Should assets be kept on an exchange, or moved to your own wallet?
Binance regularly publishes Proof of Reserves, and users can verify with a Merkle tree whether their balances are included.
Before making a large transfer to a self-custody wallet for the first time, back up your recovery phrase and then do a restoration test.
The $BNB in your Binance account is custodied by the platform; only after withdrawing to your own wallet do you hold the private keys yourself.
Any additional thoughts? Share them in the comments.
#BNB
Binance regularly publishes Proof of Reserves, and users can verify with a Merkle tree whether their balances are included.
Before making a large transfer to a self-custody wallet for the first time, back up your recovery phrase and then do a restoration test.
The $BNB in your Binance account is custodied by the platform; only after withdrawing to your own wallet do you hold the private keys yourself.
Any additional thoughts? Share them in the comments.
#BNB