More changes from venly. Don’t understand anything of all this…
It formally means more control to you as a user and actually less responsibility for Venly Custodial Wallets vs. Non-Custodial Crypto Wallets As they still can ask you for identity validation due to EU laws it doesn’t mean much, same as Phantom.
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all well but i can’t access my wallet. it won’t go away
i first have to take care of this and generate emergency code
???
Isn´t KYC the standart for crypto wallets? Never understood why they should be more “anonymous” or “safe” if you have to verify them with an ID first.
no, it’s not the standard but ‘they’ want it to become the standard.
I can create a Crypto wallet right now, using a burner phone download a wallet and generate some keys. JohnDoe can send funds to that wallet and no one would actually know it’s me. you can still do it if you Opt in for wallets created for people to use that don’t depend on companies to manage them.
Be Among Smart 8%
Only about 8% of bitcoin owners are estimated to keep their coins in complete safety and privacy. There are hundreds of bitcoin wallet apps. Most wallets are custodial, therefore — not secure, not private, and not independent.
Even if a wallet is non-custodial, it may still not be secure. Only reproducible wallets are completely secure.
What are custodial wallets?
Custodial wallets are considered a low-entry barrier for those new to the crypto space since they are easy to use and can be accessed from any device with an internet connection. However, security is a major concern.
With custodial wallets, private keys are held by a third party, e.g. a crypto exchange or a wallet provider, which means users don’t really control their crypto assets. Instead, users have to trust that the third-party custodian will secure their crypto for them.
While some providers offer insurance for cryptocurrency they store, custodial wallets have caused large Bitcoin losses in the past due to mismanagement and/or negligence with respect to securing users’ funds.
decrypt.co/
What are non-custodial wallets?
non-custodial wallets (also known as self-custody wallets) are designed to give users full control over their private key; however, with the freedom to be their own bankers also comes sole responsibility for protecting their holdings.
(I guess be a responsible Adult and take measure into your own hands) 
recommend you look here for some wallets (seek non-custodial + reproducible) :
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That´s great intel, thank you 
I set up an emergency code and now they ask me to migrate my wallet before i can move on
What do i do? Is this ok? Can someone help me?
Migration is from Custodial Wallets to Non-Custodial.
Its ok but read explanation from posts above.
You can proceed wallet migration if you understand differences (Custodial Wallets vs Non-Custodial).
Another explanation:
Custodial wallets and non-custodial wallets are two different types of digital wallets used for storing cryptocurrencies like Bitcoin or NFTs.
A custodial wallet is like a bank account. When you use a custodial wallet, you are essentially trusting a third-party service or company to store your cryptocurrencies on your behalf. They control and manage your wallet’s private keys, which are like secret codes that give you access to your funds. So, you don’t directly control your funds in a custodial wallet, and the service provider can restrict your access or even freeze your funds if they decide to do so.
On the other hand, a non-custodial wallet gives you full control over your cryptocurrencies. With a non-custodial wallet, you are responsible for managing your own private keys and storing them securely. You are in complete control of your funds and have the freedom to send, receive, and manage your cryptocurrencies as you wish. Non-custodial wallets are usually downloaded as software or apps that you install on your device.
In summary, custodial wallets rely on a third-party service to store and control your cryptocurrencies, while non-custodial wallets give you full control and ownership of your funds.
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I read the explanation but how do I proceed practically?
Click on
yes i know but i’m afraid to loose my nft’s…
@RobbyHa No, I haven’t.
Below is the quick guide to move the NFT from Venly to Phantom.
Step 1 : Copy the Polygon Address from your Phantom wallet,
Polygon Address
Step 2 : Go to your Venly wallet and choose the NFT you would like to transfer, and paste the Polygon address you copied in Step 1 and click on Transfer.
Step 3 : After clicking on ‘Transfer’, a pop-up will open where you will be asked to confirm the transaction using your pin code.
Step 4 : You will receive a successful message like below,
Step 5 : You can check Recent Activity in Phantom wallet, to check if you received the NFT
Step 6 : Now you can view the NFT in the Inventory
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The best thing is to seek help from Venly customer support…
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Can other people confirm this process works 100% so we can all move on?
Does everyone think this is the fastest and easiest way?
I was able to change the pin to a 6 digit one and was also able send the nft without identification
My wallet is also migrated but don’t know to where…
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Yes, I also transferred my NFT to the phantom wallet when the polygon network support appeared there.
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