I am using the simple earn in binance my question is .Is it safe to keep all my crypto assets in binance? it's not like I got a lot just my pocket money under 100$ but should I keep in binance or keep it on a wallet?
Binance safe or not?
byu/Adept-Explanation386 inCryptoMarkets
Posted by Adept-Explanation386
6 Comments
Binance is technically speaking the safest exchange along with coinbase, but then again ftx was supposed to be safe but everyone knew what happened in 2022, so nothing really is safe, except cold wallets
I’ve been storing crypto on much shittier exchanges for years.
Better shift in some offshore account
I used Binance for 5+ years, think isn’t a bad choice. Somewhere in between I felt I had so often to proof my identity with always new and somehow strange procedures, so that I got already afraid to lose my access because of that.
There was also a time where it was not possible to withdraw to any EU IbAN or so, so withdrawals became tricky. But last 2 years went smooth.
Two times I needed support and I got satisfying answers very quickly.
If you don’t think Binance is safe, then you wouldn’t survive being me
You $100 like micro cent to Binance. In saying so, a few years back one the their coin trading got hack and dump. Trading at 1000 drop to 60 and Binance froze the trading. My money was good as gone. Soon Binance came out after say they will use their Safe to cover traders at that period. Within 2-3 weeks got my initial investment.
It always good practice spread your token in hardwallet long hodl and hot wallet for trading. All comes down to your end goal.