Cryptocurrency Q&A
Is my money safe on Binance?
Is my money safe on Binance?
MysterylitRapture
Wed May 08 2024
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6 answers
1668
I'm a bit concerned about the safety of my funds on Binance. With the recent news and rumors about cryptocurrency exchanges, I can't help but wonder if my money is really secure there. I've heard stories of hacks and losses on other platforms, and it makes me nervous. Binance seems to be a popular choice among crypto enthusiasts, but is it really trustworthy? I'd like to know more about their security measures and how they protect their users' funds. Could you please provide some insights on this matter? I'm really considering moving my crypto assets to Binance, but I need to be absolutely certain that my investment is safe.
6 answers
Maria
Thu May 09 2024
Additionally, Binance maintains a Secure Asset Fund for Users (SAFU) worth over $1 billion.
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OliviaTaylor
Thu May 09 2024
This SAFU fund is designed to safeguard users' assets in the event of a significant cybersecurity attack.
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Eleonora
Thu May 09 2024
At Binance.US, all cash deposits are securely held in United States banks.
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HanbokGlamourQueenElegance
Thu May 09 2024
These deposits are protected by the Federal Deposit Insurance Corporation (FDIC).
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ZenHarmony
Thu May 09 2024
It's worth noting that cryptocurrency holdings on Binance are not insured.
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