Trust a trust is an important part of any exchange, traders need to be sure that the money they are investing will not disappear and there transactions will happen without favoritism. Unfortunately, these have given rise to countless scams in the cryptocurrency community. Traders trust no exchange too much and certainly not a well first rank one like Binance!

There’s a reason for that. Exit scams are common, where an exchange mysteriously goes offline and takes all its users’ money with it. So-called “exit scams” have made headlines over the past few years, as several exchanges — including Mt. Gox and QuadrigaCX — suddenly fell and left users empty handed.