smart contracts</strong></a>. They are blockchain-based self-executing programs without a central authority.</p>\n<p>While custodial services require a centralized figure to possess the assets of a customer for safekeeping or management, non-custodial services are decentralized as they do not rely on any intermediaries. Non-custodial services are preferred in the crypto industry due to lower risks and a higher level of decentralization.</p>\n<p><strong>Custodial services pose numerous risks</strong>, such as censorship, confiscation, or increased processing time. Some examples of custodial services are <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-centralized-exchange-cex/">centralized exchange platforms (CEXs)</strong></a> such as Coinbase and Binance, digital asset management services like PayPal, or fiat-backed <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-stablecoin/">stablecoins, such as Tether (USDT) or the USD Coin (USDC).</p>\n<p><strong>Non-custodial services are trustless</strong>, meaning that they do not rely on any centralized authorities. Furthermore, they are censorship-resistant, cannot be confiscated, offer faster processing times, and do not pose the risk of insolvency or downtime. Decentralized services are considered to be less complex to use than custodial services.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-exchange-dex/">Decentralized exchange platforms (DEXs)</strong></a> like Uniswap or Binance Dex, are the prime examples of non-custodial services. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-algorithmic-stablecoin/">Algorithmic stablecoins</strong></strong></a> like Dai (DAI) and Ampleforth (AMPL), digital asset management services such as Genesis Vision, and lending/borrowing services like Compound also act as non-custodial.</p>\n<p>Customers can find non-custodial wallet solutions, which allow them to maintain full ownership over their crypto assets by holding both their <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-key-secret-key/">private keys</strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-recovery-seed/">recovery seeds</strong></a>. 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Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":882,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Node.js?","slug":"what-is-node-js","section":"N","keyword":"Node.js","status":"published","definition":"a back-end JavaScript runtime environment based on the V8 engine that executes JavaScript code outside of a web browser.","content":"<p><strong>Node.js </strong>is a cross-platform&nbsp;open-source back-end <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-javascript/">JavaScript runtime environment that executes JavaScript code outside of a web browser using the <strong>V8 engine</strong>. It is mostly used for event-driven servers such as ordinary websites and back-end <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-api/">API services. In simple terms, Node.js runs full websites on a single \"<strong>stack</strong>,\" allowing you to focus on the project's business objectives rather than development and maintenance.</p>\n<p>Though a key aspect to remember about Node.js is that it is a runtime environment, not a framework or library, as is the case with <strong>traditional application software</strong>. A runtime environment (RTE) is a set of Web APIs that a developer can use to write code, and a JavaScript engine to read it. This makes it <strong>lightweight</strong>, adaptable, and simple to deploy, all of which will help you optimize and speed up your application development project.</p>\n<p>Besides, note that Node.js is free and it is <strong>constantly improved</strong> by a global developer community since it is open-source.</p>\n<h3>The Basic Architecture of Node.js</h3>\n<p>Node.js is popular among programmers due to its architecture. Unlike most other runtime environments that run on multi-threaded processing, <strong>Node.js works on a single thread</strong>.</p>\n<p>Each server in a multi-threaded processing configuration has a thread pool that it can access. Therefore, whenever a server receives a request, it <strong>chooses a thread from the pool</strong> and assigns it to the request for processing. In this scenario, the processing is synchronous and sequential, which means that only one operation is performed at a time.</p>\n<p>When using multiple-thread processing, <strong>a thread is assigned to each request until all threads have been utilized</strong>. When this occurs, the server must wait for a thread that has become unavailable to become available again. This could lead to slow and inefficient apps, which can have a <strong>negative impact on</strong> everything from customer experience to lead conversions. It's especially complicated if your application has to process a big number of client requests at the same time.</p>\n<p>In contrast, Node.js runs on a single thread. The difference between the two is that <strong>single-thread systems are likely to use event loops</strong> to do non-blocking Input/Output activities. The principle of a single-thread design is that it can run and grow faster and more effectively than multiple-thread designs. Ryan Dahl had this in mind when he designed Node.js, and it's <strong>one of the reasons why it's so popular</strong> among web application developers.</p>\n<h2>Examples of Node.js Usage in Application Development</h2>\n<p>Here are some of the most well-known examples of applications that use Node.js for their development.</p>\n<h3>NASA</h3>\n<p>In this case, Node.js is crucial because it saves lives by keeping astronauts safe during risky space flights. NASA had to find a way to unify data linked to EVA spacesuits into a single cloud database <strong>to minimize access times</strong>. They needed to do that after a near-fatal mishap caused by inefficient data stored in many locations. The new Node.js-based system cut the process's number of steps from 28 to 7.</p>\n<h3>Walmart</h3>\n<p>Walmart is the world's largest retailer, and it's getting into the online shopping game. The organization decided to join the Node.js bandwagon to re-engineer its mobile app. They wanted to include <strong>more complex functionality</strong>. Node.js was praised by Walmart for its asynchronous I/O and single-threaded event loop architectures, which enabled it to handle several inquiries at the same time.</p>\n<h3>LinkedIn</h3>\n<p><strong>LinkedIn</strong>, the world's largest business and employment-oriented social networking site migrated its mobile app from Ruby on Rails to Node.js. It turned out to be a sensible idea, despite the fact that it was still a rather immature runtime environment at the time. The <strong>new software was 2-10 times faster</strong> than the old one and was also much lighter. In addition, the development time was really short.</p>\n<h3>Netflix</h3>\n<p>Probably everybody knows what Netflix is. Though not everyone might know that it's a data-driven platform that does rigorous A/B testing to give its 195 million+ global users a rich experience. The enormous number of <strong>unique packages</strong> released each push cycle adds to the complexity of conditional dependencies and app scalability. Therefore, the company chose Node.js, which is light and fast. A 70% reduction in loading time was one of the most significant outcomes of choosing Node.js.</p>","level":"hard","meta_title":"What is Node.js? Definition & Meaning | Crypto Wiki","meta_description":"Node.js meaning: Node.js - a back-end JavaScript runtime environment based on the V8 engine that executes JavaScript code outside of a web browser.","meta_keywords":null,"language":"en","created_at":"2022-04-08T10:24:02.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-node-js"},"prevSection":{"id":562,"original_id":null,"author_id":41,"translator_id":null,"title":"What is No-Coiner?","slug":"what-is-no-coiner","section":"N","keyword":"No-Coiner","status":"published","definition":"a person without cryptocurrency in their portfolio who believes that cryptocurrency is set to fail.","content":"<p>A <strong>no-coiner</strong> is a <strong>person who believes that <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrencies have little to no value</strong> and are guaranteed to fail. No-coiners do not hold any digital assets in their <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-portfolio/">portfolios. However, a lack of crypto assets in a portfolio is not a clear indication that a person is a no-coiner, as the label relates to the negative beliefs they hold towards cryptocurrencies.</p>\n<p>In some cases, a no-coiner attitude comes from a failure to invest in the early days of <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a>. Therefore, the person may hold resentment towards investors who succeeded and gained significant profits from their crypto investments.</p>\n<p>Some of the sentiments often shared by no-coiners are that cryptocurrency is a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-scam/">scam, a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-money-laundering/">money-laundering scheme</strong></a>, or a <strong>market bubble</strong> that will explode in a similar manner as the housing bubble in 2008, which led to the global financial crisis.</p>\n<p>No-coiner attitude often goes beyond skepticism as they are strongly convinced that cryptocurrencies cannot succeed and will crash and burn in the foreseeable future. Although there is proof of crypto utility, <strong>no-coiners believe it can be used solely for illicit activities</strong>, like theft and money laundering.</p>\n<p>Some describe the attitude of no-coiners using the philosophical term <em>ressentiment</em>, or the act of blaming personal failures on external factors. The ardent anti-cryptocurrency stance of no-coiners is comparable to the strong pro-cryptocurrency beliefs of crypto evangelists.</p>","level":"easy","meta_title":"What is No-Coiner? Definition & Meaning | Crypto Wiki","meta_description":"No-Coiner meaning: No-Coiner - a person without cryptocurrency in their portfolio who believes that cryptocurrency is set to fail.","meta_keywords":null,"language":"en","created_at":"2022-03-24T07:05:26.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-no-coiner"},"currentChapter":"N","currentSection":"what-is-non-custodial","chapterTitle":"N","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-non-custodial","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter N

What is Non-Custodial?

Non-Custodial MEANING:
Non-Custodial - a decentralized service of holding assets or funds in a smart contract during a transaction or any other financial operation.
Medium
2 minutes

Let's find out Non-Custodial meaning, definition in crypto, what is Non-Custodial, and all other detailed facts.

Non-custodial is a service that does not require a third party to hold custody over the assets of a customer during the duration of a transaction or other financial services. The process occurs by using trustless smart contracts. They are blockchain-based self-executing programs without a central authority.

While custodial services require a centralized figure to possess the assets of a customer for safekeeping or management, non-custodial services are decentralized as they do not rely on any intermediaries. Non-custodial services are preferred in the crypto industry due to lower risks and a higher level of decentralization.

Custodial services pose numerous risks, such as censorship, confiscation, or increased processing time. Some examples of custodial services are centralized exchange platforms (CEXs) such as Coinbase and Binance, digital asset management services like PayPal, or fiat-backed stablecoins, such as Tether (USDT) or the USD Coin (USDC).

Non-custodial services are trustless, meaning that they do not rely on any centralized authorities. Furthermore, they are censorship-resistant, cannot be confiscated, offer faster processing times, and do not pose the risk of insolvency or downtime. Decentralized services are considered to be less complex to use than custodial services.

Decentralized exchange platforms (DEXs) like Uniswap or Binance Dex, are the prime examples of non-custodial services. Algorithmic stablecoins like Dai (DAI) and Ampleforth (AMPL), digital asset management services such as Genesis Vision, and lending/borrowing services like Compound also act as non-custodial.

Customers can find non-custodial wallet solutions, which allow them to maintain full ownership over their crypto assets by holding both their private keys and recovery seeds. This includes both hot wallets like TrustWallet, and hardware wallets such as Ledger or Trezor.

Custodial services provide customers with reliable recovery and security, as centralized services insure the assets in the event of theft or other malicious activities. Using non-custodial services may be riskier as some bugs or errors within the smart contracts may be used as exploits for theft. 

Furthermore, if the customer of a non-custodial service loses their access to the account, they may be unable to recover the funds. Custodial assets are easier to recover due to the identification methods available.

Anti-money laundering (AML) regulations like the FATF Travel Rule directly affect custodial cryptocurrency services. This push toward regulation has piqued users’ interest in non-custodial solutions which offer anonymity.
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