Is Binance safe to store cryptos? - page 10.

Bitmedrano040117

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Quote from: bigboy61 on December 27, 2017, 05:15:57 PM

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!

If you think the coin is really potentials, well I think it is better not store you altcoin in the exchange, its fine if the coins is not potential. Then it is much better to download coinomi or myetherwallet to keep you altcoins.

InvestICO2L

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Quote from: bigboy61 on December 27, 2017, 05:15:57 PM

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!

I am also trading at Binance. My Binance account that store more 10 other altcoins, value equivalent 1 BTC and i quite trust Binance, i think they are the best exchange site now. Although Binance is safe but if you are long term investor then i advise you should store all your coin in hardware wallet, this will safer than you store it in exchange sites.

aci69

newbie

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For my long term portfolio usually I store coins and tokens
in the official wallets, making periodically backups.

Instead, if you would like to make trading with that coins,
so Binance is going to be good.

What the others think about this strategy?

DanWalker

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Binance is one of the most reliable exchanges. But you do not have to use exchanges to store your coins there. This is a big risk. If you bought coins for long-term storage the best way is to take them from the exchange to the wallet.

geminiboy

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Quote from: ethereumhunter on January 20, 2018, 10:17:41 PM

Quote from: sukron on January 20, 2018, 08:23:07 PM

storage coin in binance is very secure because many requests verification code if we want to enter into binore account so chances are there are hackers enter only a few

although binance is safe but we don't have to take a risk to safe in that site, it is better to save in other wallet that only we that will know. but if you decide to save in binance, make sure that you verify your account so you don't face any problem. I think every exchanges is safe but we need to secure our account and prevent from the attacker.

it is very true and often happens in online wallet also get pising,the safest in storage with gogle autheticator, it is so
allowing our account to be safe from attackers

pusaka

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BInance is an exchange. it is better to store your coin in the online wallet
you can control the private key, if you store your coin at exchange you do not have the private key.

ethereumhunter

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Quote from: sukron on January 20, 2018, 08:23:07 PM

storage coin in binance is very secure because many requests verification code if we want to enter into binore account so chances are there are hackers enter only a few

although binance is safe but we don't have to take a risk to safe in that site, it is better to save in other wallet that only we that will know. but if you decide to save in binance, make sure that you verify your account so you don't face any problem. I think every exchanges is safe but we need to secure our account and prevent from the attacker.

orka39

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Quote from: holdem on December 27, 2017, 09:13:33 PM

As of exchanges binance looks one of safer picks, but its always best to use hardware wallet if ure not a trader

This is correct opinion, if you are not trader so i think to use the hardware wallet is wise choice to store your crypto and its the way safer compare with exchanger.
Store in exchanger just the capital that you use for trading only.

sukron

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storage coin in binance is very secure because many requests verification code if we want to enter into binore account so chances are there are hackers enter only a few

Awan Awan

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Quote from: wayne_812 on December 27, 2017, 08:39:28 PM

better download a wallet and put your coins in it. it is not safe to store cryptos on the exchange because it maybe hacked.

I am a bit confusing about what he ask in op.
Dose he want just store the value of his crypto in binance or store and also trade it.
Because if you suggest to download wallet that he can not trade it because he will just store it.

gabbydizon

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If you're not actively trading your crypto, it's better to store it in a software (good) or hardware (best) wallet.

Casey7

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Quote from: bigboy61 on December 27, 2017, 05:15:57 PM

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!

For only $600 worth in crypto i think its safe to store in any exchanger specially binance which is reputable exchanger.
If you have more capital then you might think to have hard wallett to store it because its much better.

Florindvt

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I dont know why I feel like this but I definetely trust binance.

V. J. Meyer

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Binance is a commercial site that has received a lot of support from big investors and security and safety is one of the reasons why Binance is getting so much support. Binance offers investors a number of advanced security features that help you keep your account secure with multiple layers of security. I am also keeping a lot of my coin on Binance and I am completely reassured about it.

wel24

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Its safe for me just put 2fa for you to notify that theirs a hacker and who want to steal your assets.But to be sure and more secure storage you can store your cryptos in hardwallet.

Fatunad

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Quote from: Zicadis on January 20, 2018, 01:30:21 PM

If your intention is nothing related with trading I advice against storing your coins on an exchange as anything could happen maybe change of regulations or more KYC which could freeze your funds

Thats one of the risk on where theres already a sudden change of rules specially on KYC then it would really be a hassle thing specially if you do store up large sums of amount on that exchange.If you are not actively trading then better pull out those coins and better to store it on wallets which you do have the full control.

Quote from: nata2904 on January 20, 2018, 03:37:59 PM

In my opinion, if your two-factor is enabled, your account will be secure. No possibility of hacking.

I agree into this point when it comes to your exchange account 2fa is always advisable which would really less the risk of getting hacked by someone but if hacking incident would be generally on the site then it would really be an another story.

nata2904

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In my opinion, if your two-factor is enabled, your account will be secure. No possibility of hacking.

Zicadis

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Dump it!!!

If your intention is nothing related with trading I advise against storing your coins on an exchange as anything could happen maybe change of regulations or more KYC requirements which many of us are not ready for and could end in the freezing of our funds

Quote from: Yawn85 on January 18, 2018, 08:06:20 PM

No exchange wallet is safe due to two reasons:

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

This is what scares me the most about keeping funds in such places

seymenyunus16

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In this cryptoworld i can't trust any exchange site. But binance is one of good in them. Also my %10 is on binance %10 is on kucoin.
The other %80 of my btc is in my private wallet. The best way is that i think.

hovrah

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Quote from: Angi on January 18, 2018, 07:57:49 PM

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?

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