Post
Topic
Board Exchanges
Re: binance down>??
by
timerland
on 09/02/2018, 09:30:14 UTC
Quote

5m5 minutes ago

All of our engines are back online and we are processing data validation for pre-trading at the moment.

We hope to have an updated, accurate ETA to provide shortly. Thank you again for your patience; we are in the final stages of preparing the exchange for normal operations.

Getting close to the 30th hour of the one hour maintenance. Fingers crossed this time.

Fingers crossed as well.

But this, folks, is a great example of why you should never store your funds on an exchange and use it as a wallet. Storing some of your funds on an exchange for the short term is fine, provided that you are willing to take the risks. But storing the majority of your portfolio there is just dumb.

Not only do you have a risk of getting your funds stolen/hacked, in an event of a maintenance just like Binance's current maintenance that has been going on for ages, you are prone to market fluctuation.

It is much more flexible, and safe, to store your funds in a wallet instead of exchange.