Post
Topic
Board Beginners & Help
Re: Withdraw from exchange straight away or at a threshold
by
bitadelco
on 09/01/2021, 19:59:23 UTC
Binance is a large and reputable exchange so as others have mentioned, you can likely wait and aggregate up to the amount you're comfortable with having on an exchange before initiating transfer so you don't needlessly incur too many fees. I can't recall if Binance requires 2FA (2 factor authorization) but if it doesn't then make sure you have that in place and it's with a reputable authenticator app (not a text message with a code).

Another thing to think about besides the potential for a hack is access in general. Sometimes these exchanges get overloaded when the price of bitcoin moves a lot in either direction.

Kudos to you though for ultimately taking self custody of your own bitcoin!