Is binance safe to keep bitcoins and other crypto for long term?

Naz

Verified member
There are many people who trade on different exchanges. Binance is one from those popular exchanges. According to my experience, binance is safe to invest or trade Bitcoin or other crypto .
But there are some people who are spreading false news about the binance to make their country people afraid.
Nothing is perfect in the world but I can say that binance has a good reputation in the field of crypto exchanges so I don't think it will cheat people.
So we shouldn't trust on such types of false news or propagandas .
There are thousands of people who have many bitcoins and they trade safely on binance.

Well it's my opinion, let me know what do you think about keeping bitcoins on binance for long time?
 
Solution
All centralized exchanges have their own risk, so Binance comes under this. But use Binance only when you want to invest for interest or when you wish to exchange BTC/ALT. If you o ly want to HODL for long term, then best for you is to Hold in your cold wallet, say where you have the private keys.

Mika

VIP Contributor
Binance is a centralized exchange, there is a risk of using centralized exchanges to store decentralized money. However 13.5 million people can't be wrong right? Binance has 13.5 million users and you can be assured that your funds are safe with Binance. The Best method is to diversify your assets on various platforms.
 

Good-Guy

VIP Contributor
Binance is a kind of cryptoexchanger that has been a victim of many controversies. But overall, it is a good exchanger that offers great security. Recently, the have made the KYC mandatory and now you cannot trade or withdraw money until or unless you verify your account. They never had this rule before.
 

Yugocean

Moderator
Staff member
All centralized exchanges have their own risk, so Binance comes under this. But use Binance only when you want to invest for interest or when you wish to exchange BTC/ALT. If you o ly want to HODL for long term, then best for you is to Hold in your cold wallet, say where you have the private keys.
 
Solution

Good-Guy

VIP Contributor
All centralized exchanges have their own risk, so Binance comes under this. But use Binance only when you want to invest for interest or when you wish to exchange BTC/ALT. If you o ly want to HODL for long term, then best for you is to Hold in your cold wallet, say where you have the private keys.

The fact of the matter remains that the majority of the crypto exchangers are centralized. I am not aware of any particular decentralized crypto exchanger that operates independently. As far as Binance exchanger is concerned, it has gained much better reputation and even surpassed Coinbase in a few aspects of crypto trading.
 
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