When I first got into crypto, I always thought understanding candlestick charts was enough. Then I realized the basics are the real starting point.
Today's topic: exchange accounts and self-custody wallets
Binance regularly publishes Proof of Reserves, which users can verify using a Merkle tree to check whether their balances are included.
Remember to enable two-factor authentication and a withdrawal whitelist on your exchange account. These provide much stronger protection than relying on a password alone.
The $BNB in your Binance account is held in custody by the platform. Only after transferring it to a self-custody wallet do you control the private keys yourself. Currently 622.89.
Today's topic: exchange accounts and self-custody wallets
Binance regularly publishes Proof of Reserves, which users can verify using a Merkle tree to check whether their balances are included.
Remember to enable two-factor authentication and a withdrawal whitelist on your exchange account. These provide much stronger protection than relying on a password alone.
The $BNB in your Binance account is held in custody by the platform. Only after transferring it to a self-custody wallet do you control the private keys yourself. Currently 622.89.
