According to PANews, Binance founder CZ has published a streamlined guide to crypto asset security, recommending that users tailor their security measures to the value of their holdings and their technical abilities. The guide focuses on three key concerns: theft, loss, and inheritance.
The guide offers separate recommendations for self-custody and assets held on centralized trading platforms. For self-custody, it recommends using a dedicated offline computer to store keys and sign transactions, using a reputable hardware wallet, verifying transaction addresses, and keeping multiple backups in separate locations. It also advises against photographing or taking screenshots of keys, as these could be synced to cloud accounts. When planning for inheritance, users should develop a secure recovery plan in advance and avoid sharing keys directly or storing recovery information unencrypted. For centralized trading platforms, users are advised to assess the platform’s reputation, security capabilities, and business model, and to strengthen account protection with measures such as a dedicated email address, a strong password, two-factor authentication, a hardware security key, and a withdrawal address whitelist. They should also watch out for phishing attacks and API credential leaks.
The guide recommends that users allocate funds between exchanges and personal wallets based on their technical abilities, security practices, and access needs. Choosing self-custody means taking sole responsibility for protecting and recovering keys; choosing exchange custody means relying on the service provider’s reliability and maintaining strong account protections. In addition, using a separate wallet can ensure that funds remain accessible while an exchange is undergoing maintenance.
The guide offers separate recommendations for self-custody and assets held on centralized trading platforms. For self-custody, it recommends using a dedicated offline computer to store keys and sign transactions, using a reputable hardware wallet, verifying transaction addresses, and keeping multiple backups in separate locations. It also advises against photographing or taking screenshots of keys, as these could be synced to cloud accounts. When planning for inheritance, users should develop a secure recovery plan in advance and avoid sharing keys directly or storing recovery information unencrypted. For centralized trading platforms, users are advised to assess the platform’s reputation, security capabilities, and business model, and to strengthen account protection with measures such as a dedicated email address, a strong password, two-factor authentication, a hardware security key, and a withdrawal address whitelist. They should also watch out for phishing attacks and API credential leaks.
The guide recommends that users allocate funds between exchanges and personal wallets based on their technical abilities, security practices, and access needs. Choosing self-custody means taking sole responsibility for protecting and recovering keys; choosing exchange custody means relying on the service provider’s reliability and maintaining strong account protections. In addition, using a separate wallet can ensure that funds remain accessible while an exchange is undergoing maintenance.