True security for cryptocurrencies and data can only be ensured by a self-custodial crypto wallet. In such a solution, private keys are stored by the user rather than a third party. In this article, we will discuss what to look for when choosing a crypto wallet self custodial  and provide a short list of top wallets. You can decide for yourself which one is the best self custodial crypto wallet for business.

How to Choose the Best Self-Custodial Crypto Wallet

The criteria to consider can be divided into two groups: the first ensures security and reliability, while the second focuses on convenience in managing crypto assets. Let's start with security.

Security Features

Make sure that:

  • A unique seed phrase is generated during account setup. Without it, you do not control your cryptocurrencies.

  • The crypto wallet self custodial software is installed on your own server, allowing you to maintain full financial independence from third parties.

  • Transaction history is securely encrypted, ideally with a 512-bit key. Currently, no existing technology can crack such encryption.

  • The wallet's IP address is protected. Avoid exposing your real address to public nodes, as it could be accessed by hackers trying to determine the actual location of the wallet's server.

Convenience Features

To manage cryptocurrency financial flows as easily as fiat transactions, your self custodial crypto wallet should offer:

  • The ability to create unlimited sub-wallets, which is crucial for separating funds from different revenue sources.

  • Multi-user access with different permission levels to involve the necessary employees.

  • AML risk assessment for cryptocurrency addresses, helping to sort assets across different addresses and prevent the risk of clean funds being blocked due to proximity to high-risk transactions.

  • Balance reports that record exchange rates at the time of deposits.

  • Mass payouts to multiple recipients in just a few clicks.

  • Auto-withdrawals for maintaining optimal wallet balances.

Top Self-Custodial Crypto Wallets

For Business: BitHide

This product was developed with business needs in mind and addresses key pain points:

  • Seamless integration with websites and CRM systems via API.

  • Automatic address generation for each client payment.

  • Multi-user access with customizable roles.

  • Proxy payments and auto-withdrawals for transaction efficiency.

  • Unlimited sub-wallets and flexible address management.

  • Self-hosted software, ensuring full control over funds and security.

This makes BitHide one of the best self custodial crypto wallet solutions for businesses.

For Personal Use: MetaMask

This wallet has two key features. It can be used directly from a web browser. It's designed for Ethereum-based assets, meaning you'll need to use the Bridge function to send or receive funds on other networks. Additionally, MetaMask includes a built-in swap function for users who prefer not to open exchange accounts for buying and selling crypto.

For Personal Use: Trust Wallet

Trust Wallet is promoted as a highly secure self custodial crypto wallet, allowing users to manage thousands of cryptocurrencies across hundreds of blockchains. However, it is not an ideal solution for businesses because:

  • It cannot be installed on a private server.

  • It does not support mass payouts.

  • It lacks balance reporting and export features.

Conclusion

Different solutions suit different needs. Businesses should opt for a self-custodial crypto wallet that installs directly on their own equipment, ensuring full control over security and financial management. It's also essential to evaluate the technological features that provide data protection and ease of use.

The BitHide self custodial crypto wallet was specifically designed for companies in high-risk industries, addressing their unique requirements and challenges.