What is a Custodial Wallet?
A Custodial Wallet is defined as a wallet in which the private keys are held by a third party. This means, on your behalf, Sweet retains control over the NFTs in your wallet and you give permission to send, receive, and trade your digital collectibles.
Examples of custodial wallets include Coinbase and Binance.
What is a Non-Custodial Wallet?
It is a type of Blockchain wallet in which you have full control over your NFTs and the associated private key.
Examples of non-custodial wallets include Exodus, Ledger Nano X, and TREZOR One.