Can Binance fall the same way as FTX?
- Thread starter sscaz
- Start date
- Jul 4, 2011
- 469
- 60
Never keep your money on exchanges. Exchange should be used only for buying and selling. Once that part is done move your money to your wallet. Best opton is cold storage (Ledger etc), if dont want to go to Ledger then you can use trust wallet also. BTW trust wallet is owned by Binance also. But they dont have custodial rights. They just maintain software for wallet.
Blackcurrant
Registered Member
- Aug 25, 2023
- 59
- 14
Don't be scared, you can move to cold wallet if you wish. But Binance cannot end up like FTX. I personally used to have some crypto in Binance too but I moved to Bitget. Not for the SEC reasons but for bigger portfolio reasons.
denizseckin
Banned - selling outside of the marketplace.
- Sep 25, 2019
- 158
- 46
I don't even trust myself. 
Therefore, no one can convince me that Binance is 100% reliable.
I don't think you should risk your job. A cold wallet is a good protective fortress for your assets. Personally, this is my opinion.
Therefore, no one can convince me that Binance is 100% reliable.
I don't think you should risk your job. A cold wallet is a good protective fortress for your assets. Personally, this is my opinion.
CodiBot
BANNED - Failed to resolve a dispute
- Aug 29, 2007
- 739
- 332
Guarda wallet?
allan.d
Regular Member
- Apr 16, 2021
- 334
- 276
Yes. Made some small exchanges 200-300$. Seems like its working well
- Jan 17, 2015
- 5,263
- 4,956
USDT will blow before Binance. If you are simply saving I would consider converting into BTC or ETH at least half of the money you have and move it into a cold wallet
sscaz
BANNED - Discussion of Prohibited Activities
- Jul 18, 2022
- 5,693
- 5,816
Why what's wrong with USDT? I talked w few crypto experts that i know and they've all said USDT is safe?
- Jan 17, 2015
- 5,263
- 4,956
Not safer than Binance. FTX was a massive MLM fraud, but there are no elements that point that Binance is near the same. USDT is based on some sort of weird trust with some fishy contracts behind that are supporting the coin. If I were you I would not hold more money that you can afford to lose in any stable coin. I only have 2-3K at any time. The rest back to Euro or ETH.
Not much, since people have get used to exchanges go out of business
sscaz
BANNED - Discussion of Prohibited Activities
- Jul 18, 2022
- 5,693
- 5,816
Euro on binance?
- Jan 17, 2015
- 5,263
- 4,956
Yes, I can trade from any crypto to EUR and the other way around. I assume this is true for all EU countries, can't you?
HARRY CROSBY
Newbie
- Aug 25, 2023
- 3
- 3
Yes. You should transfer your money
Dgriffindors
Regular Member
- Aug 27, 2023
- 451
- 147
Binance too big to fall. But anything is possible though.
If almighty MySpace is gone then I believe that Jerusalem is not far fetch.
If almighty MySpace is gone then I believe that Jerusalem is not far fetch.
PauncheousPirate
Newbie
- Sep 6, 2023
- 24
- 11
Singapore is more crypto friendly than china, but they are also super "free market" so not sure they will bail out the likes of Binance if they run into trouble. Also, Binance doesn't operate under the same strict regulations that US/UK companies do, which means they are definitley playing fast and loose in terms of risk management. Anybody know if Binance has undergone any audits by reputable 3rd parties as of late?
