Exchange vs. Self-Custody: Which Is the Safer Way to Store Your Crypto?
- Crypto custody balances convenience and control with different security responsibilities for users.
- Exchange custody offers managed security while self-custody gives users full key ownership.
- The right custody choice depends on investor experience security needs and risk tolerance.
Choosing where to store cryptocurrency is one of the most important decisions digital asset holders make. The discussion has gained attention after Binance founder Changpeng Zhao (CZ) said cryptocurrencies may be much safer on centralized exchanges than in self-custody, citing the difficulty of measuring losses that occur outside public view.
His comments followed data shared by analyst Willy Woo, which estimated that about 1.57 million BTC have been lost through self-custody compared with roughly 1.51 million BTC lost on exchanges.
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