It is common knowledge that, assets should not be left on exchanges, not just because the exchanges might fold up with your money, it is possible for their website to be compromised thereby exposing your funds to risk.
Let's make Mt.Gox as example for that they are supposed to be a big exchange before where many people store their money but turns to become compromised by inside job or whatever fraud reason and this should be our strong basis that we shouldn't let our balances store on any of those since exchanger sites like binance is prone of hacks since they are vulnerable on attacks or inside attacks since big amount of dollars are in their and greedy people might attract to hit those one.
We should trade what we can afford to lose and always secure what we gain so that we will not feel drought .
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!
My Binance is safe as of now. Kindly make sure you are secured for your self don't login you accounts on public area where hacking is prone. Just make sure your only using/opening your account in your home it is safe. Please avoid also those phishing website so they can't get any details of yours. Be alerlt always.
As of now but in future? we dont know, so we shouldn't put our 100 trust since exchangers are not to be treated as personal wallet and exchanger site like binance is prone to anything eventhough they set their security so high.
Hackers will always find ways to crack some hole.
