Can Binance fall the same way as FTX?

[sscaz]

Binance getting law suits every few months scares me everytime. I got over 40k in crypto on there... I am wondering if i should just move to cold wallet?

 

[QWE333]

Yes. You must transfer your money from there.

 

[nospix]

The cold wallet is the safest place

 

[awesomewebsites]

Binance getting law suits every few months scares me everytime. I got over 40k in crypto on there... I am wondering if i should just move to cold wallet?

Yes.
But if binance fails, crypto will get a big blow which can take years to recover.

 

[Naruto Uzumaki47]

I dont thnk so. Binance is the biggest crypto exchanger

 

[sscaz]

Yes. You must transfer your money from there.

The cold wallet is the safest place

Yes.
But if binance fails, crypto will get a big blow which can take years to recover.

I use only USDT so as long as i move it to cold wallet I won't really have to worry if they fall, what is a good cheap cold wallet?

@Naruto Uzumaki47 I dont thnk so. Binance is the biggest crypto exchanger

Me neither. I am just paranoid asf all the time.

 

[ExobiT]

Do Binance fall, then you can wave goodbye to everything crypto for the next many years. Bitcoin will fall to pennies and all trust will have been lost.

 

[Iuzzu]

It's always possible...it's also possible that Facebook will shut down tomorrow, it has tons of lawsuits too
But it's highly unlikely

 

[growyourbrand]

It's always possible...it's also possible that Facebook will shut down tomorrow, it has tons of lawsuits too
But it's highly unlikely

Binance is most popular

Big Whales Loves Crypto, So Crypto Will always Rock and also Binance

 

[GhostVision]

anything is possible how many expected what happened to FTX to happen?

 

[Hawkeye Digital]

Binance is an repu exchange , if it falls then we can see crypto industry taking huge turns .

 

[IM Dude]

No because it's a Chinese or Singapore run operation i dont remember unlike ftx which was wall street run operation. Wall Street obviously wants crypto gone so that it will be business as usual. But you never know.
Where did you read binance is going down?
Also exchange you money to gold or Dimond or something.
(No a finance advice, do whatever the fck you want)

 

[DavidG1510]

Never never ever put your crypto on an Exchange.
NOT YOUR WALLET NOT YOUR CRYPTO.

Hot Wallet like Exodus
Cold Wallet like Trezor/Ledger.

 

[moonshine7000]

Not your keys not your crypto.What is the sense of having crypto and allow third parties to hold it.Mt Gox over and over again.

 

[Ashk881]

Binance getting law suits every few months scares me everytime. I got over 40k in crypto on there... I am wondering if i should just move to cold wallet?

You're always better off when you own your private keys on your hardware wallet. The Ledger Nano is quite popular, there are several other hardware wallets out there. Most cost between $50-100.

Binance can fail, but it won't fail like FTX. If it fails, that would be because of the regulatory processes that the US is trying to bring the cryptocurrency assets industry. It most likely won't be because of accounting failures like that of FTX.

I dont thnk so. Binance is the biggest crypto exchanger

That's not how it works. Enron was the biggest energy company back in the day. And it fell like a House of Cards.

 

[TechEinstien]

Binance is trusted but nobody can predict future.

 

[Katia76]

At the moment, it is safe to say that Binance will not collapse after FTX.

 

[EcommerceSales]

Move to cold wallet and don't look back, other wise you trust stranger with your crypto.

 

[Akeyeleg]

Binance is very trustworthy. There's no exchange as influential as Binance in the cryptocurrency market today.

 

[Sol]

Buy a Ledger please. Exchanges are exactly that … Exchanges

You exchange your fiat for crypto and that’s it, you don’t hold your funds with currency exchange shops on the corner so why hold them with crypto exchanges?