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1  Economy / Trading Discussion / Re: BINANCE sell fractions on: April 08, 2018, 10:45:01 PM
I'm not sure why so many of you all are defending this exchange here. This sure smells like a scam to me. Almost like office space where they try to steal all of the fractions of pennies...Binance has the lowest fees at just 0.1% but the amount of currency that will remain in their wallets forever will certainly add up over time due to this...bug?

Let me explain what this is not. Traders are not getting orders rejected because the order size is below minimum. (Example: purchase 48.869 AMB on AMB-BTC. Next set a limit order for the same quantity at a higher price? Nope. Exchange will only allow integer quantities in the order; I place the order for 48. I shall remain the proud owner of 0.869 AMB for life (btw, way less than the minimum required to withdraw...so).

So the conspiracy theorist might say that these fractions of coins are being stolen. Even if for the next 20 years I keep a balance of 0.869 AMB on Binance, there is very little in the way of proof that the exchange is holding 0.869 on the AMB blockchain on my behalf. The exchange will know just how unlikely it is that I will ever be able to sell this tiny amount of AMB. So why wouldn't they wholesale it? It is fully possible (in my mind) that the exchange has profited from my trade. (Btw, 0.869 is 1.8% of 48. So the 0.1% fee I paid for this coin is nothing compared to this value loss.)

I would really like Binance if it was not for this problem. Hopefully this is not a scam and just a bug that needs to be fixed. But it's aggravating to see how many people on this thread are minimizing the magnitude of the problem or blaming the users. This is definitely an issue with the exchange that must be resolved.
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