> For the complete documentation index, see [llms.txt](https://docs.leather.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.leather.io/learn/what-is-a-self-custody-bitcoin-wallet.md).

# What is a Self-Custody Bitcoin Wallet?

A self-custody wallet leaves your private keys with you, not with a company. What that gives you, what it asks of you, and how Leather fits.

A self-custody wallet leaves the private keys, and so control of your funds, with you. No company can freeze, move or lose your assets, and none can recover them for you. Self-custody and non-custodial mean the same thing.

## Compared with a custodial wallet

|                    | Custodial                                    | Self-custody                             |
| ------------------ | -------------------------------------------- | ---------------------------------------- |
| Who holds the keys | The provider                                 | You                                      |
| Setup              | Account, usually with identity checks        | Install the app and back up a Secret Key |
| Recovery           | The provider can restore access              | Only your Secret Key restores the wallet |
| Freezes and limits | The provider can freeze or limit the account | Nobody can                               |
| Main risk          | A hack or failure of the provider            | Losing or exposing your Secret Key       |

See [Custodial vs. Non-Custodial Wallets](/learn/custodial-vs-non-custodial-wallet.md).

## Why self-custody matters

When an exchange holds your bitcoin, you hold a claim on the exchange. If it is hacked or fails, as Mt. Gox did in 2014, customers can lose their funds. With self-custody, your bitcoin stays under your keys.

Many people buy on an exchange and then withdraw to a self-custody wallet.

## Leather

Leather is a self-custody wallet. Your Secret Key is created on your device, and Leather cannot see or recover it. See [Create a New Wallet](/get-started/create-new-wallet.md) and [Secure Your Secret Key](/wallet-and-security/secure-secret-key.md).