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Are you storing your cryptocurrency on Binance? Be careful!
Binance is one of the largest and most well-known exchanges in the world, but storing cryptocurrency here is classified as "Hot Storage." This means it is stored in a wallet connected to the internet, which exposes it to the risk of hacking in case the platform suffers a cyber attack.
For this reason, using "Cold Storage" is recommended. This is especially true in the following cases:
When the value of your cryptocurrency holdings is significant
If you do not plan to trade daily
If you want higher security separate from the exchange
Tips for Binance Users
Consider moving your cryptocurrency to a cold wallet like Ledger or Trezor.
Set up two-factor authentication (2FA) on your Binance account.
Do not keep large amounts of cryptocurrency on the exchange for extended periods.
Do not log into your account from untrusted devices or networks.
Important Message:
You are your own bank.
Keep your private keys secure, and do not trust any exchange completely.