Is Binance safe to store cryptos?

[SriNr]

I think yaa..
While Binance is one of the newest cryptocurrency exchanges available on the market, it has quickly managed to attain a high level of trust from its users and the digital currency community. However, the exchange fails to provide users with enough information on how the funds are being secured, yet we like to believe that security is taken seriously. Two-factor authentication is available and is always a nice sight. It is however known that the platform offers a multi-tier and multi-tier system architecture.

[smith136]

Storing big amounts in exchange is not advisable to be honest since most of hacks happens there, if you really want to make sure your investments are safe I suggest you should download a wallet since you want to hold it for a long time

[fredlox]

For sure, it's still safer to hold coins in your personnal wallet

[rost1989]

Today saw a very interesting post about binance. it's number one exchange with 5 million users. Can you imagine this?
it is actually safe, but can you imagine how many hackers will try to hack it due to the fact that it's number one?

[Serenity01]

On a related note, if you are mining coins, is it safe to deposit them on exchanges like Binance for temporary storage?

Do the deposit addresses they give you stay with your account permanently?

[chamara741]

Use a hardware wallet or Desktop wallet to store your coins. Don't use web wallets. It is't safe to store coins on the exchanges like Binance since they might be get hacked easily! 

[t1Zona]

Use a hardware wallet or Desktop wallet to store your coins. Don't use web wallets. It is't safe to store coins on the exchanges like Binance since they might be get hacked easily! 

It might be hacked but I doubt it were easily.
For hodlning, yeah, store in HW wallets, but for trading, and not huge amounts, so far I trust Binance to keep my coins.

[Temik2704]

Binance is a big, fast and secure exchange. One of the best by my opinion. But firstly remember about MtGox...
The best way to store crypto is to use different cold storage: Ledger or Trezor for example

[HotHot143]

Yes, I am sure that Binance is one of the most reliable exchanges. I keep my coins there and I am sure that they will not be lost.

Make sure your 2FA is enable for more security on your account.

[herma]

Binance is a big, fast and secure exchange. One of the best by my opinion. But firstly remember about MtGox...
The best way to store crypto is to use different cold storage: Ledger or Trezor for example

Binance is a large new trading floor developed today, large trading volume, beautiful graphics, high security. Administrators are Chinese who are very good at security, so hacking attacks can not interfere with your account. Make sure your 2FA is safe.

[Shishir99]

No exchange is safe.
Better keep your coin in Core wallet or something like that.
Anything can happen and now Binance recently became no 1 in ranking.
It could be a target.

[stomachgrowls]

Binance is a big, fast and secure exchange. One of the best by my opinion. But firstly remember about MtGox...
The best way to store crypto is to use different cold storage: Ledger or Trezor for example

Binance is a large new trading floor developed today, large trading volume, beautiful graphics, high security. Administrators are Chinese who are very good at security, so hacking attacks can not interfere with your account. Make sure your 2FA is safe.

I cant argue on the thing you do said on here regarding on the exchange which is actually true.I do love this new exchange I do see that they are really focusing on the main or important aspect of an exchange really should have but doesn't mean that they are prone to exploitations or not hackable.It might be hard but possibilities is always there.

No exchange is safe.
Better keep your coin in Core wallet or something like that.
Anything can happen and now Binance recently became no 1 in ranking.
It could be a target.

Its much better and always been suggested to keep your coins in your own wallet not on exchange one. This is what I'm doing ever since because I don't let those coins of mine to be idle on any exchange that I do make use.

[TheHas]

I trust this exchange. To ensure that you have no doubts about reliability, install two-factor authentication. This will greatly enhance the safety of your money and increase the withdrawal limit. But you must always follow the main rule of investor - don't put all your eggs in one basket.

I feel like two factor authentication may help with individual security - ie avoids issues if someone finds out your password.

However, 2FA will make little difference if Binance exchange as a whole gets hacked. For example, with what happened to Nicehash. Won't matter if you have a super long password with random symbols and 2FA if the actual security systems at the exchange itself is compromised!

[legendbtc]

Yes, I am sure that Binance is one of the most reliable exchanges. I keep my coins there and I am sure that they will not be lost.

We cannot predict exactly and binance is a new exchange giving registration only for limited members. I don't what are the security measures they are talking, as of now binance is good exchange always move your coins to the concerned wallets for safety.

[Forbiddenone]

Binance is better than majority of exchange i would say,soon it will replace bittrex.it UI and app is great.every major exchange use cold wallet to secure their fund but you should always increase security while you are holding fund in exchange.but it is not advisable to store your fund in exchange ,always prefer client wallet and keep private key safe.

[jiangsuren]

Binance is the most safe and big exchange in this time and i trade there with no any problem

so your coin is very safe, don't worry about that .

[asexypotato]

Binance is the best option you have if you want to store your cryptos in the cloud, however if you are looking for security get a hardware wallet right away

[margauxlolo]

Exchanges should be used for trading.
Like everyone says, you're better off with a hardware wallet and if possible a paper wallet.

[rkrams]

Apart from the share of coins that you would trade , its always best to move major amount to paper wallets, provided you are good at keeping track of the wallet details properly backed up, especially if you have a diverse portfolio.

Multi asset wallets like exodus are also something to look into.

[rolando1994]

I think binance is a safe market for selling, buying or storing your coins. what else has been equipped with two-factor authentication security feature.
so you do not have to worry to keep all your coins there.