Should you keep your assets on an exchange or transfer them to your own wallet?
It’s important to understand the difference between exchange accounts and self-custody wallets.
Exchange accounts are convenient: if you forget your password, you can reset it through a verification process. However, your assets’ security also depends on the platform itself.
Every potential return comes with risk, so make sure you understand the worst-case scenario.
The $BNB in your Binance account is held in custody by the platform. Only after you withdraw it to a self-custody wallet do you control the private keys yourself.
#BNB
It’s important to understand the difference between exchange accounts and self-custody wallets.
Exchange accounts are convenient: if you forget your password, you can reset it through a verification process. However, your assets’ security also depends on the platform itself.
Every potential return comes with risk, so make sure you understand the worst-case scenario.
The $BNB in your Binance account is held in custody by the platform. Only after you withdraw it to a self-custody wallet do you control the private keys yourself.
#BNB