Are coins on binance safe

1 Answer(s)

    If one wants to store cryptocurrency tokens rather than trade them, a hardware wallet is the safest option. The second safest option after that is a software wallet.

    While storing coins on exchanges is not very dangerous (the Binance exchange now has an insurance fund to protect users from theft) wallets are a better option.

    There is the possibility, even if seemingly unlikely that the Binance business could fall apart and many people could lose their funds. So, while it is not exactly dangerous to store funds on exchanges, wallets are a safer option.

    Answered on August 20, 2019.
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