Average: 5 (1 vote)

What's the situation of Binance

On May 8th, 2019 a hacker activity stole 7,000 BTC (equal to $40,000,000). It's a security breach in the platform, and all Bitcoins are withdrawn.

Once the Binance team understood the problem, all withdrawals and deposits were frozen for 7 days. You can still trade within the platform, but you can not get your coins.

What's the problem in this case

The real issue is that people are using a wallet of the exchange platform and don't have their private keys to confirm ownership. In this case, it's all up to Binance to take care of your crypto assets security. In this case, it was not a successful achievement.

bnb hached issue

Even with many security layers like 2FA, password, transfer confirmation by email, and other security features, it was not possible to stop the hackers to take 7K BTC.

It's not just a problem for Binance owners, the whole crypto community is suffering from such issues.
In the meantime, the Bitcoin price is rising more and more.

Binance Exchange Alternatives

To buy or sell BTC you need an exchange platform. If you no longer trust the Chinese service you can move to BitIreland. We're different, and it's all for good. Our exchange service doesn't keep your crypto assets! Upon order, your Bitcoins are sent instantly to your wallet.

binance bitcoin alternative

For every crypto owner, it's crucial to use a reliable exchange platform. Otherwise, not only the crypto assets can be gone, but also your private information can be exposed.

BitIreland uses industry-leading security features to protect its clients. There is reliable customer service if you need any kind of help related to Bitcoin.

learn how it works

Binance Wallet Alternatives

If you're not a day-trader who uses Binance to exchange on a daily basis, there is no reason to keep your Bitcoins at the exchange account. You may buy BTC and then transfer the amount to a wallet by your choice (there is a huge list of alternatives).

A good solution for that reason is Blockstream Green (also known as Green Address). It's a free wallet for Android, iPhone, iPad, Mac OS, Windows. The wallet is powered (backed) by one of the most trusted Blockchain companies.

It's a maximum security digital wallet with everything you need to protect your Bitcoins.

Read Green Address review.