Is it Safe to Store Cryptocurrency on an Exchange in 2020? | CZ CEO Binance Interview

CZ, founder and CEO of Binance, answers the question: Is It safe to store your cryptocurrency on an exchange in 2020? August 2020

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[joruan]

I been using Binance for years and don't have any complain, specially with the Staking and Compund Interest on Savings 😁👍🏻

[bulldogwoof]

I highly respect CZ, people give him too much shit for his hard bloody work.

[malyjacek]

The cryptocurrency market has made a lot of people very wealthy over the past decade.

[lspag]

Not your keys, not your coins. Spend the time to learn how to store them yourself 👌

[VeMK]

Do both, hold what you want to save long term on your own and keep liquid assets on the exchange

I bought some crypto about 3 years ago, I totally forgot I still had the account active, I found my user name and password and logged into my account. To my surprise I had 40 litcoin and 10 Ether that I didn't remember I had, as well as a bunch of other alternative coins I don't even remember buying. In total it was about $4, 800 dollars, and BINANCE kept it safely.

[ChiefKene]

I left some crypto on Binance for almost 3 years.... came back and it was still there lol

[haych]

very good points. It takes a lot of time, patience and record keeping skills to manage crypto independently. I suspect most people don't have enough of two or more of those requirements.

[Joseph-rxtp]

You guys have been killing it this year. Keep it up!

[kennethclark]

Guys I like your content. I’m a brilliant old guy almost 60. Which means I realize you aren’t too old to learn new tricks. Otherwise I never would have learned Bitcoin.

[juniorog]

I bought some coins few years ago on binance left it in ther and forgot about it, logged back in years later and its still in there

[giorgikalandarishvili]

i like CZ his exchange is leader in crypto ... and i thank u brothers for such contents, i am loyal sub for years and i watched how u grew up and became interesting content makers ... thanks Austin and Aaron again and good luck

[Martyn]

Yeah, agree with CZ if you’re the kind of person who loses stuff you don’t want to withdraw your cryptos to your own cold wallet cos if you lose your seed code you’ve lost everything. Leaving cryptos on the exchange isn’t great either but you have SAFU and support if needed with Binance looking after your keys for you. CZ doesn’t want to continue to pay to protect your cryptos, but he is doing and he’s using cold storage to keep most cryptos offline. If you trust Binance that seems to be your answer.

[shib]

Whatever Binance is the best exchange in the industry

[lawrencewong]

i love CZ, i will ALL MY ASSET ON BINANCE FROM NOW ON

[jimhughes]

Really love the short/quick vids!!! Great work!

[oLuii]

If they don't want people to keep bitcoin on the exchange... then why do they have a withdrawal fee?

[neverweardirtyshoes]

BAM BAM👍👍 how quickly can u transfer ur coins back to an exchange to convert back to USD?? Something I always thought about. Bitcoin jumps to 50k as an example or TRT to $1.00 or ADA to $5 and you want to cash out but exchanges are overflowed and u can’t get ur coins back onto an exchange to cash out. Always been on my mind. Would like to hear other points of view on this topic.

[manescreen]

Should i just store them on a "LEDGER NANO"

[emirsaric]

Interesting, i still think you should hold your coins everywhere in case an exhabge gets hacked you got other coins on 4 other exchanges and maybe in 2 different wallets.