Post
Topic
Board Service Discussion (Altcoins)
Re: Is it safe to save USDT and BUSD on binance for long term?
by
carlfebz2
on 20/09/2022, 21:37:15 UTC
Binance is not a wallet, it is an exchange.

If you use 2FA and other security, and you are able to secure your wallet, your friend would not be able to access your Binance account. But exchanges should be for trading, not holding.

Exchanges are often hacked, even Binance has been hacked before. Do not leave your coins on exchanges.

Use a wallet instead of an exchange. Use a wallet, have your keys, which means you have full control over your coins on blockchain.
Yes, lets put up some link into that particular disaster on which BInance had been hacked wayback.
Hackers steal over $40 million worth of bitcoin from one of the world’s largest cryptocurrency exchanges
Link: https://www.cnbc.com/2019/05/08/binance-bitcoin-hack-over-40-million-of-cryptocurrency-stolen.html

People should always consider and should know at least even with the basics.Its is indeed that Binance is an exchange and not a wallet
for you to hold up your coins for long term.Nothing beats out if you do hold those coins on a non-custodial wallet
which you do possess its private keys which would really be easing out that worrying.