#BinanceSafetyInsights What are the risks of using Binance?

Let’s walk through the risks of Binance:

Platform Breaches: Binance has faced multiple hacks in its history. However, the company’s insurance fund has been used to fully compensate users for lost assets.

Phishing scams: Scammers often impersonate support representatives from Binance to hack into customer accounts. However, it’s important to note this type of scam is not just limited to Binance — it’s common across the cryptocurrency ecosystem.

Regulatory risks: In the past, Binance has stopped operating in multiple countries due to regulatory issues. If Binance pulls out of your region, you’ll need to transfer your funds to avoid losing access to your crypto.

How to stay safe on Binance

Let’s walk through a few tips to stay safe on Binance and other exchanges.

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