About exchange accounts and self-custody wallets:
Transfers between users on the same platform are usually handled on the platform’s internal ledger and aren’t recorded on-chain, so they’re often fast and don’t incur network fees.
The advantage of an exchange account is convenience: if you forget your password, you can recover access through a verification process. However, your assets’ security depends on the platform itself.
$BNB 726.17 (+2.01%)
Transfers between users on the same platform are usually handled on the platform’s internal ledger and aren’t recorded on-chain, so they’re often fast and don’t incur network fees.
The advantage of an exchange account is convenience: if you forget your password, you can recover access through a verification process. However, your assets’ security depends on the platform itself.
$BNB 726.17 (+2.01%)