November 27, 2022

Binance study: 92% of institutional investors store crypto assets on exchanges

According to Binance research, the vast majority of institutional investors keep their cryptocurrencies on exchanges, despite security risks.

As part of a study conducted by the exchangeBinance cryptocurrencies, 76 institutional investors were surveyed. The survey was part of a study by the Binance Institutional Market Insights. According to the results, it became known that 92% of institutional investors (70 out of 76 respondents) keep their bitcoins, stablecoins and other crypto assets with intermediaries.

“Exchanges remain the most popular option forstoring crypto assets among our institutional and VIP clients, ”says Binance. “When switching to self-storage, cold wallets are the second most popular option, given their increased security and the control they provide. Third-party custodial services were the least popular with the survey participants, they were preferred by only 2.6% of investors (2 out of 76). ”

The choice of even such large investors is not difficultcall rash, as cryptocurrency exchanges continue to be regularly hacked and hacked. In November, the little-known Vietnamese cryptocurrency exchange VinDAX was attacked by a hacker, as a result of which about $ 500,000 in cryptocurrencies was stolen from the site.

In July, the Bitpoint site became a victim of hackers, and in June the Bitrue exchange. Since the beginning of the year, the list of affected exchanges has been supplemented by Binance itself, as well as Bithumb, DragonEX and Cryptopia.