Post
Topic
Board Beginners & Help
Re: Placing coins in storage or setting stop losses?
by
Negotiation
on 21/02/2020, 07:31:17 UTC
I mean, if you do a good job of securing your accounts (2FA, etc) should you really be that worried that an exchange could get hacked? I use Binance, by the way.
You use Binance and I know you have the feeling that it's one of the best exchanges, which is correct by the way,  but news flash is that even Binance is not unsusceptible to cryptocurrency hacks on exchanges. And another tiny piece of information is that when your funds are on an exchange, securing your accounts isn't the issue, as you're not in total control of your funds, so once the exchange has been breached by hackers, there is a high chance you will lose your funds to them.

Has this every happened to Binance?

I don't think this has happened with Binance News like this has not been heard so far  Binance is a very popular and reliable site I have invested here and loses a few dollars stops If my capital goes down it will sell itself. There is no fear of being scammed and hacked.