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?
If you are a trader you have no option but store the coins on the exchange but if you are using the exchange as your basic wallet keep them in a wallet you have full control of!
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!
two-factor Authentication does make it difficult for your funds to be stolen from your end but if the exchange is compromised you lose out even with 2fa set, you just have to take the risk.