Faslan king's Profile | Binance Square

Can I store a coin in Binance without investing it in trading, and how?

Yes you can always store your bitcoins, ethers or any other coin with these wallets without necessarily having to trade it. If you do not have an account with Binance yet, creating one it is rather easy. Once logged in, go to the “Wallet” tab of the page you arrived at after signing in. Here, you’ll have choices like “Fiat and Spot. ” This is your primary wallet where your digital assets shall be stored. Subsequently, select the cryptocurrency that you intend to deposit. Another great thing about Binance is that there is no fee for depositing funds and/or coins on the platform. Additionally, it is important to note that your funds are secure with Binance due to the implemented high-level security mechanisms. They use both hot and cold wallet, which suggests that a significant portion of the users’ funds is stored in the offline wallets to minimize the exposure to hackers. If your coins are at your Binance wallet it is extremely easy for you to monitor their price and your position in those assets. There are no string attached and no pressure to participate in trading them. In other words, the only thing that your Binance wallet is a space where you store your asset until you see what to do with it long-term holding, withdrawal, or trading. Yes, you can have a coin in Binance without having to stake it on any trade.