Former Binance CEO Changpeng Zhao (CZ) shared practical recommendations for storing crypto assets, emphasizing that absolute security cannot be guaranteed.

Core principles

CZ advised minimizing attack surface by separating crypto operations from general device use and installing only essential applications on the device.

He also recommended maintaining independent backups of private keys so that device failure or loss does not eliminate access to funds.

Account hygiene and authentication

• Use a separate email and a unique password for each exchange account to reduce cross-account compromise risk.
• Enable hardware two-factor authentication where possible and avoid relying on SMS for account protection or recovery.
• Configure a withdrawal address whitelist to limit outgoing transfers to trusted destinations only.

API keys and hardware wallets

Do not share API keys with third-party platforms and consider disabling withdrawals via API to prevent automated exfiltration of funds.

Recognize that a hardware wallet is not invulnerable; firmware errors, device substitution and phishing remain practical risks.

Succession planning

CZ urged planning the transfer of crypto assets to heirs in advance, while avoiding premature disclosure of private keys or sensitive access information.

Overall, CZ framed security as risk management: apply layered protections and plan for loss scenarios rather than expecting total immunity from threats.