Michael Richard198_ Baker#11

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DeFi vs centralized wallets: Which is better?

DeFi wallets, also known as non-custodial wallets, allow users to control their own keys and interact directly with decentralized applications. Centralized wallets, such as those provided by exchanges, store keys on behalf of users, making them more convenient but less secure. DeFi wallets provide more freedom and reduce reliance on intermediaries, but they require technical knowledge and personal responsibility for key security. Centralized wallets are better for beginners who prioritize ease of use but come with counterparty risk if the provider is hacked or insolvent. The choice depends on whether a user values independence or convenience more.