What’s the difference between holding assets on an exchange and in a self-custody wallet?
Transfers between users on the same platform are generally recorded only on the platform’s ledger, not on-chain, so they’re often fast and don’t incur network fees.
The saying “not your private keys, not your coins” means that whether you can withdraw assets held on a platform ultimately depends on the custodian.
$BNB in your Binance account is held in custody by the platform. You only control the private keys after withdrawing it to your own wallet.
#BNB
Transfers between users on the same platform are generally recorded only on the platform’s ledger, not on-chain, so they’re often fast and don’t incur network fees.
The saying “not your private keys, not your coins” means that whether you can withdraw assets held on a platform ultimately depends on the custodian.
$BNB in your Binance account is held in custody by the platform. You only control the private keys after withdrawing it to your own wallet.
#BNB
