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 What is the best …

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34 Comments

  1. I know that Binance is safe, but when I first was researching crypto I actually made an account on Quadriga, which was big in my country.(Canada) Thank god I never bought anything on there. Read up on it. I would personally use other wallets.

  2. I've used Binance for 3 years now, not a single complaint – On the other hand, their customer service was amazing the couple times I needed it.

    That being said, google Mt. Gox and never forget "Not your keys, not your coins".

    I try not to keep more than a few thousand bucks worth of bitcoin on any exchange, but only because I don't need to take that risk, as I'm a long term hodler.

  3. Heeeey Andrew and Aaron, first of all, great job you guys do! Awesome interview and great pieces of it you share nowadays. I've subscribed a while ago and I always watch everything you upload. I like your perspectives a lot, so I WOULD LOVE YOUR OPINION ON THIS

    https://www.reddit.com/r/cryptocurrencymemes/comments/i32qu2/its_totally_fine_that_all_the_major_btc_mining/

    I'M GENUINELY CONCERNED AND I HAVEN"T GOTTEN A SINGLE ANSWER ON ANY YOUTUBE CHANNEL ABOUT CRYPTOS. I'M ABSOLUTELY CURIOUS OF YOUR THOUGHTS.

  4. 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.

  5. 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.

  6. 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

  7. That’s such a great video. Thank you for making it.

    I still have questions about it. When we deposit crypto in MetaMask, where is the crypto stored? Is it stored with MetaMask server? Let’s say if one day MetaMask is gone, are we still able to access our crypto?

    Also, if we become a liquidity provider in defi exchange like Uniswap, where is our crypto stored?

    Thanks in advance!

  8. Reaching out for HELP I have left coins on the Binance Foreign Exchange as a United State Citizen. As a beginner I left my coins there and the exchange doesn't verify for US now. Trying to transfer to Binance US and the withdrawal has been reset to normal but it still won't transfer been trying for 4 days now. Been lot out of my own account. Hoping the CEO can HELP.

  9. if i dollar cost average every time a fiat deposit went missing on
    binance…i probably would not need to work anymore…binance
    support…does not exist…bye bye money

  10. Having your own private key is like having your entire life savings all in cash stashed away in your home. No, actually it's more like it's all on one bill, or like some tiny keychain.

    What if someone lives with their room mates, and has a large amount of money stored in their ledger? What if someone breaks into your house and robs you at gunpoint? What if you lose your ledger or your private key? It's way unsafer to store your own private key in my opinion.

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