Re: Is Binance safe to store cryptos?

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!

Binance is reputable exchanger and many user are in the exchanger till now the new user registration is closed.
With that so much thing, i can be so easy to tell you that binance is good place to store any altcoin.

It might be a good indication to rely on that we are on a good exchange site but doesnt really mean that they are trustable enough to store up our coins in there. Always think that every exchange do have the risk on closing or getting hacked no matter how good they are you should not really too much confident on using them acting as a main wallet for your coins. Always store them on wallets which you do have the keys it is much more safer if you do have this habit.

My point exactly, Having your own wallet is putting your money in a much safer place because your the only one who can access your account. unlike in the exchange, hackers know that theirs a lot of money in that site and they will try their very best to access or hack the website in order to get the money. But it's really up to you whether or not you want to use it as a storage, as of the moment their is no trust issue against binance, I also use this as a trader.