This movement first originated in Monero community. The reason is most centralised exchanges don’t allow you to withdraw XMR under fake technical reasons. Meanwhile, XMR deposits are always welcome and available.
Later, users of other cryptos recognised they can’t withdraw their funds due to fake power of liquidity. Although anonymous cryptos are affected first, some time other types of crypto were touched.
This insane situation is made possible because large centralised exchanges trend to have fake liquidity at all. That’s because their economical nature is to generate profit dependent on your buy/sell operations: no buy/sell leads to no profit.
And because crypto exchanges are not properly regulated as traditional asset exchanges, they practice to simply generate inexistent “paper” coins. You can easily trade these coins but if you try to withdraw them, you fail.
Most corrupt exchanges in that sense of “paper” coins are Binance, Huobi and Poloniex. Please don’t use that exchanges at all in the future and prepare to migrate from them.
On April 18 2022, just try to withdraw all your crypto from all centralised exchanges and hence check whether exchanges of your choice do trade “paper” coins or not. If so, you can’t withdraw. Blacklist that exchanges and broadcast them to all your friends in all social media.
It is extremely easy experiment, just perform your own test!
If you ask where to migrate from Binance, Huobi and Poloniex, consider the following list:
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
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