Is the balance shown on an exchange the same thing as the coins in a wallet?
Remember to enable two-factor authentication and a withdrawal whitelist on your exchange account. That’s much safer than relying on a password alone.
Simply put, the old saying “not your keys, not your coins” means that with assets held in custody by a platform, whether you can withdraw them ultimately depends on the custodian.
The $BNB in your Binance account is held in custody by the platform. Once you transfer it to a self-custody wallet, you’re in control of the private keys.
#BNB
I could be wrong too, so make your own judgment.
Remember to enable two-factor authentication and a withdrawal whitelist on your exchange account. That’s much safer than relying on a password alone.
Simply put, the old saying “not your keys, not your coins” means that with assets held in custody by a platform, whether you can withdraw them ultimately depends on the custodian.
The $BNB in your Binance account is held in custody by the platform. Once you transfer it to a self-custody wallet, you’re in control of the private keys.
#BNB
I could be wrong too, so make your own judgment.