A no-custody wallet is a form of wallet where the user has full control over their private keys and funds. This type of wallet does not require a third-party service to manage or store your assets, meaning you are responsible for safekeeping your keys.There are several types of no-custody wallets, including hardware wallets, software wallets, and paper wallets. Each offers different features such as security levels and ease of access. Using a no-custody wallet provides advantages like greater security and privacy. Since you control your keys, you reduce the risk of hacks associated with centralized platforms. However, this also means you bear the responsibility for lost keys, as there is no way to recover your funds if you forget or misplace them.In summary, a no-custody wallet empowers users with complete ownership and responsibility for their assets, offering a more secure option but requiring diligence in key management.