Reviewed October 15th, 2020
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Binance 🔗
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Binance

Binance
5/10

Summary

Binance is a cryptocurrency website that allows you to buy, sell, and trade cryptocurrency such as Bitcoin, Ethereum, and more. You can sign up for an account for free and invest as much money as you want.

Breach History


Has there ever been a breach or data leak?

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Date of last breach

May 2019


Binance stated that hackers stole API keys, two-factor codes, and other information in the data breach. More than 7,000 bitcoin worth up to $40 million dollars were stolen. Theft impacted about 2% of its total bitocin holdings.

Privacy Checklist

Does it meet our minimum privacy standards?

Is any kind of biometric data collected (health, heart, voice, etc.)?

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Are you able to delete your data / the data collected about you?

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Does it use cookies, telemetry, or third-party tracking scripts?

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Is the privacy policy user-friendly (easy to understand)?

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Does it have parental controls?

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Does it use encryption to protect your data both in-transit and at-rest?

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Does it get regular software and / or firmware updates?

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Does it require you to create a strong password?

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Is there a system in place for managing security vulnerabilities?

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Does it have a privacy policy?

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How Can It Snoop?

What sensitive hardware access requirements does it have?

Does it have a camera or request / require access to a camera?

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Does it have a microphone or request / require access to a microphone?

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Does it track your location or request / require access to location data?

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Account Requirements

What information is required to create an account or use it?

Does it require an email address to use?

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Does it require a phone number to use?

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Does it require an address (home or office) to use?

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Payment Options

What payment methods are available?

Are you able to use a credit card as a payment option?

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Are you able to use a cryptocurrency as a payment option?

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Are you able to use PayPal as a payment option?

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Are you able to use cash or gift cards as a payment option?

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What Could Go Wrong?

What's the worst case scenario for your data?

There is not much risk in using this website. Binance collects personal information such as name, email, IP address and financial information and uses it to prevent fraud and measure site performance. This information is not shared with third parties unless legally required.

How Does It Share Your Data?

Where is your data going? Who has access to it?

Binance does not share personal information with third parties unless it is legally required to do so.

Good Things

Why should you use it?

  • Allows you to buy, sell, and trade cryptocurrency.

Bad Things

What are the downsides?

  • No real cons in using this website.

Final Thoughts


Binance does not have many privacy concerns or cons. Binance collects personal information, but does not share it with third parties unless it is legally required to do so. However, there has been a major data breach that resulted in more than $40 million dollars worth in cryptocurrency being stolen. Be aware of that before using this platform.

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