In a non-custodial system:
You own your access, and with them, your funds.
The platform (in this case CHEQs) does not store or access your PIN, Password, or Backup Cards.
You are the only party able to approve transactions from your account.
Benefits of Non-Custodial (Self-Custody) Accounts:
True Financial Ownership: Only you can access or move your funds.
Censorship Resistance: No third party can freeze or block your account.
No Platform Lock-In: Your access is not dependent on CHEQs’ continued operation.
Lower Risk of Mass Breaches: No central vault of user data to be hacked.
This model prioritizes user privacy, autonomy, and decentralization. However, if recovery information is lost, CHEQs cannot reset your account or recover access on your behalf.
In contrast, a custodial system:
The platform holds your access passwords and manages your assets.
You rely on the platform for access, security, and recovery.
Your control over the account is limited by the custodian’s systems and policies.
While custodial platforms can be easier to use and offer recovery services, they also come with additional risks:
Loss of Control: The custodian can freeze or restrict access to your funds.
Security Breaches: Centralized platforms are frequent targets for hacks and leaks.
Compliance Lockouts: If the custodian faces regulatory or legal issues, your assets may be frozen or seized without notice.
Insolvency Risk: If the platform goes bankrupt, your funds may not be recoverable.
Limited Transparency: You must trust that the custodian is operating honestly and securely.
CHEQs is designed to make non-custodial management secure and as easy to use as a custodial platform. CHEQs uses
PIN-based actions instead of seed phrases to keep the account keys always secret
Backup system: Account Card (blue) + Emergency Card (red) to enable simple account migration and PIN Code recovery
Emergency Password for PIN resets
No third-party access to your private credentials or funds
We strongly recommend:
Backing up your files immediately and storing them securely
Avoiding cloud storage for sensitive recovery files
Never sharing your PIN or Emergency Password
You can always reach out to the support team if you need any help. Click on the “Help & Support” widget (the rectangular button on the right of your screen).
