Should you keep your crypto on an exchange or move it to your own wallet?
One detail: Binance regularly publishes Proof of Reserves, which lets users use a Merkle tree to verify whether their balances have been included.
The advantage of an exchange account is convenience: if you forget your password, you can reset it after verifying your identity. But the security of your assets also depends on the platform itself.
Understanding this is worth more than memorizing a bunch of jargon. When you hear claims of high returns, be cautious.
The $BNB in your Binance account is held in custody by the platform. Once you withdraw it to your own wallet, you become responsible for safeguarding the private keys.
Make your own decisions when buying and selling; don't follow the crowd.
One detail: Binance regularly publishes Proof of Reserves, which lets users use a Merkle tree to verify whether their balances have been included.
The advantage of an exchange account is convenience: if you forget your password, you can reset it after verifying your identity. But the security of your assets also depends on the platform itself.
Understanding this is worth more than memorizing a bunch of jargon. When you hear claims of high returns, be cautious.
The $BNB in your Binance account is held in custody by the platform. Once you withdraw it to your own wallet, you become responsible for safeguarding the private keys.
Make your own decisions when buying and selling; don't follow the crowd.