Binance is always subject to plenty of FUD, an sometimes is true because such a large exchange and one of the most active ones needs to have growing pains.
Yes, you are right. It would be just more convenient if they notified of such actions in advance like they usually do in their announcement thread. |
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I read about it too. Earlier, I thought only withdrawals are suspended and deposits are working fine. I am not sure now. But I trust Binance and I know they will fix this issue soon.
Vice-versa. The withdrawals are fine, only deposit option is suspended. |
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One thing I understand your situation was you just deposit in the wrong timing. The time you deposit is where steemit deposit process has starting to have a problem. You are just impatient. Of course binance will immediately notify all user once detect the problem but not all the time that they can detect it instantly and notify everyone in an instant. Try to understand that they are not bot. They already answered your support ticket that your fund is safe so why you still post this kind of topic. Try to go on Cryptopia ANN thread and you will see that waiting a 24hrs is nothing compared to that site and other exchange. Binance is the best exchange ATM.
Why am I posting it? Because I see that a lot of people, probably not knowing, that the deposit option is suspended (because Binance didn't notify anybody on their announcements section), continue sending deposits. And maybe somebody needs that money urgently, as I did. So, I want to warn them, so nobody could lose their money in the air. If you know how deposits are made on Steemit, you should know that it differs from the other crypto transactions. You should send your STEEM to an account (deepcrypto8) and he does the rest. Don't actually know what he's doing next, but I followed how he sent my assets with the assets of other users somewhere else before the deposit option was suspended. It lasted 5 hours from my deposit to the moment when the deposit option was blocked. They had more than enough time to transfer my STEEM to my Binance account. I am also a fan of Binance and support it. But I think they should at least warn people of such things beforehand, as they usually do. |
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I advise you to remain calm. This happens a lot. Especially on the exchanges where a lot of coins. I have a week no access dcr wallet on Bittrex. Wallet, too, was on great need of repair. But after that, everything opened and works. Binance is a reliable exchange. Now they want to make access to Fiat and they don't need scandals.
Thanks for your support! It's just worrying when your assets neither there, nor here. And I needed to exchange it urgently but now I have to wait, who knows how much time. |
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That is extremely unlucky, especially because you checked the wallet beforehand. Most people who have that problem did not check wallet prior. Every exchange is very backed up and I am sure they will process you soon as they can, even though "soon" for them is different than what it means to us. As for your coins, I would wait a few weeks before panicking I have seen big time wallets in maintenance mode for over 1 month.
Yeah, the thing is that I checked the deposit wallet multiple times before it was suspended and it was OK. But the funds still didn't come to my account. I just know the similar situation when other exchanges suspended STEEM wallet a couple of months ago and didn't reopen it till now. The thing is that I needed that money urgently, that's why I used Binance to exchange and withdraw considering that it is working smooth and fast. And the most irritating thing is that Binance doesn't warn its customers before suspending wallets, not a single word was said in the news and announcement section. But the reason I am sharing this info is that people on Steemit still go on sending deposits on Binance. And I would like to warn everybody to refrain from it while the problem is fixed, in order not to lose funds for an indeterminate time. |
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Hello to everybody!I would like to warn everybody involved in Steemit activities about the issues Binance is having with STEEM, in order not to get in the similar to my situation.Yesterday I decided to send my STEEM to Binance account in order to sell it and withdraw my earnings. I always use this exchange `cause I trust it. But depositing STEEM was my first experience, and it turned out to be the worst. Although I have an account on Poloniex, I was afraid to transfer my funds there because we all know existing issues of this cryptocurrency exchange. I needed to withdraw my funds fast, so I decided to use my favorite and reliable exchange - Binance. I did everything right. I found my Deposit Address and Deposit Memo in my Binance wallet, returned to Steemit and sent my funds in the right direction. Of course, I knew that transferring STEEM to external exchange is made manually and would take some time. That's why I patiently waited.  I'd waited for almost 3-4 hours but my STEEM still didn't appear on my Binance account. I kept waiting patiently. And what do I find after 5 hours of expectation? I enter my Binance account and amazedly see that t he option of STEEM deposit is unavailable, and the system notifies "Wallet Maintenance. Deposit suspend". And this news got me pretty nervous because such issues take a long time to be solved. If we take a look at HitBTC, after suspension of STEEM deposit and withdrawal, they never renewed it. The most irritating thing for me is that I transferred my funds long before the deposit was suspended. And also that Binance doesn't notify its clients of such suspension in advance. Moreover, they don't even include the information about it in their news section.
 After 10 hours of expectation, I wrote a letter to Binance support and received an answer soon that they are aware of this issue and are already working on its fixing as soon as possible. But who knows what that means. For them "soon" can be even a month. And for me, it is not even clear whether I'll receive my deposited funds or will never see it again. Thus, I would like to warn all the Steemians and those, who hold STEEM and want to exchange it on Binance, to be very careful sending their STEEM to this exchange and refuse to do it while the issue is solved. Hope, this information helps somebody to protect his assets. Be safe!Quick update: Today, 27 March 2018, the STEEM wallets were restored. My deposit was credited to my account immediately. Feel free to use your STEEM wallets, the issue is fixed.
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Binance has been so big and popular that a simple FUD about it could change the bitcoin price!
I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.
The good news is that Binance is currently developing a decentralized exchange, which was announced by its CEO. So, I think everything is going to be just fine with its future. |
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Yeah, this influence of Chinese authorities... with such politics they will lose the most promising businesses and huge revenues to the state treasury with it.
I hope, the favorable attitude of the European Union and its member states won't change. A lot of new startups and digital banks trying to solve the problem of crypto-fiat convertibility where launched there complying with the local regulations. It's an important issue nowadays that needs a solution in order to allow us to feel and experience the whole value of our crypto-assets.
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I think you shouldn't worry about the issues Binance has at the time. I'll tell you more, such issues usually are created in order to manipulate crypto-market and force people, who take all of this speculative news too seriously, panic and make mistakes. First of all, Binance's CEO has already decided to open a new office in Malta and its Prime-Minister welcomed his decision. To change jurisdiction for a business entity nowadays is not that difficult. Especially for Binance. As we know, Malta tries to become a "trailblazer" in the regulation of blockchain-based businesses. For that reason, the local government even launched the Malta Digital Innovation Authority in order to provide legal clarity for companies developing Blockchain technologies, cryptocurrencies, and ICOs. I think this country has a very favorable environment for companies like Binance. Secondly, Binance is a huge "whale" of crypto-world. And its reputation means for its founders more than anything. That is why they won't allow Binance's clients to suffer from their temporary issues. Even if the authorities of their current residence will impose a fine on them, they will pay it, and just change their residence. So, stay calm and don't worry about these political and business "games". It is nothing but just that. Everybody knew about Binance's business activities before and about its success but nobody told nothing until now. It means that Binance's activity didn't contradict the local legislation. And now the local authorities found something...accidentally...out of nowhere... It looks suspicious, doesn't it? And guess what do they do? They just send a warning. As a lawyer must tell you that all of this means nothing. They don't file a lawsuit in court or just shut down Binance's offices confiscating its software and servers. Warnings are sent in cases when the legislation enacted some new provisions and while not every business entity is still complying with the new regulations, authorities send these warnings to force them to align with these regulations. And it's just the ground for these two parties to start the dialogue. Only if Binance's leaders refuse to comply with the new requirements, they can become a subject to punishment and responsibility. But as we know, Binance is not refusing to do this and is currently holding negotiations with local regulative bodies. So, stop worrying and start thinking on how to earn some profit from this situation. For example, you could buy some BNB yesterday and make a nice profit today.   |
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It's a great news and I am thinking Binance, as one of the leading "players" in this sphere, is now doing important steps that the other exchanges will have to do in the future anyway if they want to have customers and remain in demand.
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The silliest thing is to give up education for "playing" Bitcoin. You always can do both. Bitcoin earnings won't last forever, and what are you going to do when it's over? Everything comes to an end. Just look at this: bounties today are not that beneficial as they were before because of the number of bounty hunters; trading changes, technologies evolving. Trading is the thing that you can do in your free time. Nothing is going to replace a good education. It is also your investment in your future.
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The worst trading experience for me took place at the end of January when I bought Verge for almost 0,10$. Everything seemed to predict its growth: the news, the future events planned for this coin and the several days of price fall. But exactly after my purchase of Verge, the market started a huge correction that lasted the whole week. Verge's price dumped to 0,056$. After the correction, all the coins started to recover to their initial prices but Verge was moving to slow. Already then I decided to sell as soon as it reaches the price for which I bought it. But the Verge never reached this price. After reaching 0,08$/XVG, started a new wave of correction, and after that one, a set of other corrections, and the Verge was devastated.
Now its price is approximately 0,031$-0,036$, and it can't grow higher. That is my worst investment so far. The only good thing is that I stick to my strategy and don't invest too much in a single coin.
So, beware guys, don't put everything in one asset. Better slower movement but the right moving forward.
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Ifthey don't have trading fee and they only charge for withdrawal fee then it is a good siteto exchage as it may have more chances to trade coin within that site, there are some exchanges that will charge trading fee that will cost a lot to trade. so if this site has less fees then it is good.
Problem is that the buyprice of a coin is always higher than the sellprice if you don't create the orders yourself. Though it may not charge Trading Fees for the exchange itself, you definitely "pay fees" through buying for a higher price and selling for a lower price. Of course, the absence of Trading Fees for the exchange itself lowers the difference between final buy/sell price. However, this difference is negligible, due to the huge differences between buy/sell price, unless you use exchanges & trading pairs with enormous volumes, but CobinHood isn't a a high-volume exchange: Its highest volume trading pair is ETH-BTC, with about 115k $$$, giving a difference between buy/sell orders of about 0.6% currently. Compare that to higher-volume exchanges that charge fees, but have lower sell/buy price differences, making your potential profits much higher. Therefore, it's stupid just to look at the exchange fees. --- As some others have already noticed, the exchange does charge some relatively high withdrawal fees. Thus, it's only worth it, if you have a reasonable amount of cryptos to trade with. However, due to CobinHood's low volume, you wouldn't be able to buy a lot without immediately driving up the price like crazy on the exchange. Thus, again, we'd prefer a high-volume exchange with lower withdrawal fees & lower buy/sell differences, than one without exchange fees. === Though I must say: Try it if you want... Given the volatility of Cryptos, these relatively small variations won't make the difference: The rollercoaster rides of the cryptos will. Hm...you made some very good points. Will take them into consideration. |
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Today I would like to hear thoughts of experienced traders on DigixDao? What do you think of this coin? Do you trade it or keep in your crypto portfolio?
Meanwhile, I would like to share my experience of trading DigixDao during recent continuous correction.
I have my own strategy of trading. I have two types of crypto assets: primary and secondary. In ordinary days, when the market is still, I am trading my primary assets but when comes the time of correction, I just stop trading, until the price of the coins returns to its average indicators. If this market situation lasts at least two days and the majority of the coins dumps significantly, I get my secondary assets involved. Especially for these occasions, I prepare my additional funds, which I keep either on my credit card or in USDT (Tether).
When the market experiences a huge correction, I try to find some interesting coins that dumped the most. Usually, I pick 1-2 coins from the top-10, if they have a very favorable price and 1-2 coins from the top-100 that have the highest decrease rates.
But recently I literally “fell in love” with DigixDao (DGD). It is a cryptocurrency backed by real gold stored at the warehouse in Singapore and has high demand while having a small amount of token supply (only 2 million DGD). Most of the traders try to avoid this coin because it has different from others nature and its circulation terms are not clearly understandable.
But for me, DGD represents everything that a valuable and strong currency has to be. It endorses a real and tangible asset and develops its own way. Despite other cryptocurrencies which are very dependable on Bitcoin and its behavior, DGD is more independent. And often, when Bitcoin falls and drags altcoins with it, DGD is showing growth. As an example, we can take the current market’s fall, during which almost no coin could turn back to its average price, whereas DGD did it almost thrice.
I noticed DigixDao at the beginning of February and witnessed how it from 216$ reached 560$ by the end of the month. High volatility of this coin definitely captured my attention. During the period of time, when I was following its changes, I defined DGD’s average price around 400$-440$ and decided to stick to that.
Thus, when the market hit the bottom for the first time I without any hesitations bought a couple of DGD for 300$ and sold them in a day for 375$, thus, making ~ 26% profit.
On 12 March the price of the DGD fell again and I bought it for 323$ and sold in three days for 400$, receiving 23% of profit.
And the last purchase of DGD I made 3-4 days ago. I bought several DGD for 295$ and sold it yesterday for 350$, making ~ 18% of profit.
Thus, during this continuous correction period I managed to increase my secondary assets by 67%. This income can cover possible losses of my primary assets, if some of the coins that invested in, won’t reach their average prices.
That’s the way I was trading during this huge market’s dump. And now DigixDao is one of my favorite promising coins in my trading strategy.
What do you think of DGD? Can it make x3-x10 this year?
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very good exchange. very fast and secure. and zero fees. i strongly recommend. i moved all of my portfolio to there
Finally, somebody who has the real experience of using it. Thanks for your response. Any problems with withdrawal? Is there ability exchange to fiat? nope. no problems on withdrawal. usdt/btc alsu supported. i withdraw btc, eth, and usdt in different times and all work perfectly and fast. ( i just waited for 1 day once for deposit eth, but it was early times of exchange. now there is no problem) OK. Thank you for being helpful! |
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very good exchange. very fast and secure. and zero fees. i strongly recommend. i moved all of my portfolio to there
Finally, somebody who has the real experience of using it. Thanks for your response. Any problems with withdrawal? Is there ability exchange to fiat? |
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No their fees are to high
You mean withdrawal fees? |
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