A custody-free wallet is a type of digital wallet where users have complete control over their private keys. This means that individuals are responsible for safeguarding their assets without relying on a third party.Unlike custodial wallets, which store private keys and assets for users, custody-free wallets allow for greater security and flexibility. Users can access their funds directly and manage them as they see fit. This autonomy comes with the responsibility to secure backup phrases and account information.These wallets can take various forms, such as hardware wallets or software applications. They often feature enhanced security measures like two-factor authentication and encryption. However, the risk is higher if users lose their keys or forget their recovery phrases, as there is usually no way to recover lost funds.Overall, custody-free wallets empower users to take charge of their investments, making them a popular choice for those prioritizing security and self-management.