You can store your domains in two types of wallets when you purchase a domain here at Unstoppable Domains - a custody wallet, and a self-custody wallet.
Red: Platform Custody Wallet
Green: Self Custody Wallet
Platform Custody Wallet
By default, whenever you purchase a domain, it will automatically be minted into a platform wallet, "Lite Wallet", that we provide your account: this is a custody wallet. We do this when no minting address has been specified to allow for the domains to be held in your account.
Any domain that is held within this custody wallet can be moved to another wallet by us and yourself, meaning that if you were to lose access to your account for whatever reason, and wanted your domains to be transferred to a new one, we could do that for you so long as they are held in this wallet. We also sign blockchain transactions on your behalf, meaning there's no need to connect to a third party wallet provider each time you wish to update your Domain.
Self Custody Wallet
You can, however, connect your own self-custody wallet to your account and mint domains there instead, by setting a minting wallet in account settings. This self-custody wallet would be a hardware wallet (Ledger, Trezor, KeepKey) or a software wallet (MetaMask, Trust, Coinbase, Activated Lite Wallet).
The benefit of this kind of wallet is that you retain absolute ownership over your digital assets. However in the event of you losing access to the wallet there is nothing we can do to recover your domains. If you prioritise complete control, this is the better option.
Additional Information
There is nothing stopping you from keeping your domains in a mix of self-custody wallets, and the platform wallet. At any point, you can turn your platform wallet into a self-custody wallet by setting it up in your account settings page. Additionally, so long as you aren't transferring .eth domains, you can transfer domains from your custody wallet to your self-custody wallet whenever you want at no additional fee.
If you have any questions about these wallet options, please reach out to us at support@unstoppabledomains.com Thank you for being part of this journey!