CEO Binance Changpeng Zhao (CZ) recently shared profound advice for the crypto community, highlighting a security risk that many often overlook. He warns against receiving cryptocurrency through direct inheritance of hardware wallets or private keys from others. This is an unsafe practice because the original owner can still access the assets if they retain the hardware wallet or private key. Sharing a private key between both parties creates a serious security vulnerability, even if the provider of that key is a trusted person. When cryptocurrency is moved or lost, it will be very difficult to determine exactly who is responsible – whether it’s a hacker or the original owner.

Changpeng Zhao

CZ recommends that users immediately transfer cryptocurrency to an address over which they have full control. To ensure maximum safety, ask the sender to transfer cryptocurrency directly into their wallet. By taking this simple step, users not only ensure absolute control over their assets but also eliminate unnecessary potential risks.

One of the core principles of cryptocurrency security that CZ emphasizes in this advice is the control of one's own private key.

The saying 'Not your keys, not your coins' has become a popular mantra in the crypto industry, and this is entirely justified. Access to assets on the blockchain is protected through the ownership of private keys. Therefore, security will be threatened if users share that key or allow others to hold it.

CZ's warning serves as an important reminder for both beginners and those experienced in the crypto field. Ensuring safety in transactions is extremely important as this industry continues to grow and attract more participants.

Whether managing assets, receiving gifts, or making transfers, maintaining exclusive control over the private key is the best way to protect users' assets.

The main message in CZ's advice is clear and effective: Take responsibility for your own cryptocurrency security. In the decentralized world of cryptocurrency, this helps mitigate the risk of disputes, cyber attacks, and financial loss, while also safeguarding the financial independence of users.



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