options

Now all digital assets and funds are expected to be secured, however, rather than sit and wait for the wallet provider to secure your crypto, tokens, NFTs, currencies, and the like, you are given full rights to determine how to best secure them yourself.

3.         Speed of operation

Speed is everything in the crypto universe. Traditional bank servers are prone to break down a few times a week with too many transactions.

These put so many customers at risk of losing their funds or facing other resulting problems. A non-custodial wallet provider like AFCASH wallet guarantees ultra-fast unlimited transactions.

Even when millions of persons are transacting at the same time using any of the Blockchain wallets created on the AFCASH App, the speed remains the same.

4.         Cost of operation

custodial wallets charge a higher cost per transaction because of the extra muscle they pull to secure your digital assets and cryptocurrency. This is different for non-custodial wallets provided by the AFCASH app.

The cost of operation is way lesser because the wallet providers are not taking any extra precautions to secure your transaction. After all, the blockchains your wallet is attached to are natural at securing transactions, and you are equally tasked to keep your private keys safe.

 

Do you wish to create your first wallet?

You can create your very first decentralized Blockchain wallet for Excoincial or Ethereum within seconds on AFCASH App. The process is straightforward with limited brain work.

AFCASH app solves all custodial problems and provides users with incredibly fast transactions at low costs all in a decentralized manner.