Binance CEO Says Knowledge is Equivalent to Security in Crypto

Richard Teng, the chief executive officer (CEO) of Binance, the top crypto exchange, has recently emphasized the importance of knowledge in ensuring security in the crypto sector. Richard Teng stated that knowledge is as significant as security in the crypto world. He made this statement in a recent post shared on his official X account.

Richard Teng Stresses Importance of Knowledge in Ensuring Security in Digital Asset World

While focusing on the key role played by a crypto investor’s awareness, Binance CEO mentioned that one should have the necessary knowledge to stay secure. He asserted that the knowledge is as crucial as the security measures. Hence, the knowledge counts among the strongest safety tools within the digital asset sphere.

The executive pointed out that, in crypto trading, the traders require doing thorough research on the activities they perform. In addition to this, when interacting with any external source, they need to have a comprehensive knowledge of it. At the moment, the malicious actors mainly take advantage of the crypto users’ lack of knowledge. As a result of this, several unsuspecting investors lose their hard-earned money to phishing attacks and other such exploits.

CEO Advises Users to Do Their Own Research to Stay Safe

According to Binance CEO, while keeping in view the importance of relevant knowledge, the crypto users should always verify and never assume. Additionally, Do Your Own Research (DYOR) is a key principle to avoid being a victim of misleading projects, phishing attacks, and other such scams. Thus, parallel to the security measures that an institution provides, staying informed is a key factor in staying safe.