Which Wallet to choose to work with TON?
A wallet is an app that allows users to work with crypto in a comfortable interface. There are two types of wallets with different approaches to private key management.
- Non-custodial wallets store the private key on the device the wallet is installed on. E.g Tonkeeper stores your encrypted private key on mobile or desktop. Only you have control over your funds and only you are responsible for their security.
- Custodial wallets store the private key in custody, usually on the wallet's servers or with a third-party custodian. Should something happen to them, you'll lose control over your wallet. For example, any centralized exchange is in fact a custodial wallet, as you don’t have private keys to the address where you deposit your funds.
Non-custodial wallets are safer, but you are responsible for maintaining the security. Custodial wallets are less safe but might be more comfortable for newcomers.
We recommend using a non-custodial wallet like Tonkeeper for better security.