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I burned my hands with 0% interest vouchers from Binance

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by COINS NEWS 59 Views

My experience: I've availed of Binance's 0% interest voucher for cross margin and I've failed to gain any meaningful profits at all from it.

I've used this offer three times (the third time using BUSD, but the offer and the pattern was still the same). The first two times, I was cautious because, you know, margin is dangerous. The third time, I was full of hopium and leveraged myself into a position that I had to hold for six weeks (five more than the voucher was valid for) just to break even. There were times when I almost got liquidated, but I didn't borrow the max amount, luckily.

Not worth losing sleep over!

Since then, I've seen the offer three more times, but I had a feeling that it wouldn't go well. I was right. Without failure, the same thing happened every time:

It starts when BTC jumps to a local high. Binance offers users a week of 0% interest USDT or BUSD on margin, and then BTC plummets to a level where it will crab for a long while. It's almost like somebody is manipulating the market.

I didn't believe it, but now I do: The people running Binance are smarter than I

Discussion: Do you believe that these vouchers are connected to forces that manipulate the market?

submitted by /u/LrnFaroeseWthBergur
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