Binance, the best crypto exchange?

[Dr.Bitcoin_Strange]

During my investments I felt very comfortable with binance, but after this, which are the safest exchanges?

Binance happens to be one of the most convenient and popular exchanges around the globe, but that doesn't make it the safest. Although it's mostly considered the safest exchange in the world of crypto, but that doesn't mean it's completely impenetrable. Irrespective of the many security measures employed by Binance, measures such as the 2FA, Address whitelisting as well as cold storage of user funds, it still doesn't offer a 100% guarantee because even what is considered to be the safest exchange could still be breeched by scammers.

Just recently, there was even an unconfirmed rumor flying around about Binance being hacked, but no credible sources have have so far confirmed the credibility and authenticity of the rumor. But whether it's true or not, there's every chance that Binance could be breeched.

[kulkhan]

During my investments I felt very comfortable with binance, but after this, which are the safest exchanges?

There is actually no safest exchange, everything has risks. Binance itself has experienced a hack, but they want to compensate for the losses. In this case, to determine which exchange is the best, this will honestly depend on each individual's preferences.

Indeed, in terms of ranking in coin market cap, Binance is number 1.
https://coinmarketcap.com/rankings/exchanges/

However, there are many people who don't like Binance because it is a centralized exchange. And there are several countries that cannot access and use Binance. So, this will also affect its users.

Personally, yes, Binance is one of my favorites to use. And so far I am also very comfortable using this exchange. Despite the risks, so far I am comfortable and easy to use it, especially among global exchanges.

Yes i am agree with you, there are no any exchanger which is 100% secure. But i think  allover considering Binance is best and also Secure. But it also true Binance also hucked, although users are get return his fund by Binance. So Binance is also trusted.
We know Binance obliges KYC. And for KYC i think it has been more secure.

[sampoerna]

There is actually no safest exchange, everything has risks. Binance itself has experienced a hack, but they want to compensate for the losses. In this case, to determine which exchange is the best, this will honestly depend on each individual's preferences.

Indeed, in terms of ranking in coin market cap, Binance is number 1.
https://coinmarketcap.com/rankings/exchanges/

However, there are many people who don't like Binance because it is a centralized exchange. And there are several countries that cannot access and use Binance. So, this will also affect its users.

Personally, yes, Binance is one of my favorites to use. And so far I am also very comfortable using this exchange. Despite the risks, so far I am comfortable and easy to use it, especially among global exchanges.

Yes i am agree with you, there are no any exchanger which is 100% secure. But i think  allover considering Binance is best and also Secure. But it also true Binance also hucked, although users are get return his fund by Binance. So Binance is also trusted.
We know Binance obliges KYC. And for KYC i think it has been more secure.

because there is no exchange that guarantees 100% safety, so at least we have to choose the best and most comfortable one that we can use. And Binance is one of the most trusted. even on CMC and also other tracekr exchanges. Binance is still the first. There used to be FTX which was almost close to Binance but was destroyed overnight because of that incident. And now, several of Binance's competitors also seem to be very potential and good to use. Such as: Coinbase, Kraken, Huobi, and so on. However, habits are sometimes hard to stop. Especially if we are used to Binance. So that's what we will often use and recommend, because we have experience in this exchange at least.

And regarding the level of security, we ourselves must also be able to maintain the privacy and security of our assets. Don't use an exchange wallet to invest, in this case to store large amounts of coins for a long time on the exchange, avoid this.

[Primo1760]

During my investments I felt very comfortable with binance, but after this, which are the safest exchanges?

Definitely Binance is very good and safe exchange. If you want to find a safe exchange after binance exchange then definitely I can suggest you Kucoin, Bybit after binance. I am mainly taking services from Binance, Kucoin, Bybit exchange I have not felt any annoyance from any of these services so far. From here I can p2p anytime anywhere in my native currency in very short time. Also I am using these exchange platforms for trading. But you can definitely go with all these exchanges if you like.

[Faisal2202]

But I started to see some hidden fees which is really annoying I wonder if anyone else also has faced this issue.

I don't think there are any 'hidden' fees, binance has its trading and withdrawal fees and you can find out about how much fees you are going to pay when you use their system. By the way, Binance charges a lot when you want to withdraw BTC from their platform.

Hmm, actually I never saw the fee list provided by Binance that carefully, but now I just checked it again and in they don't really tell how much they are going to charge when you will buy or sell some crypto in spot trading, they do show at that page the fee they are going to deduct but after making the trade the fee deducted is more then that which made me to say my statement you have mentioned.

But you are right about withdrawal fee on Binance they are so high, for example, ETH, BTC, and other coins, Bybit, and gate.io provide better rates, in compared to Binance.

[bayu7adi]

Yeah..everyone feels secure with Binance because it's widely used. So, users expect all the staff and owners of Binance to take responsibility if there's ever a problem. As long as they hold the top position and remain the most popular, I think they should also commit to providing top-notch service as the number one exchange.

The business ecosystem has been well-established, which should reassure users because Binance's finances should be sufficient to enhance their security and offer better service to users.

But unfortunately, this is a centralized exchange, so there's no guarantee it will remain safe indefinitely. There are things they know that we don't. So, it's important to stay cautious even though Binance is currently the best.

Someone said... not your key, not your coin.

[Aanuoluwatofunmi]

During my investments I felt very comfortable with binance, but after this, which are the safest exchanges?

Binance is a centralized exchange, so it could be the best in this category, but when we are considering the decentralized exchanges, we can make use of bisq or hodl hodl crpto exchange, maybe we should also go beyond their global recognition and focus on the benefit and danger in choosing any particular one for our own choice, and this will bring about looking at the difference between a centralized exchange and a decentralized one first.

[taufik123]

Binance is a centralized exchange, so it could be the best in this category, but when we are considering the decentralized exchanges, we can make use of bisq or hodl hodl crpto exchange, maybe we should also go beyond their global recognition and focus on the benefit and danger in choosing any particular one for our own choice, and this will bring about looking at the difference between a centralized exchange and a decentralized one first.

A decentralized exchange is recommended because it's not centralized and unlike exchanges like Binance which are centralized, so you don't have full control.
But whether both of these are safe, it can also be said to be safe, depends on how committed the exchange or DEX is to its users.

DEX will also not always be safe, there are some problems that can arise.
The safest is for investment, store it in a hardware wallet that has better security than other wallets.

Related What are the best exchanges, tier 1 exchanges like Binance, Coinbase, Huobi etc.
It's an optional option, but I've been a Binance user myself from the beginning of Binance until now and it's still pretty safe.

[Cantsay]

Yeah, I use binance exchange for my P2P trading

Take note that there is no p2p trading on Binance, the 'p2p' on Binance is actually peer to Binance and then Binance to peer, that is because there is a third party involved, and this third party is Binance. If you want to trade p2p, then you must use p2p exchanges and you can choose one from this list:
https://kycnot.me/?type=exchange

This is true, and I believe this defeats the whole essence of having a P2P system in the first place which is to eliminate the use of any middleman while carrying out any transaction.

But for convenience's sake - I guess we can still just keep referring to it as "p2p". Many newbies prefer to use Binance rather than a DEX because Binance ensures the safety of your funds while performing the work of the middleman.

[Z-tight]

Many newbies prefer to use Binance rather than a DEX because Binance ensures the safety of your funds while performing the work of the middleman.

So many people use Binance because of 'convenience' and they were exposed to only centralized exchanges when they joined crypto. Take note that funds are not safe in any centralized exchange and they don't ensure the safety of your funds, only you can ensure that, by being in control of it.

[Cantsay]

~~~
Take note that funds are not safe in any centralized exchange and they don't ensure the safety of your funds, only you can ensure that, by being in control of it.

Not Your Key Not Your Coin.

When I said "safety," I meant them holding onto the coin until the other party involved in the trade has made the payment. I never meant safety as in to store our funds.

As long as we all treat exchanges the way they were meant to be treated, i.e as an exchange and not as a wallet, then we shouldn`t have any problem with them.

 

[Litzki1990]

Binance Crypto Exchange is perhaps the most popular crypto exchange out there. Earlier FTX was very popular in terms of popularity along with Binance but now Binance has become the most popular exchange after FTX disappeared from the market. All the features are provided in this exchange very easily and all kinds of features are available in this exchange so the users get the benefits of the features of this exchange very easily. In terms of trading, all kinds of features have been added to this exchange, besides this exchange has sufficient security, that is, considering all aspects, we can consider this exchange as the best crypto exchange in the market.

[EluguHcman]

Talking about hot wallets or cold wallets? Because with my best experiences in the crytop currencies storages and exchanges, grew more comforts with Binance exchange wallet not because of its fast and high influences of its users but because they are reputable and enhances fast and reliable transactions.
But talk about the Cold wallets where to store and safe your coins, then I would suggest electrum wallet due to its two factors of authentications and lot of its advancements of security factors.

[Sevi]

Talking about binance  the most popular crypto exchange because it is convenient  with them to exposed centralised exchange when they joined in crypto.

[Gurujebs]

Yes i am agree with you, there are no any exchanger which is 100% secure. But i think  allover considering Binance is best and also Secure. But it also true Binance also hucked, although users are get return his fund by Binance. So Binance is also trusted.
We know Binance obliges KYC. And for KYC i think it has been more secure.

If today Binance is hack, don't think that Binance will just fix everything and return users money to them. You might heaed of SAFU before, it's a kind of insurance money Binance has reserve for its customers in case of any problems in the future but that money is not up $1.5B, If today Binance becomes hack, it will be difficult to pay everyone because that amount is actually less than the total amount of Binance reserve but if the amount that is hack is less than such amount, then it can be paid but that doesn't justify any reason to depend on Binance and keep your funds there, anything can happen to any exchange even if security is very tight.