Post
Topic
Board Service Discussion (Altcoins)
Re: Is Binance safe to store cryptos?
by
Hueristic
on 08/03/2018, 14:30:34 UTC
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!

2fa can actually lower your security level.

https://www.google.com/search?ei=aEihWue3M4Px_Aa2mqeoDQ&q=google+authenticator+app+crypto+currency+wallet+vulnerabilities&oq=Google+Authenticator+App+crypto+currency+wallet+vul&gs_l=psy-ab.1.1.33i21k1j33i160k1.4021.18971.0.23977.27.27.0.0.0.0.209.3116.5j19j1.25.0....0...1c.1.64.psy-ab..2.23.2789...0j0i22i30k1j33i22i29i30k1.0.mE4XQOcIWzQ

Never leave on any exchange what you cannot afford to lose but AFA Binance in general I would say it is as safe as most of the reputable exchanges.