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Author Topic: Let's be more careful with local exchanges.  (Read 223 times)
Mr.suevie
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March 23, 2024, 05:25:17 PM
 #21

True man, we got to be extra careful in dealing with  these other exchanges, Binamce provided a comfortable and soft landing for us in terms of crypto activities and the feds snatched it away from us.

I'll add to your suggestions the need for users to look out for minimum deposit as stipulated by the exchange, if there's a minimum deposit, ensure that your deposit is more than that, else the exchange will not credit your funds lost. I experienced it with Kucoin and lost my $10 dollar
Oh! so am not alone on this thought? As I read your post it just made me furious because of the funds in which I lost to same kucoin exchange and this happened because of the comfort one had with binance knowing that the minimum withdrawal is so small and efficient that almost every Bitcoin that you would send to the address would be credited on just two confirmation of the transaction. The need for everyone to check for minimum withdrawal is vital and very very important because there are some exchanges in which minimum deposit and withdrawals can be so big even beyond your thoughts.

R


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Zigabel
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March 23, 2024, 06:09:17 PM
 #22

Except for local exchange that has got apps on our app store a and Also credible platforms where disputes could be resolved, it's not healthy to transact with such exchanges they were advertised on WhatsApp or probably Instagram pages and they don't have a proper platform for their transactions that has got a form of accountability to beacon on. If the exchange is runnes by someone you know personally or have a direct Link on how to track such person in case the needs arises then don't transact with any exchange which doesn't have any of this for you to be able to reach them.

Me I no dey ever try am say I dey go trade my coin for all dis local exchange wey dey WhatsApp status dey say sweet rate and all other trash because I know say most of them na scam and dem no dey pay, some sef na d same binnace and all these exchange thenm wey them dey use too so no need to say make we dey use dem just learn how to use d legit exchange make you dey trade your coins by ursef .

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