What Is a Custodial NFT Wallet?
A Custodial NFT Wallet is a type of wallet where a third party holds your private keys
It acts like a trusted guardian for your NFT holdings
The most important benefit of Custodial NFT Wallets is not having to stress about losing keys because they are under the security of a central entity
Custodial NFT wallets are very user-friendly, making them ideal for beginners in the NFT space
However, it should be kept in mind that Custodial wallets sometimes sacrifice some decentralization
While they enhance accessibility, they might not align with the core philosophy of decentralization in blockchain space.