Binance — the largest cryptocurrency exchange in the world, with billions in volumes and millions of users. But despite its scale, it remains a centralized platform where you do not control your assets. This is not a wallet. This is a tool — and like any tool, it can break, be blocked, or be used against you.
Users often store everything on the exchange: BTC, ETH, stablecoins, NFTs. But this creates vulnerability. Examples?
- In 2023, Binance temporarily suspended withdrawals due to a technical failure.
- In 2024 — mass account blocking due to KYC re-verifications.
- In 2025 — an increase in phishing through fake Binance pages and Telegram support.
Yes, Binance offers convenience: Launchpad, Earn, quick trades. But it does not give you private keys. Which means — it does not give you true ownership.
Store assets in cold wallets (Ledger, Trezor). Use the exchange for trading, but not for storage. And don't forget: if the keys are not with you — the crypto is not yours.
💬 And where do you store your assets? Share your experiences — it will help others avoid mistakes.
