Is staking ETH on Binance risky?

[alltalk]

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.

You're right. There is no difference between staking in Binance and other CEXs. Since Binance is the best CEXs in the world, it is actually quite safe. However, we can't avoid the fact that CEXs is very risky because they should have no perfect security. Also, when we store our coins to CEX wallets, we don't have fully control of our crypto coins. That's probably why people assume it is risky to stake ETH in Binance. They feel worried because we will put our ETH for months on Binance.

[damsix]

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However, we can't avoid the fact that CEXs is very risky because they should have no perfect security.

There is nothing perfect in the world, friends, except that perfect is the cigarette brand from Indonesia "Sampeorna", and the word of Sampoerna the meaning is "Perfect". Awww LOL

Binance has many supporting factors why Binance is the number 1 exchange in the world.
Of course, the huge market cap traded on the Binance market has almost reached $81,737,756,948, which is extraordinary for Binance.
Staking Ethereum on Binance is really risky, because the so-called Centralized Exchange definitely has weaknesses, hacks, bankruptcy or anything that causes it to fail.
But back to my main line in this thread, namely that nothing is perfect and of course Binance also if it goes bankrupt will notify us so we can withdraw its assets from Binance, like Bittrex is doing now shortly after going bankrupt.

[Muneeb22]

ETH staking is the best way to make money on Binance and this is the time that we need to invest in the Binance in ETH and start staking on it. Crypto is the best market in the world which change so many peoples life and this time i change my life when the bull is strat because i buy some good coins on binance and hold that for the bull.

[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.

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

Likewise, I also don't dare to entrust my assets to be staked on any exchange at this time. Last year I did staking but after there were many cases of bankruptcy of an exchange I started to become wary and it was better to keep it in my personal wallet. And it is better to ignore the profits that can be obtained from staking on exchanges.

Except for BNB when there is a launchpool event which requires participants to stake their BNB to take part in the launchpool.

[MVL~$]

Binance seems very safe to me. Binance security is very well adhered to. At present, investing in Ethereum from Binance and holding it here for a long time will not cause any problem, these apps have been developed very nicely to ensure its security. You can undoubtedly hold Ethereum on Binance if you want.

[Condorlaib]

I couldn't trust any exchange, even one like Binance.The only thing I allow is staking using trans wallet. Today there are many opportunities for staking, maybe someone can write a few words about this and say what risks are present for the safety of their assets.I mean if staking is carried out in a trust wallet.

[bitterguy28]

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.

The price changing frequently is best for those who investing in accumulating , because they will sell when the price is increasing and buy when the price is decreasing in this strategy we will be increasing our holdings for till the Bull run comes .

[Bobcrypto]

In my opinion, if there is platform on the crypto space where it is safe to stake coin/tokens, I think Binance is very safe compared to other Exchanges platforms out there. As a of matter facts, staking ethereum on Binance platforms is the best, because there are the king of exchanges, having proven to be financially stable. In a nutshell, customer funds are highly guaranteed on any events of a hack, crypto meltdown or a prolonged bear run.

[Freemind]

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.

Many Binance (and other exchanges) users are not really aware of the danger. It seems that they have forgotten (or are unaware) of what happened with FTX or Mt.Gox, to give two examples separated in time. I have always advocated for self-custody and self-staking so that we can always know what our coins/tokens are doing. Leaving them in an exchange is a danger since any day we can lose everything for just a small percentage.

[therozaq]

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.

Many Binance (and other exchanges) users are not really aware of the danger. It seems that they have forgotten (or are unaware) of what happened with FTX or Mt.Gox, to give two examples separated in time. I have always advocated for self-custody and self-staking so that we can always know what our coins/tokens are doing. Leaving them in an exchange is a danger since any day we can lose everything for just a small percentage.

Private wallet  such as trust wallet, mew, metasmask etc are always being the first priority  to safe our assets.
But If we want do staking , I think binance is safe.
I don't stake Ethereum in finance, because I'm a trader. I use my coins for daily trading.

[Mehedi72]

Op crypto is venerable, so it is common that ether price will change after your staking even sometime you can't do anything after staking on binance and you have to admit it. Binance can be considered as safe and you also know that but i don't recommend staking in exchanges cause exchanges got hacked serval time even before. So you should better to find some other place for staking

[Nazmul012]

Every platform supposed to be good untill it get hacked or get scammed. Maybe binance is trustworthy and considered as secure platform this time but nobody knows what will happened in tomorrow. So I can't assuring 100% valid certificate to any exchange while it comes to safety issue. A single decision can make your capital out of control from you hand. But its true to binance is more promising platform among other exchanges

[doc]

Every platform supposed to be good untill it get hacked or get scammed. Maybe binance is trustworthy and considered as secure platform this time but nobody knows what will happened in tomorrow. So I can't assuring 100% valid certificate to any exchange while it comes to safety issue. A single decision can make your capital out of control from you hand. But its true to binance is more promising platform among other exchanges

agree, I also believe binance is trustworthy.
I have used this exchange for along time and safe
So, we can stake Ethereum.in binance, no worries about it.

[vegasus]

Of course, all types of meat in any perfume still contain risks. it just depends on how much risk he will face. Binance is the top exchange in the crypto world globally which already has a very good and trustworthy reputation. So we can say that it still has risks, but the risks are lower than perhaps other platforms. The next consideration is related to how much profit we can gain from staking, whether it is worth doing in a certain time period.

[Litzki1990]

Binance is just one exchange and there are many other crypto exchanges like Binance that fall into the same category. But compared to other exchanges you can definitely consider Binance exchange to be safe even though some of the best exchanges in the market have cheated people. If your investment amount is relatively small then you can keep your investment in exchange account but if the investment amount is very large then it is better not to keep that investment in your exchange. In keeping your investment, you can use a wallet with more security in which your Ethereum will be protected. It will be safest for you to use hardware wallet, if hardware wallet is not possible then you can use myEthereum wallet.