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Author Topic: Take your bitcoin out of binance  (Read 372 times)
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January 14, 2023, 07:30:02 PM
 #41

If the news is true then there is reason for traders to be upset, as a large number of people believe that Binance is behind an exchange crash, but given their volume is still over thirty billion I don't think so that this fud will hit Binance much cause the Cryptocurrencies marker is greenish now and for that Binance bnb is also grow up. And if there was any chance of good impact then I think BNB would have gone down earlier.
However, for those who want to make a large investment with a little more funds, it is recommended to avoid centralized exchangers.


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January 14, 2023, 09:24:07 PM
 #42

However, I consider Binance Exchange Wallet to be the most secure full wallet.
What do you mean by a full wallet, is it running a full node or client, then that should be BTC core wallet and has nothing to do with Binance or any centralized service. The most secure type of wallet is one that is open source and gives the user self custody of the funds and keys in the wallet. Binance Exchange wallet is a custodial wallet, so when your money is there, Binance can gamble with it as they like, and if they are unsuccessful in their gambling, the coins you thought was yours is gone, that's surely not secure.

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January 14, 2023, 09:30:59 PM
 #43

However, I consider Binance Exchange Wallet to be the most secure full wallet. But if this news is true then surely we should transfer our funds from exchange wallet. Because none of us want our accumulated wealth to be taken by someone else or our wealth to be lost from us.
What's a full wallet? If you consider binance wallet as the "most" secure wallet of them all, is that the definition of your "most" by having no private keys at all?
Yeah, as an enterprise, an exchange, they're secured with their wallets for their customers/users. But, you as a customer, you're unsure if your funds are secured on them in a manner that you don't even hold it. Yes, you see the numbers displaying on your account but, are we sure that they actually got it or it has already been invested somewhere just like the other exchanges did to their customers fund?

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