CZ Releases Crypto Asset Custody Guide, Recommends Choosing Custody Methods Based on Asset Scale and Technical Capabilities

BlockBeats news, October 11: Binance founder CZ released a streamlined guide to crypto asset custody, advising users to match security measures to their own holdings and technical proficiency, and to focus on three major issues: preventing asset theft, avoiding accidental loss, and planning ahead for asset inheritance.

Regarding self-custody, CZ advised users to store private keys on offline devices, use reliable hardware wallets, verify transaction addresses, and set up multiple offsite backups, while reminding users to avoid saving keys through photos or screenshots to prevent them from being synced to the cloud and leaked. On asset inheritance, users should prepare a secure recovery plan in advance and avoid directly sharing keys or storing recovery information in unencrypted form. For centralized trading platforms, CZ advised users to assess platform reputation, security capabilities, and business models, and to strengthen account protection through measures such as a separate email, strong passwords, two-factor authentication, hardware security keys, and withdrawal address whitelists, while staying alert to phishing attacks and API credential leaks.

CZ further advised that users should reasonably allocate assets between centralized trading platforms and personal wallets based on their own technical proficiency, security management level, and fund usage needs. Self-custody means users must independently bear responsibility for private key protection and asset recovery, while platform custody involves platform credit and counterparty risk. In addition, keeping an independent wallet helps maintain asset access during platform maintenance or service interruptions.