RE: I’m a Bittrex Hostage, What It Means For You
Oh wow, so sorry to hear they locked your account. When I first heard of accounts being frozen, I panicked and withdrew all my funds immediately. I had to sell off some altcoins at a loss that I was holding because I didn't have wallets (or didn't want to bother), so now most of it is in cold storage. I only keep my funds on exchanges for short periods of time now.. at least that is the intention. Hm.. good that you mention it, I probably should get my IOTA back off of Binance again just to be sure.
I am still using Bittrex though, because I am occassionally cashing some of my Steemit profits out and it's one of the few places where you can sell STEEM or SBD (SBD is trading at $9.50 each holy cow!). And with the high withdrawal fee, and since my cash outs aren't that significant, I kind of have to wait a while before it's worth withdrawing it to my private wallet.
I wish Binance would support STEEM. Then I would move and never look back...
although Binance annoyed me too, to be honest. It turns out if you have the Discount Trading with BNB turned on, but don't have BNB you actually pay the fees out of the crypto you bought. So if you buy 100, you only get 99.9 or so. HOWEVER.. Binance doesn't support fractional buying or selling in many pairs!! So I end up with 0.9 that I cannot sell... and I cannot buy 0.1 to make it a whole either. And Etherdelta isn't an option either with CryptoKitties clogging the network making transactions super expensive.
It's not like 1 RDN token is that much money, but still I'm kind of bugged out about this.
I'm signed up to about a dozen exchanges now so I have options. Recently bought Steem on HitBTC. I may still end up using Bittrex for STEEM and SBD if I ever can again. You kind of have to go with what works in crypto these days and be flexible.
Agree on Binance they need more info on exactly how those BNB fees work. I have some stranded coins as well. I'm hoping in the future they'll be some sort of feature where you can cash them out all at once.
I've been using EtherDelta more too. I think the whole cryptokitty thing is bullish for ETH overall.
Sorry to hear that. I had been trading on Bittrex for a few months, and then had a gut feeling in Nov. to take off my money off the exchange even though I am fully verified, and I trust my gut without needing confirmation on the outside. I'm not planning on going back there.
Oh yes definitely CryptoKitties is a good development, but I didn't realize the network was clogged up so much... so being used to low gas cost, I deposited some ETH on it with only 0.5 gwei. This did the trick in afew minutes before.. but now I fear I may have to wait a long, long time for those funds to arrive to Etherdelta. Resending it is pointless too because I'll end up sending it twice..
Great read overall! Thanks for sharing! Looking forward to hearing more of your thoughts on the crypto markets!
https://steemit.com/bitcoin/@college-is-dumb/bitcoin-crash-sunday-bitcoin-overpriced-investment-banks-manipulating-futures
Ouh, I keep noticing the same, if you do simple mistake in any of the exchanges, because of the huge demand, it's hard for them to reply and fix the issues. That's the growth challenge.
Thankfully yes, there are a lot of exchanges, keeping coins in cold storage or your own wallets always works.
I guess just a reminder to be careful and really great @g-dubs, that you were smart enough to put most in cold storage.
Good reminder for everyone else (including me) to be careful and watch the coins like a hawk :D
I also have 0.9 of a few coins on Binance . Well hopefully in a few years they will be worth thousands and I will happily exchange the 0.9 then .
Binance is better than Bittrex until it's not. As you said,you're safe to keep the funds on cold storage if you're not trading them , otherwise no place is safe at this time.