Post
Topic
Board Bitcoin Discussion
Re: Binance Issues Important Warning as It Plans to Perform Wallet Maintenance
by
yudi09
on 18/12/2023, 12:01:13 UTC
Having worry about exchanges is necessary for those who still use exchanges as a place to store money beyond the amount needed for trading because funds stored on exchanges will not provide complete security.
Binance exchange is recognized by the majority of traders as a good exchange because of the features there, which does not mean that we completely give them confidence in our funds there.

The best wallet for storing assets not on an exchange. For those who are worried about maintaining Binance exchange, then it seems to me that you have thought right even though they say there is no need to worry.
-snip-
but the initiative of warning for their users is of course greatly appreciated. unlike, most small trading platforms where they will conduct their maintenance without prior announcement.

this is why people are confident with binance because they are more than fair on things. it is up to you how you will manage your funds. it is now your choice if you want to leave your funds on them while waiting to finish their maintenance activity.
We appreciate their efforts in providing security for a number of user funds stored in the Binance exchange wallet by providing collateral through SAFU funds. For me, it's the same as not fully guaranteeing the amount of money stored there because I want a system that only we control our funds through the keys we hold.
I think most other exchanges would do the same thing by notifying users of every important information like a local exchange I use to remind users that they have something to do and maintenance needs to be done.