One question: What’s the difference between keeping assets on an exchange and keeping them in a self-custody wallet?
With a self-custody wallet, you hold your own private keys. Transfers don’t require approval from any platform, and no one can help you recover a lost recovery phrase.
Assets held on an exchange are custodied by the platform, which controls the private keys. The balance you see in your account is a record in the platform’s ledger.
Funds you use for frequent trading are often kept on an exchange. For long-term holdings, you may want to consider transferring them to a wallet whose private keys you control.
The $BNB in your Binance account is custodied by the platform. After you withdraw it to your own wallet, you’re responsible for keeping the private keys safe.
#BNB
With a self-custody wallet, you hold your own private keys. Transfers don’t require approval from any platform, and no one can help you recover a lost recovery phrase.
Assets held on an exchange are custodied by the platform, which controls the private keys. The balance you see in your account is a record in the platform’s ledger.
Funds you use for frequent trading are often kept on an exchange. For long-term holdings, you may want to consider transferring them to a wallet whose private keys you control.
The $BNB in your Binance account is custodied by the platform. After you withdraw it to your own wallet, you’re responsible for keeping the private keys safe.
#BNB
