Crypto Currencies ~ " Duck Tales Spin From The Crypt"

No, there was a misunderstanding. Binance is fine

 

And for anyone interested in getting into Binance, here is my referral link : https://www.binance.com/?ref=12507698

 

10-4
As far as BTX. Where are you guys getting it on? Not in binance

 

I got that and XRP on gate.io.

 

It is not, nor is it available on Bittrex

 

BTX or BCX? what is the name of it

It is going up!

 

I am going to chunk some cash into TRON.

 

once you have the app downloaded to your phone you go to the "Holdings" tab and "Add Transaction". That is were you input the price you bought at and how much.

 

let me get this right, I can only Trade in Binance with ETH?

 

No. There are trading pairs with BTC, ETH, BNB, USDT

 

This I like

 

I don't have gate.io but I might get into it if you guys are right about this BCX.

Any insight on it?

 

BTW, DYOR is exactly what I am doing with binance. It's the same thing I did with coinbase/gdax. I tried playing with small amounts to see how everything worked and to prove to myself that it worked according to my understanding. Websites, and the people who write them, can and do lie or decieve. As far as I'm concerned, until I've put money on an exchange, bought/sold/traded whatever, and successfully pulled it back off in USD to an actual bank account where I can spend it, as far as I know that money is gone forever.
That line of thinking is reflected in several of the questions I asked previously in this thread.
I would call this practical research as opposed to theoretical research. Like I also said, I felt compelled to share the extremely negative results of my practical research with the others on this thread.
To my knowledge, unless I missed it in here somewhere, no one has completed the circuit from USD to binance and back to USD and reported their findings. My research revealed that it is impractical to do this with smaller dollar amounts as you'll take relatively huge losses.

 

Why would you do small amounts though? I understand it was in your testing but if the end game is to have hefty amounts of coin to withdrawal, the fee being a few bucks then I don't see the problem.

 

Because I don't trust that I'll ever see any of that money again. Until I successfully complete the circuit all the way back to USD under my control, the whole thing could be a giant scam for all I know. With the fees binance is charging, they've got to be raking in money. People are going to have to see a really really significant appreciation in their holdings AND be able to retrieve them from the exchange for any of this to make any sense. I hope that happens but I'm not going to risk anything more on it.

 

I feel like you and I got off on the wrong foot somewhere somehow. I am not here to criticize you or anything like that. Like I said in a previous post, I chose your post regarding your frustrations with Binance to use as a platform to make a point about the importance of DYOR for EVERYONE. It wasn't an indictment of you. People pay attention to negative experiences very closely which is why I was trying to piggyback off of that while everyone was at full attention.

There are many many people on here who aren't doing their research and who are just blindly doing what someone else on here is doing or told them to do. I will do anything in my power to try and eliminate that mindset because I want the TW fam to succeed and to do it in a safe way. Your practical research will undoubtedly prove massively valuable to that cause and I hope that you continue to update us with your findings including which exchange you ultimately end up using that works for someone like yourself with lower trade amounts/volume. My methods may not make me very many friends and if that means that everyone on here hates my guts, but doesn't get burned I can live with that.

The only exception I took with your post about your frustrations with Binance was the misinformation contained therein. When you were saying that withdrawals were 15% or whatever that just simply wasn't accurate. The fee was only so high in your specific case because of how little you were transferring. In reality Binance uses flat fees on their withdrawals, so I had to include the accurate info in my response. I hope you can understand where I was coming from. I will continue to correct any misinformation I see on posts in this thread and my hope is that people will come to respect what I am trying to do rather than hate me for it, but it is what it is.

 

I understand for your test. But in the end, if you are are up say $500 in profit, the fees won't make a difference.

 

Dont forget that every time a withdrawal occurs from an exchange to be deposited in another exchange you have to pay the miners of the particular coin to do the computational work to validate the transaction. Without them all of crypto will fall apart. Not all of the withdrawal fee goes into a particular exchanges pocket, although I'm sure they arent doing it for free.

 

That's true.
And if you can't get your funds back out in to USD that you can pay your mortgage with, then the $500 profit won't make a difference either.
I sincerely hope that doesn't happen to any of us.

 

Same here! Glad you have given it thought