On Wednesday (14 December 2022), CZ, who is Co-Founder and CEO of the world’s largest crypto exchange (by trading volume) shared his thoughts on people holding their own crypto.

According to a report by Alys Key for Decrypt, during an AMA session hosted on Twitter, CZ said:

“For most people, for 99% of people today, asking them to hold crypto on their own, they will end up losing it… Most people are not able to back up their security keys; they will lose the device,” he said. “They will not have the proper encryption for their backup; they will write it on a piece of paper, someone else will see it, and they will steal those funds. And also today, very fundamentally, if a person passes away, they don’t have a way to give to their next of kin. Whereas we have a standard operating procedure [for that]…