🔥 Out Now 🔥 Our Q1 2021 Crypto Report is fresh off the press! Read it first and understand the state of cryptocurrency in the first quarter of 2021 - from the rise of NFT to $2 trillion crypto market cap and much more! 🔎

Secure Asset Fund for Users (SAFU)

By CoinGecko | Updated on Mar 03, 2020
On the 3rd of July, 2018, Binance announced the Secure Asset Fund for Users (SAFU) as an emergency insurance fund to protect their users in the event of any hacks or security breaches. The SAFU fund is collected as a portion of users' trading fees, and increases as more users trade on Binance

Share this with a friend!

Related Terms

Software Development Kit (SDK)
It is a collection of software development tools in one package installation. It is designed to help developing applications for a specific device or operating system (OS).
Wallet address
The address in which cryptocurrency can be stored, sent to and receive.
Block
In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.
Gas limit
A term refers to the maximum amount of units of gas user's willingness to spend on a transaction on Ethereum blockchain.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.
coingecko (thumbnail mini)
CoinGecko for iOS
coingecko (thumbnail mini)
CoinGecko for Android