Quote from: cryptoaddictchie on March 14, 2024, 06:25:46 PM

Quote from: BayekSmith on March 13, 2024, 02:06:48 AM

How safe is BSC (bep20) chain? Is it okay to store a large amount of BTC and USDT on that chain? If Binance shutdown will the chain still operate normally?

Still works like a normal L1 for me. Some prefer to store usdt on bsc too due to low gas fee when doing transactions. Its quite absurd to store big stables on network like eth when you will be killed on gas fee. Im pretty sure bsc network is safe like others or yet spread your coins to a lot of L1 and l2 to be more relax and avoid panicking. Not advisable to store on eth cause if youll put example like $100 usd worth imagine the gas fee will be incurred in that.

Even more advisable to not store your holdings on exchanges, its not safe anything could happen and you should understand that usdt is peeged stable coin and re ent issues with usdt saying its not the best stable coin as there could freeze your it in your wallet.

Practice self custody and keep your holdings by yourself not in the hands of any trusted company.