🗂️ Wallets and Security | Exchange Accounts and Self-Custody Wallets
· Definition: Transfers between users on the same platform are generally recorded only on the platform’s ledger, not on the blockchain, so they’re often fast and incur no network fees.
· Why: Exchange accounts are convenient: if you forget your password, you can reset it through the verification process. However, the security of your assets also depends on the platform itself.
· Reminder: Before transferring a large amount to a self-custody wallet for the first time, back up your recovery phrase and practice restoring the wallet.
$BNB 625.74（-3.42%）
· Definition: Transfers between users on the same platform are generally recorded only on the platform’s ledger, not on the blockchain, so they’re often fast and incur no network fees.
· Why: Exchange accounts are convenient: if you forget your password, you can reset it through the verification process. However, the security of your assets also depends on the platform itself.
· Reminder: Before transferring a large amount to a self-custody wallet for the first time, back up your recovery phrase and practice restoring the wallet.
$BNB 625.74（-3.42%）
