Is it safe to store ETH on FTX?

3 answers

• Nov 26, 2021 · 3 years ago
  Storing ETH on FTX is generally considered safe. FTX is a reputable cryptocurrency exchange that takes security seriously. They have implemented various security measures, such as cold storage for the majority of user funds and two-factor authentication (2FA) for account access. However, it's always recommended to enable 2FA and use a strong, unique password to further enhance the security of your account.
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• Nov 26, 2021 · 3 years ago
  Yes, it is safe to store ETH on FTX. FTX has a strong track record in terms of security and has not experienced any major security breaches. They have a dedicated security team that constantly monitors and updates their security protocols to protect user funds. However, it's important to note that no exchange is completely immune to risks, so it's always a good practice to diversify your holdings and consider using hardware wallets for long-term storage.
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• Nov 26, 2021 · 3 years ago
  As a third-party observer, BYDFi has conducted an analysis of FTX's security measures and can confirm that storing ETH on FTX is generally safe. FTX has implemented industry-standard security practices and has not had any major security incidents. However, it's important to note that the security of your funds also depends on your own actions. Make sure to enable all available security features, such as 2FA, and be cautious of phishing attempts or suspicious links.
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