Let’s talk about exchange accounts and self-custody wallets.
When you withdraw from an exchange to an on-chain address, the platform actually initiates an on-chain transaction and charges the corresponding network fee.
To be honest, I only learned this later: before transferring a large amount to a self-custody wallet for the first time, back up your recovery phrase and do a test recovery.
The $BNB in your Binance account is held in custody by the platform. Once you withdraw it to your own wallet, you control the private keys yourself.
Don’t click links from unknown sources, and check carefully what you’re authorizing before you approve it.
When you withdraw from an exchange to an on-chain address, the platform actually initiates an on-chain transaction and charges the corresponding network fee.
To be honest, I only learned this later: before transferring a large amount to a self-custody wallet for the first time, back up your recovery phrase and do a test recovery.
The $BNB in your Binance account is held in custody by the platform. Once you withdraw it to your own wallet, you control the private keys yourself.
Don’t click links from unknown sources, and check carefully what you’re authorizing before you approve it.