The SBD ($23.50) Market on CoinMarketCap is Out of Whack Due to HitBTC.
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I Woke Up with a Smile Because It Appeared SBD's Were Doing a Moon Shot.
The Reality!
The Reason The Price is so High is Because of the Trading on HitBTC.
Currently the price is .003 BTC or $23.50 but don't get excited yet. Unless you already had your SBD's on HitBTC you won't be able to participate in the pump. The wallet deposit and withdrawal feature is under maintenance.
Now Get Back to Work.
Maybe HitBTC Uses This as a Ploy to Get New Signups!
Imagine for a second you are HitBTC and you want new account signups. Run an ad or pump a low volume coin and disable the wallet? Hmm, pump a low volume coin for a few BTC and every Steem user will come running. Either way I don't like HitBTC and their tactics.
Interesting
DO NOT USE HITBTC.
I've used it in the past to take advantage of arb opportunities, but it just has too many issues:
Deposit fees
Not only do they deduct withdrawal fees, but also for depositing certain coins. And they're huge, IIRC I was paying 14 VEN to deposit there (which was something like $80 at the time, which I was only willing to pay because the arb was really really good)
Can only trade in incremental amounts
When I was trading VEN, I could only buy/sell 10 at a time, meaning sometimes I would be left with a small amount of them in my account, and withdrawing didn't make sense because the withdrawal fee was >10 VEN.
Withdrawal issues
When I finally went to withdraw my balance, I couldn't cash out BTC, so I traded it for BCH (they somehow have a large BCH/BTC market), but couldn't withdraw that either, so I exchanged it all for ETH (which may have taken two trades, I can't recall if they have a BCH/ETH market) and was finally able to withdraw. Naturally support didn't respond til a week later.
Add on top of this low liquidity, other troubles with withdrawing (sometimes they freeze certain coin wallets for indefinite amounts of time), and slow support response, and you have an exchange I'll never use again.
Hahahahaha same position is with me when i check the rate at coinmarket app. I am much excited to see the position of SBD which is going to moon but i think crossing the moon. but soon i realize that it is artificially pulled due to trading on HitBTC. but all the wallets are freezed. so dont be so excited. thanks @hilarski for updating.
Hahaha it's a joke
Yeah it has been like that for the last few days
I had thought I made a million bucks lol
You and me both. Was good for a chuckle anyway
lol, wish this was the current price everywhere. Imagine how much Steemit would explode if that were the case?
Prolly just be more bots actually now that I think about...
It even shows this price on busy.org.
Those days will hopefully come for all of us :)
Really great price offer
Expect to achieve a distinct profit
Great article
I think Bittrex is the best as they exchange almost all cryptocurrencies at good rates.
That's happening from the last four days who will do that hahah but that smile even i had that lol