Binance Survey Reveals Stronger Crypto Security Habits Across Asia

A new large-scale survey conducted by Binance highlights a significant shift in crypto security behaviour across Asia, as users adopt stronger safety measures and show increasing trust in platform-led protections. The Asia Crypto Security Survey gathered nearly 30,000 responses from users across Southeast Asia, South Asia, and East Asia, offering a rare, detailed snapshot of evolving habits, risk awareness, and expectations from the crypto community.

Strengthened Awareness: From Basic to Intermediate Security Measures

The survey found that 80.5% of users have enabled two-factor authentication (2FA) — a positive sign that users are securing their accounts with foundational defences. Additionally, 73.3% said they double-check wallet addresses before making transfers, highlighting growing vigilance in routine transactions.

However, the findings also reveal a gap in the adoption of more advanced protections:

Only 17.6% use address whitelisting, a powerful tool to restrict withdrawals to known wallets.

Only 21.5% employ anti-phishing codes, protecting users from fake login pages.

Alarmingly, 34.4% store private keys on internet-connected devices, with this number rising to 42% in Southeast Asia — a significant vulnerability that calls for better education.

Trust in Exchanges is Rising — But So Are Expectations

Despite nearly 41% of respondents having experienced scams, over 84% trust exchange-based protections like Binance’s SAFU (Secure Asset Fund for Users). In cases of scams, 53.4% said they would immediately contact the exchange to freeze assets, demonstrating readiness and growing faith in centralised platforms’ response systems.

Still, users are becoming more proactive and demanding higher standards. 62.5% cited real-time threat detection as their top security priority, while 50.4% want device-level threat alerts, indicating an expectation for exchanges to evolve into intelligence-driven, proactive protectors, not just trading platforms.

Binance Dominates 2024: Inflows 40% Higher Than Next 10 Crypto Exchanges Combined

Private Key Protection and Smart Wallets Are High Priorities

In the decentralised wallet space, security is just as critical. 62.8% of users rated enhanced private key protection as their most valued feature, followed by better backup and recovery options (50.4%). Binance Wallet meets these needs through MPC (Multi-Party Computation) technology, which eliminates seed phrases and securely splits keys into encrypted parts, helping users stay in control without complexity.

The Education Gap: Clear, Localised Learning Needed

While awareness is growing, 55.8% said security content is still too technical. Users want simplified, localised case studies (39.7%), and platforms like Binance are stepping up to meet these needs with educational content, practical guides, and even gamified anti-scam simulations — a format supported by 61.3% of users.

A Safer Crypto Ecosystem Through Proactive Investment

According to Chainalysis, crypto crime fell sharply in 2024, with illicit activity accounting for just 0.14% of all transactions, down from 0.61% in 2023. Binance played a significant role by:

Preventing $4.2 billion in user losses

Recovering $88 million in assets

Protecting 2.8 million users from scams

“Security is not optional in crypto. It’s essential,” said Jimmy Su, Binance’s Chief Security Officer.

As the crypto space continues to grow, Binance’s data underscores an encouraging trend: users are maturing, and platforms are rising to the challenge, together building a safer, more resilient financial future.