Non-custodial for crypto wallets means that it is a type of Blockchain wallet that lets you be your own bank. The Nimiq Wallet is a non-custodial wallet. This implies that you have full control over your funds and the associated private key (“Your keys, your coins”). Non-custodial exchange of assets means that you are not giving up control of your funds until it is guaranteed that you receive the other asset you are swapping them for. On the crypto side of the swap this is enforced through cryptographic magic (HTLCs) and on the fiat side of the swap through programmatic, verifiable commitment by the independent EUR HTLCs provider (ie. TEN31 Bank).
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