> ## Documentation Index
> Fetch the complete documentation index at: https://docs.walley.cc/llms.txt
> Use this file to discover all available pages before exploring further.
# Self-Custody: Sole Control Over Your Keys and Funds
> Learn what self-custody means, how it differs from custodial wallets, and why Walley puts you in full control of your assets on the Canton Network.
Self-custody means you hold the cryptographic keys that control your funds — no bank, exchange, or third-party service can access, freeze, or move your assets on your behalf. With Walley, you are the sole authority over your wallet. That power comes with both freedom and responsibility.
## Custodial vs. Non-Custodial Wallets
Understanding the difference between custodial and non-custodial wallets is the first step to understanding what Walley does — and does not — do for you.
A third party (a bank, exchange, or app provider) holds your private keys on your behalf. You trust them to secure your funds and execute transactions when you request them. If they are hacked, go offline, or freeze your account, you may lose access to your funds.
You hold your own private keys. No intermediary can access your funds, approve transactions, or recover your wallet. Your assets exist on the ledger and are controlled exclusively by the keys you possess.
| | Custodial | Non-Custodial (Walley) |
| ------------------------------------- | ----------------------------- | --------------------------------- |
| Who holds your keys? | The service provider | You |
| Can the provider access your funds? | Yes | No |
| Can the provider recover your wallet? | Yes | No |
| Who approves transactions? | The provider (on your behalf) | You, directly |
| What happens if you lose credentials? | Provider can reset access | You must use your recovery phrase |
## What Walley Can and Cannot Do
Walley is a non-custodial wallet interface for the Canton Network. It provides the tools to create and manage your wallet, sign transactions, and interact with decentralized applications — but it never takes custody of your assets.
Walley does not store your private keys, does not have visibility into your balance through any custodial mechanism, and cannot initiate or reverse transactions on your behalf.
Specifically, Walley **cannot**:
* Recover your wallet if you lose your passkey and recovery phrase
* View or access your funds independently
* Freeze, hold, or confiscate your assets
* Reverse a transaction you have submitted
Walley **can**:
* Generate and manage your cryptographic keys locally on your device
* Sign transactions using your passkey or recovery phrase session
* Connect to Canton Network dApps and services
* Display your on-ledger balances and transaction history
## Full Control, Full Responsibility
Self-custody gives you complete ownership of your assets. No one can block you from transacting, no one can freeze your account, and no one can reverse an unauthorized transfer — because no one else has your keys.
This also means the responsibility for securing your wallet falls entirely on you. There is no customer support team that can reset your access. Your [recovery phrase](/concepts/recovery-phrase) is the only way to restore your wallet if your passkey is unavailable, so treat it with the same care you would give to physical cash or a bearer bond.
If you lose both your passkey and your 24-word recovery phrase, access to your wallet is permanently and irreversibly lost. Walley has no mechanism to restore it.
Write down your recovery phrase on paper as soon as you create your wallet. Store it in a secure, offline location — never in a cloud note, email, or screenshot.