Buying Concert Tickets with Crypto: How Non-custodial  Wallets Keep Your Funds Safe

The pandemic is long gone, and you can roam freely around music festivals and concerts. Now, you can see music events adopting new, exciting technology, such as AI-controlled lighting, sustainable venues, and cryptocurrency payments. 

While digital currency is extremely convenient and secure, however using it can be risky. Utilizing solutions like ? personal non-custodial crypto wallet gives you extra protection for your funds when you pay for concerts. Let’s find out in detail what a crypto storage with non-custodial technology is and how to use it to guard your transactions from hacks and scams.

Custodial vs Non-custodial wallets

A non-custodial wallet is a cryptocurrency storage where you are a sole proprietor of the the private keys or the seed phrase used to gain access to your funds that are stored on the blockchain. Non-custodial wallets are also sometimes referred to as self-custody wallets. This means that the private keys are stored on the device or a piece of software locally and only you have access to them.There are various types of non-custodial wallets:

• Hardware – where a seed phrase is stored on a device non-connected to the internet;
• Software – where the seed phrase is stored locally on your devices secure store, but it may be connected to the internet;
• Paper – write down your seed phrase on a piece of paper (not very secure);
• Metal –  inscribed on a metal card – safer than paper, but still not secure, as anyone can read it if they got hold of it;;
• Sound – record your seed phrase as a sound track, may be secure, but very inconvenient

Regardless of the type, it is very difficult for a hacker to intrude on your crypto with cold non-custodial storage, as unlike standard custodial solutions, where the connection is done through third party mediators, this wallet is fully autonomous. All of these solutions are perfect for long-term savings, but only software and some hardware wallets are designed for convenient withdrawal of funds as well as  for secure payments online.

How to Purchase a Ticket with a non-custodial Wallet

As a music fan who attends concerts and festivals fairly often, you should have access to your crypto to pay for tickets. Non-custodial wallet app from IronWallet ensures you have money when needed and that it is stored safely in a secure part of your device and encrypted with your password at all times. To buy a concert pass with such a wallet:

1. Choose the type of non-custodial wallet app that suits your needs .Transfer your funds from a cryptocurrency exchange to the wallet. Make sure the wallet is properly secured (e.g., by using a recovery phrase together with a PIN or a password).
2. Confirm the balance after you are done with the transfer to make sure the funds in your non-custodial wallet are available for  spending.
3. Pay for the pass using a QR code or by pasting the destination wallet address provided by the seller company. 

Remember never to share your seed phrase with anyone, as it is the only way to access your wallet, keep it secure and make sure you have a backup in case your device stops working or is misplaced.

Crypto in Music: Security Should Come First

New tech continues to impact the music industry non-stop, and most concert halls and companies are now accepting cryptocurrency as a form of payment. Using it to pay for tickets is convenient and a lot safer than traditional payment methods, but it can also pose certain risks. To eliminate the possibility of hacking and malware, use a personal non-custodial wallet. This solution protects your funds from cyber threats. Thus, you can focus on what truly matters—enjoying your favorite artists live.