Is staking ETH on Binance risky?

[cryptoworld1]

However, the risk on Binance is far less than staking the Ethereum directly. So the main risk while staking ETH 2.0 is that prices of ETH vs. BETH are volatile and change frequently.

[Doovla]

No way mate that it is risk for Binance exchange, safety is at highest level with much new security passwords that allow.You can even earn Ethereum there for profits throught weeks or months. You choose good if you want to keep your assets in exchange for long term.

[densus88]

No way mate that it is risk for Binance exchange, safety is at highest level with much new security passwords that allow.You can even earn Ethereum there for profits throught weeks or months. You choose good if you want to keep your assets in exchange for long term.

I think binance is safe.
OP explained the risk on Binance is far less than staking the Ethereum directly.
He/she just asked, it's safe or not.
Staking in binance is safe, good luck...

[jonathancool220]

No way mate that it is risk for Binance exchange,

I think binance is safe.

Something that is stored on a centralized exchange like Binance, Coinbase, Kraken, BitFinex must have a fatal weakness due to the exchange going bankrupt (I pray it doesn't go bankrupt).
But for Binance, it is trusted that we can stake Ethereum in the Locked (eth 2.0, locked for 1, 2, 3 month etc.) and Flexible sections, depending on which section we are comfortable with for staking Ethereum.
But my suggestion is that staking Ethereum on Binance is not completely safe, maybe 50% is safe and 50% is not safe, especially since yesterday there was a change in the CEO of Binance who was originally Changpeng Zhao and changed to Richard Teng, we also have to be careful because CEO changes are common. there are always surprises.

[bitmover]

No way mate that it is risk for Binance exchange, safety is at highest level with much new security passwords that allow.You can even earn Ethereum there for profits throught weeks or months. You choose good if you want to keep your assets in exchange for long term.

I think binance is safe.

MtGox and many other dead bodies were safe too.

The problem is that the risk is not worth.

Binance may have legal probelm and your coins may get freeze. It may be hacked or whatever,  many things may happen.

If you want to stake eth,  I suggest using something recommended from ethereum.org

https://ethereum.org/en/staking/

[Gurujebs]

No way mate that it is risk for Binance exchange, safety is at highest level with much new security passwords that allow.You can even earn Ethereum there for profits throught weeks or months. You choose good if you want to keep your assets in exchange for long term.

I think binance is safe.
OP explained the risk on Binance is far less than staking the Ethereum directly.
He/she just asked, it's safe or not.
Staking in binance is safe, good luck...

What do you mean by it's safe?

I'm not sure if the OP understand how ETH staking really work. In other to stake, you need around 32 ETH in 2021 to personally stake your ETH but I think we have other validators that allow other people to stake  with them but it wasn't available to unstake until earlier this year which is why I don't like the staking, most of the profits gain on ETH is wipe out by whales. But I think you can still stake your ETH to a validator and it's safe but you have to choose a good one. Custodial wallet like Trust wallet also offer this services and are much better than Binance since you hold the seed phrase and the private key.

Binance on the other hand might look safe but it's not practically advisable thing to do because you don't have the private keys to your coins and you can't unstake when you like, they control everything you do and if Binance is shut down today, you wouldn't have a place to fall onto. So anytime you are making decision to use Binance, check if there is way you can do it in a decentralized way.

[bitbit97]

And add to this that this is Binance, who now is to pay multimillion fine to US, and now cooperate closely with US government. Previously Binance was more independant, now we dont know what Binance going to do next week or how tight US going to squize CZ balls. But take into considerstion, that despite your own wallet, there is not safer place in crypto.

In general is it worth staking on Binance? Does it offer good %? It is less than 3% APR. Other altcoins are more profitable.

[Doovla]

No way mate that it is risk for Binance exchange, safety is at highest level with much new security passwords that allow.You can even earn Ethereum there for profits throught weeks or months. You choose good if you want to keep your assets in exchange for long term.

I think binance is safe.
OP explained the risk on Binance is far less than staking the Ethereum directly.
He/she just asked, it's safe or not.
Staking in binance is safe, good luck...

Not just Ethereum but the rest of assets you put in Binance are completely safe out there. So for try other it is not loss for sure mate. Comparing for functionality in other exchanges, Binance have the most advantage in crypto. No mistake. Percentage for stake is in movement throught the year with slight high for years to come.

[Freemind]

Staking ETH on Binance has the same risks as staking on other exchanges. We know that Binance has a very good reputation (for some it is the best exchange) but anyway nothing is perfect and cybersecurity is no exception. At any time any exchange can have problems, and although we know that Binance has enough funds to return users' coins/tokens in the event of a disaster, that would mean that we would have to wait a long time until we can recover our funds. Personally, I have always preferred to stake independently, even if the percentage obtained is slightly lower.

[electronicash]

No way mate that it is risk for Binance exchange, safety is at highest level with much new security passwords that allow.You can even earn Ethereum there for profits throught weeks or months. You choose good if you want to keep your assets in exchange for long term.

I think binance is safe.
OP explained the risk on Binance is far less than staking the Ethereum directly.
He/she just asked, it's safe or not.
Staking in binance is safe, good luck...

Not just Ethereum but the rest of assets you put in Binance are completely safe out there. So for try other it is not loss for sure mate. Comparing for functionality in other exchanges, Binance have the most advantage in crypto. No mistake. Percentage for stake is in movement throught the year with slight high for years to come.

it may be safe since they are one of the biggest exchange. but remember that some countries today are planning to block binance. governments today is just regulating their people engaging in crypto.

India just recently demanded binance to comply to their laws. the SEC my country also plans to block binance. if it happens while i'm staking my ETH in binance, its doomed to stay there until unblocked.

[bitmover]

I am impressed about how many people consider leaving assets in binance "completely safe".

Be careful guys. Leaving money in exchange isn't ever completely safety.

[sampoerna]

However, the risk on Binance is far less than staking the Ethereum directly. So the main risk while staking ETH 2.0 is that prices of ETH vs. BETH are volatile and change frequently.

In fact, every action we take in the crypto space definitely involves risk. But at least you take the top exchange and it looks like the risk is smaller. However, another risk is that you cannot sell my coins when staking. Not only that, the profits also usually not really high, but they are quite low APY. .

[Uruhara]

However, the risk on Binance is far less than staking the Ethereum directly. So the main risk while staking ETH 2.0 is that prices of ETH vs. BETH are volatile and change frequently.

Maybe Binance is the most trustworthy for now when it comes to staking. Because we have seen how this exchange is continuously attacked by fud. But in reality the Binance exchange is still standing strong to this day. Even BNB, which is an exchange coin, also continues to have a positive trend in price. Doing any staking always has risks. This also includes staking Eth.

But I haven't tried eth staking yet. Because currently I am focusing on layer 2 of ethereum such as arbitrum which seems to continue to increase as the ecosystem continues to grow in the increasingly large arbitrage network.

[Carbitcoin]

However, the risk on Binance is far less than staking the Ethereum directly. So the main risk while staking ETH 2.0 is that prices of ETH vs. BETH are volatile and change frequently.

Maybe Binance is the most trustworthy for now when it comes to staking. Because we have seen how this exchange is continuously attacked by fud. But in reality the Binance exchange is still standing strong to this day. Even BNB, which is an exchange coin, also continues to have a positive trend in price. Doing any staking always has risks. This also includes staking Eth.

But I haven't tried eth staking yet. Because currently I am focusing on layer 2 of ethereum such as arbitrum which seems to continue to increase as the ecosystem continues to grow in the increasingly large arbitrage network.

And I, in turn, still can’t decide on staking Ethereum on binance. I don’t have 32 ether, but binance is more suitable and safer than others for the available amount. But I still don't dare trust Binance

[dekafee79]

Staking ETH on Binance has the same risks as staking on other exchanges. We know that Binance has a very good reputation (for some it is the best exchange) but anyway nothing is perfect and cybersecurity is no exception. At any time any exchange can have problems, and although we know that Binance has enough funds to return users' coins/tokens in the event of a disaster, that would mean that we would have to wait a long time until we can recover our funds. Personally, I have always preferred to stake independently, even if the percentage obtained is slightly lower.

You're right, staking in binance is same like at other exchange that have good reputation.
Binance  popularity is bigger than other exchange.
If we talk about safe or not, I think It's safe.