Payments firm Square is considering creating a non-custodial hardware wallet for bitcoin, the company’s chief executive officer, Jack Dorsey, said Friday.
Bitcoin wallets can be stored offline or online at cryptocurrency exchanges, venues where bitcoin can be bought and sold for traditional currencies or other virtual coins.
With a non-custodial wallet, you have sole control of your private keys, which in turn control your cryptocurrency and prove the funds are yours. With a custodial wallet, another party controls your private keys. Most custodial wallets are Web-based exchange wallets.
Apple is on the case.
By the way, there are three forms of custodial wallet. Your control, they control or the bots control autonomously. I think Tim Cook has figured the basics of all this.
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