Are funds on binance insured

1 Answer(s)

    After suffering a theft in the tens of millions, Binance began offering an insurance fund for its users. Binance will from now on send 10% of the money it raises from transaction fees into an insurance fund for its users.

    Since as much as a billion dollars are traded each day on the Binance exchange, they should be able to afford to cover similar incidents in the future. Many other cryptocurrency exchanges are also offering insurance today. In the recent past, there was little or nothing in the way of coverage for users of cryptocurrency exchanges

    Answered on August 20, 2019.
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