According to PANews, Binance founder and former CEO Changpeng Zhao (CZ) released a concise guide to crypto asset security, recommending that users match security measures to the value of their holdings and their technical capabilities, with a focus on three key concerns: preventing theft, avoiding loss, and inheritance planning.
The guide offers separate recommendations for self-custody and assets held on centralized exchanges. 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 sync to cloud accounts. For inheritance planning, users should prepare a secure recovery plan in advance and avoid sharing keys directly or storing recovery information unencrypted. For centralized exchanges, users should assess the platform’s reputation, security capabilities, and business model, and strengthen account protection with a dedicated email address, a strong password, two-factor authentication, a hardware security key, and a whitelist of withdrawal addresses. Users should also watch out for phishing attacks and API credential leaks.