Lies in the world

[Oshosondy]

Is it very disappointing that the world is full of lies, some of the lies are from the government saying this and that all because of their own favor. We need to be careful of anywhere we are today, think very well before doing something. I would have created this thread on trading discussion but I am thinking newbies may not be visiting the board very often like beginners and help.

Binance sent me a message yesterday, this was the message:




Even spot day traders are losing, I do not know why I am losing in future (3x leverage) trading and binance is sending users message about margin trading (3x to 10x leverage depending on it being isolated or cross). The more the leverage the higher the risk.

This was what happened. I login on my binance account on new mobile device and everything was as if it were new, then I got the message the following day about margin trading which I know is riskier than spot (trading with no leverage) trading. This is the message that will all be sent to newbies.

You should know that binance is a custodial exchanges, not your key not your coin. I only used it to trade. Be careful of what organisations are sending you, they are not helping you, they are only looking for money even if you will have to lose. I was curious why binance is sending messages related to future (yes, I got the message also few months ago and a user also created a thread about it on trading discussion some days after I got the message) and margin trading, I later have to know it is a ways they make more profit from leverage trading fee, but most traders are losing. Even if you want to trade, better try spot and use the amount of money you can afford to lose, most traders are losing.

[Findingnemo]

This is just a promotion from my point of view so I won't blame binance for doing promotions about what they have in their platform, Margin trading is nothing but trading without the money we own so we are putting more risk which should be realized by the trader because for the exchange they will concentrate on their revenue and that is the ultimate goal of every company.

[tranthidung]

Leverage trading is for professional traders because most of traders have loses, not profit by trading. If they have loses, they will have bigger ones by using leverage.

Even you learn a leverage trading course from a professional trader who really earn lots of profit from Leverage tradings, you probably won't be able to practice it so well. However, your loses are not because what you learn is wrong, it is just only you can not practice and control your emotion so well.

[Oshosondy]

This is just a promotion from my point of view so I won't blame binance for doing promotions about what they have in their platform,

That is what I am saying too, people do not care if you lose, the promotion is for binance to make profit when binance know that most traders are losing according to what they have sent me before. Many newbies will join to lose and binance will make profit if the newbies lose or gain.

Leverage trading is for professional traders because most of traders have loses, not profit by trading. If they have loses, they will have bigger ones by using leverage.

Holders are the ones that are gaining most of it. Some leverage traders use amount that can manipulate the market, others follow their direction and they close position for the market to go other way.

Leverage is not risky if the market is not that volatile, but if volatile, money can be liquidated. The market will surely be very volatile.

However, your loses are not because what you learn is wrong, it is just only you can not practice and control your emotion so well.

Not emotion is what is affecting me. What is affecting me is greed. If I earn little, I should be okay with it but I will want to earn more. It is also good to reduce the leverage.

[WePiggy]

Kucoin does this as well, they even send you free USDT to tempt you into leverage trading! Any trading is risky, but leverage is for whales who can afford to lose and not be too bothered about it. Would be good if they mentioned that this is more for experienced traders but that is unlikely to happen

[DdmrDdmr]

I wouldn’t exactly call it a lie ("can" is true, "will" wouldn’t be), but an oversimplified message to draw attention towards what they are offering (margin trading). I don’t know where the "view more" link leads you too, but I assume it’s somewhere in the lines of this: https://www.binance.com/en/margin-trading. There, margin trading is explained in greater depth, provided one bothers to read all there is to read on the webpage (TOS included), as opposed to skimming through and going into action.

Now for those who lack the willpower to read things through thoroughly, and to think things through above all, the message is enticing enough to push a positive imprint into the reader’s mind, which is what publicity tends to do in general. Some sectors though are forced to include some (very small) fine print in their adds, in order to warn of the associated risks. I’d expect to see that coming to the crypto industry as time goes by and regulation/supervision steps in to the way things are/should be publicized.

[pawanjain]

By looking at the screenshot it looks quite clear that it is just a promotional mail from binance. Not only you but everybody gets it.
Also, if binance is sending you promotional mails about futures trading doesn't mean you actually have to do it.
Yes it's true that binance makes a lot more profits from their leveraged trading because most of the people lose money in leverage and get their funds liquidated.
Even I have got my funds liquidated 3-4 times which is why I stopped it. We can't call it a lie because there are people who also make good profits from it.
It all depends on how good we are at crypto trading.

[Mpamaegbu]

OP, there's nothing wrong with the mails you got from Binance. It's promotional and every business running new products always find ways to advertise them. There's nothing unethical about that. For the fact that you're scared of margin trading doesn't mean there aren't traders who make a kill from trading it over spot trading. Profitable margin traders will be glad to click such links to find out what new stuff Binance is offering. Don't see it as lies, companies like blowing up their little advantages over the downtown they give.

[Falconer]

Is it very disappointing that the world is full of lies, some of the lies are from the government saying this and that all because of their own favor.

True, that is something very disappointing. But I don't have to worry too much about that because in the end every individual will be held accountable for their actions (if they believe in god).

The most annoying thing is that the government does not want to accept criticism even though all the criticisms are true. The lies seem very real but when someone criticizes them then jail is the consequence. This is the situation that happened in my country, maybe you also agree that freedom of speech is a natural thing for a democracy but not many people dare to speak the truth and criticize the government because they are afraid of the consequences. But I believe this has nothing to do with your thread.

About the lies in the crypto space, I think it's something that most people already know. There have been many cases against crypto users where they didn't really manage to detect scammers trying to get their hands on their money. Phishing via email is one of them, but I have a habit that maybe you can practice when registering on an exchange or other service platform, namely using a new email whose password must be different from every other important account you have. This is a precaution to increase your security against phishing via email and I've been doing it regularly so far.

[pieppiep]

If you do not have the right skills in trading, you better not try leverage trading because that will be riskier than spot trading and if you lose, you can lose so big and it is hard to recover your loss even if you add more funds to your leverage trading balance. Even if you are an experienced trader, it is still not easy to trade using leverage trading. The exchange know how to use the greediness from traders, most of them want to make a bigger profit but they do not realize the risk.

[stompix]

~Lies in the world~

Where is the lie?

Do you know margin trading can
~ to attempt to amplify ~

They don't say get into margin trading and you will earn for sure, they don't promise % gain overnight they are clearly saying you can try to gain more, and a lot do, with a lot losing too. It's a normal advert, what would you want from them, it's a business and they need customers, how many customers would they attract by sending mails with "do not margin trade" ?

Even spot day traders are losing,

Yet this forum is filled with poeple saying that trading is a source of income and is better than holding, poeple who claim that by trading they have managed to become independent and so on and on..
So, does this mean the forum is also full of liars? 

[sunsilk]

I think they've put the right term of what margin trading is and that's about 'betting'. I guess those newbies would be seeing that clue that margin trading is literally a gamble.

A promo that would want other users to try them with that feature. But I agree that the newbies that will receive the email might go in that promo without understanding it since they might just look at "amplify your profits".

[TheNineClub]

The name of the game is to be cautious of everything and everyone. I don't think it should be a zero trust mentality, but everyone should be here with and open heart and a cautious mind, because, unfortunatelly, people will be people. Crypto could beba wonderfull place, but we not there yet.

[Stalker22]

Yes, there are many lies in this world. So it is up to each of us to make the right choices. We all have to decide for ourselves if the right choice is to stay with the truth or look for someone to just tell us what we want to hear. However, I do not see any lies in this email. It is merely a way of marketing promotion. It is up to you whether you accept it or not.

[Trojane]

I keep asking myself one question every single time I find perplexities like these 
   ain't these peeps doing this just like a normal business? If yes' then what makes you think profit shouldn't be made?
They'd wanna make profits to pay promoters and the company as well. You're receiving mails from binance right? It's called "Ad" (advert) kind of,well that's not even the point here.
 Any trader will always prepare to loose coins and the are no two ways bout it bud,you loose for the company to earn; you'll keep earning few bucks but the day your greed leads you down the wrong track, YOU MUST LOOSE!!

[Oshosondy]

Where is the lie?

No detailed information, the information is only about how to make more profit, nothing like how it is riskier. The message will also be sent to other binance users which can make them to try and lose more.

Yet this forum is filled with poeple saying that trading is a source of income and is better than holding, poeple who claim that by trading they have managed to become independent and so on and on..

This is a forum, it is different from binance. People that are saying trading is profitable on this forum also speaks of the risks but not only the profit.

Binance know most traders are losing, they have it in their stat, the most traders are the leverage traders. All they know is their pocket even if new people that just registered on their site is losing.

[dbc23]

This is just a promotion from my point of view so I won't blame binance for doing promotions about what they have in their platform, Margin trading is nothing but trading without the money we own so we are putting more risk which should be realized by the trader because for the exchange they will concentrate on their revenue and that is the ultimate goal of every company.

Some promotion could be misleading as newbie with little or no experience will dive into either margin, spot or future trading hoping to get good return and end up draining down their trading wallets. If such adverts should be considered then the risk involved should also be stated so it becomes clair the have the interest of their investors at heart not just considering how the intend engaging people in a risky adventure

[Findingnemo]

This is just a promotion from my point of view so I won't blame binance for doing promotions about what they have in their platform, Margin trading is nothing but trading without the money we own so we are putting more risk which should be realized by the trader because for the exchange they will concentrate on their revenue and that is the ultimate goal of every company.

Some promotion could be misleading as newbie with little or no experience will dive into either margin, spot or future trading hoping to get good return and end up draining down their trading wallets. If such adverts should be considered then the risk involved should also be stated so it becomes clair the have the interest of their investors at heart not just considering how the intend engaging people in a risky adventure

So who is making the mistake? I won't say they're lying but if a naive newbie got attracted by the words and his greed gets kicked on so he is driving into the margin trading without actually knowing what it is then he has to face whatever the results comes.

[Anguwa]

Kucoin does this as well, they even send you free USDT to tempt you into leverage trading! Any trading is risky, but leverage is for whales who can afford to lose and not be too bothered about it. Would be good if they mentioned that this is more for experienced traders but that is unlikely to happen

Yes oo, I also received such reward from KuCoin telling me to go into trading, but sometimes they will tell you to into it and person will end up loosing his/her entire assets. Also some project promoters also lie so that the project they promoting will get good investors, and after a while they will display there real color living almost all investors in loosing there investment

[GeorgeJohn]

From my observation the probability of getting straight line information is very difficult currently, let us not capitalize in government only because this lies is versatile or generally in which i know vividly that it extend to the grassroots, even investor forbid to portray the truth that will lead another to huge profit to cryptocurrency, in some extent i can't blame people who adventure into false information because some elements of people benefit through fake and false information from different domination.