Is Binance safe to store cryptos?

[HotHot143]

Exchanges are not safe to store your tokens cause what if that exchange shutdown without any announcements or notice that was made, better to save it in a secure wallet even if you hold it for a long time.

Thank you so much for sharing your ideas to us. From now on all my long term hold coins I'll move to my hardware wallet. Have a good day.

[arcfaith]

You should only store your coins in exchange if you are a day trader. But only temporarily. Your core profits in terms of ETH & BTC should be moved to a physical wallet. Trust me, there are no other exchanges as trustworthy as keeping it yourself physically.
Of course, with 2FA activated in Binance it is very safe but as long as your token amount exceed 4 digits (in terms of USD value), do invest in a physical wallet. You will not regret.

[Lukan]

It is one of the safest. And how safe that would be, well tricky question.
Don't store all of your portfolio on one exchange. Hard wallets will help too.

[CAPT.DEADPOOL]

the binance is also the best exchanger and the site is very strikly and it's a good idea to fund the binance because their website is secure but also to avoid the loss of funds in binance you will earn 2pa for just entering the account you

[hung7520]

If you want the security of your property, put it in a cold wallet, such as a nano ledger. But to use, you have to buy it

[maduranga]

any exchange is not good for keep your coins or tokens longterm use a wallet that can control your private key and its more safer if it's a hardware wallet like a nano s or a trezor

[Mobshady24]

For long term purposes you should always put in your mind that keeping your cryptocurrencies in an exchange is not safe due to risk of hacks and it is known widely since it happened before many times. Better be safe than sorry, losing a lot of investment is heartbreaking.

[Boi qaaf]

If you do not hold much coins and only do a short term trading then it is fine to use the exchange because its one of the big exchanges. Though you should always be withdrawing some btc when you make profits and keep storing in offline wallet or to a better wallet in order to have the better control of your own coins.

[khendjer]

The main purpose of Binance and the other exchanges is to exchange coins, not to store especially if there is a need to store coins for long period of time. Once funds are transferred to the exchange, no matter what kind of, they're not yours until they're withdrawn back to a private wallet with full control of the private keys. It's better to spend a little on fees while transferring funds back and forth between a safe wallet and exchange rather than loose all the coins once something bad happens with an exchange.

[Damoch]

There hasn't been much of hacking into user account on Binance but it always better to take precautionary means ,you can transfer your coin to private wallet if you not a daily trader. Long term investment should be in your private wallet

[brusnika]

I keep on exchanges not more that 10% of capital. But don't think that the wallets are very safe, they dont give 100% guarantee of money safety. Keep your funds on several places, the more places - the higher diversification.

[gold1112]

No exchange is safe to store your cryptocurrencies! Just do your own wallet and send it there! 

[mai2mai]

Sometimes it seems to me that really noone can guarantee anything in cryptoworld. I store my coins on different walltes and a bit of them on the exchanges, but also - different exchanges, that means if some of them close, or are getting attacked I'll lose only a small part of my deposit.

[vladbakshoo]

no i don't think so u can't trust these exchanges there are many excuses they can shutdown your account and can also be hacked so i think best option is trade on them and transfer tokens to official wallet or trezor if supported

[Man21]

Hello!

I have about $600 worth of various Cryptos on Binance. I have two-factor Authentication enabled (meaning I have to get a code from the Google Authenticator App on my phone). Is it safe to just store the coins on the exchange? That way it will be easier when I go to sell them and I don't have to keep paying fees for transferring them in and out. I realize that it's not normally advised, but with two-factor authentication enabled, does that change anything?

Thanks!

Yes it is safe to store the altcoin in top exchanger like binance.
I suggest you to store the altcoin and also bitcoin in exchange just in small amount which you use to trade only. Store the the other in the personal wallet that you own the key.

[Angi]

Dont use binance to store all your crypto I suggest you to store your all crypto to the trusted wallet sites or download a app that you can private it and have good security not for exchange wallet many says thats not a good idea to store your altcoins to exchange wallet because its probably get and lost your coins if there site will crash.

[Yawn85]

No exchange wallet is safe due to two reasons:

 - hack issue for hot wallets
 - exchange takes the money and claimed get hacked

 

[lenovo16]

Hello!

I have about $600 worth of various Cryptos on Binance. I have two-factor Authentication enabled (meaning I have to get a code from the Google Authenticator App on my phone). Is it safe to just store the coins on the exchange? That way it will be easier when I go to sell them and I don't have to keep paying fees for transferring them in and out. I realize that it's not normally advised, but with two-factor authentication enabled, does that change anything?

Thanks!

Well in my opinion. If you are afraid of being hacked then you should secure you personal details so that you are the only one who can access your account. And a piece of advise, dont store all your coin in binance since, it is still in online and many smart people really can find a way to hack their prospect account. Always have a back up in case of emergency.

[fredlox]

I think Binance it's safe, but the safest is to keep yourself yout cryptos

[hovrah]

Dont use binance to store all your crypto I suggest you to store your all crypto to the trusted wallet sites or download a app that you can private it and have good security not for exchange wallet many says thats not a good idea to store your altcoins to exchange wallet because its probably get and lost your coins if there site will crash.

you mean that the best way to save your years is to have an offline wallet? The thing is that you still need to decide on one or the other application, because not all of them deserve good trust. What can you advise for example?