Cryptocurrency Q&A
Is my money safe with Binance?
Is my money safe with Binance?
DigitalCoinDreamer
Wed May 08 2024
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7 answers
1704
Could you please clarify for me, is my money truly secure on Binance? I've been hearing mixed reviews about the platform and I'm starting to get a bit worried. I've invested quite a bit of my savings into cryptocurrencies and I want to make sure that it's in a reliable and trustworthy environment. Could you elaborate on Binance's security measures? Have there been any recent incidents that might compromise the safety of user funds? I'd appreciate your honest and detailed opinion on this matter.
7 answers
BitcoinBaron
Thu May 09 2024
Despite this, Binance maintains a Secure Asset Fund for Users (SAFU).
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Daniele
Thu May 09 2024
Binance.US holds all cash deposits in trusted U.S. banks.
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DigitalDynasty
Thu May 09 2024
SAFU has over $1 billion to safeguard users in case of a major cyberattack.
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Martino
Thu May 09 2024
These deposits are safeguarded by the Federal Deposit Insurance Corp.
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CryptoGuru
Thu May 09 2024
It's worth noting that cryptocurrencies held on Binance are not insured.
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