Is binance really trustworthy?

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kalpana007

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Many members here recommend binance as the best exchange. But I was reading their history and found that they had also been hacked in past. Their owner had also been culprit of fraud which he admitted. At such, is binance really trustworthy in 2025 ?
 
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Out of the exchanges I would say Binance and coinbase are the two most trustworthy. However, no company is immune from hackers and also if you rely on a third party to look after your cryptocurrency then you will always be at risk. If you want to reduce risk further and you’re happy to have the responsibility then get yourself a self custodial wallet and look after your own private keys.
 
davids355 said:
Out of the exchanges I would say Binance and coinbase are the two most trustworthy. However, no company is immune from hackers and also if you rely on a third party to look after your cryptocurrency then you will always be at risk. If you want to reduce risk further and you’re happy to have the responsibility then get yourself a self custodial wallet and look after your own private keys.
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Coinbase might be trustworthy but they do not know how to be in headlines. Any coin listed there gets almost no exposure, with binance it becomes 10x in one hour.
 
kalpana007 said:
Coinbase might be trustworthy but they do not know how to be in headlines. Any coin listed there gets almost no exposure, with binance it becomes 10x in one hour.
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Haha very true.
 
Binance still is the best exchange at the current time bro
 
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Binance is generally considered trustworthy, but like any platform, it carries risks, and users should exercise caution and conduct thorough research.
 
Despite its problems, Binance is still the king among crypto exchanges. If it is hacked again or become somehow unsafe, the whole market would be affected
 
There are a lot of scammers in the crypto world. Binance is one of the most safe crypto exchange platform.
 
Like everything else, it's trustworthy until it isn't. Everybody is a mess and/or a bankruptcy away from never paying you back what you have invested.

Still, Binance seems to be one of the more trustworthy ones.
 
notNewB said:
Is it trustworthy for trading? Yes
Is it trustworthy for holding? No

my 2 cents
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100%.

People always say take your coins off the exchanges, you do not own the keys.

Bro, I'm trading futures, how the hell am I gonna trade afterwards unless I use a slower DEX.

This advice is good for the majority of people who just hold.
 
kalpana007 said:
Many members here recommend binance as the best exchange. But I was reading their history and found that they had also been hacked in past. Their owner had also been culprit of fraud which he admitted. At such, is binance really trustworthy in 2025 ?
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Regardless of the hacks it's a pretty solid exchange.
 
Every centralized crypto exchange carries risk, try to trade with a DEX as much as you possibly can. Even if you buy bitcoin on a platform with KYC and trade from there, swap it for Monero, then to whatever crypto you want. This will break the link back to you.
 
kalpana007 said:
Many members here recommend binance as the best exchange. But I was reading their history and found that they had also been hacked in past. Their owner had also been culprit of fraud which he admitted. At such, is binance really trustworthy in 2025 ?
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Yes Binance is the best for ur crypto wallet. Use 2FA for security.
 
not much, but it's the most trustworthy, so far nobody managed to create a better one
 
The trust for binance has gone down over the years. I would be very cautious about using the service now
 
It is one of the top crypto exchanges, but its history of hacks and legal troubles raises concerns. Although it has improved security and compliance, opinions on its trustworthiness in 2025 remain divided.
 
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