Content
Binance is the world's largest exchange in terms of trading volume. The 7,000 stolen bitcoins in the first two days are worth about 40 million U.S. dollars, which is not a small loss for Binance. If you switch to other small and medium exchanges, it may be straightforward. Lead to bankruptcy.
As early as July last year, Binance was suspected of being stolen. Although Binance did not publicly confirm at the time and only admitted that there was an abnormal transaction, it established a SAFU fund to deal with customer losses caused by similar incidents. Not to mention Binance, that is, both the CIA and FBI have been stolen by hackers.
After the incident, Binance officially issued an announcement as soon as possible. At the same time, CEO Changpeng Zhao also provided online answers through the live video website. Binance's post-event handling method is more active and appropriate.
Many friends are consulting, is it safe to put the currency on the exchange? As far as I know, most of my readers are newcomers who have just come into contact with digital currency, and some of them only learn about the so-called blockchain and digital currency through some model projects.
For novices, you can still put it on the top exchanges in the early stage, because the operation is relatively simple, but for the top exchanges such as Binance and Huobi, it is still safe and credible. This time, the Binance theft incident, For Binance users, there is no loss.
In the future, I will be more proficient in the operation, and I can further learn to use hot wallets and cold wallets (the difference between online and offline).
Putting the coins on the exchange is equivalent to putting the money in the bank. The advantage is that the operation is relatively simple, the password is forgotten, and it can be retrieved through the platform, and you can buy and sell at any time. The disadvantage is that these coins are not 100% owned by you. Control, if one day the platform is gone, it will be gone. Of course, as long as it is not a small exchange, this probability is extremely small.
Therefore, the key point is to enlarge the trading platform, and there may be some coins that you are optimistic about, which can only be traded on some non-head exchanges. For safety reasons, it is better to transfer to the wallet.
Putting coins in your wallet has the advantage that these coins are 100% controllable and your property in the true sense. "Bitcoin is the first time that mankind has used technology to guarantee the inviolability of private property", that is what it means.
The disadvantage is that once you lose the private key of the wallet, you will always lose the coins in this wallet and lose your wealth. This is the characteristic of decentralization. I will introduce the wallet in detail later.
The above is only an introduction to novice friends, and it is relatively superficial, and experienced and old drivers can ignore it.
After the Binance theft, let’s take a look at the current long-term investment value of BNB? The following BNB price chart during this period:
Recently, the price of BNB rose to a maximum of US$25.25 on April 20, and the trading volume also reached its peak. After encountering a large selling pressure, the trading volume and price fell all the way. After Binance was stolen on May 8, the BNB price plummeted to 19.92 US dollars, but the trading volume increased again and the price rose to more than 20 US dollars.
In the short term, US$20 is a strong support level. If there is no more substantial negative BNB, it will not fall below US$20, but there is also a serious lack of upward momentum.
Binance’s series of positives since the Spring Festival have been exhausted, and coupled with the theft, unless the digital currency market as a whole improves in the near future, it will be difficult to have a new market, which will be in the range of 20-25 US dollars. Volatility, BNB is still a long-term optimistic attitude.