Someone asked: What’s the difference between keeping coins on an exchange and keeping them in your own wallet?
I usually answer like this: Transfers between users on the same platform are usually recorded only in the platform’s ledger, not on the blockchain, so they’re often quick and don’t incur network fees. The saying “Not your keys, not your coins” means that whether you can withdraw assets held in custody ultimately depends on the custodian.
$BNB 693.79（-0.86%）
What do you think? Join the discussion in the comments.
I usually answer like this: Transfers between users on the same platform are usually recorded only in the platform’s ledger, not on the blockchain, so they’re often quick and don’t incur network fees. The saying “Not your keys, not your coins” means that whether you can withdraw assets held in custody ultimately depends on the custodian.
$BNB 693.79（-0.86%）
What do you think? Join the discussion in the comments.