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I love binance, but it kinda wrecked me with a withdrawal

I love binance, but it kinda wrecked me with a withdrawal


Cryptocoins Exchanges / Binance 41 Views

Just tried to send my ONE to kucoin and sell that insane price difference about half an hour ago. My transaction has been processing for over an hour. The TX id doesn't even up show on the harmony explorer. I sent ONE from another exchange and the harmony wallet, to kucoin with no problems.

I don't want to believe conspiracies such as the RLC incident(widely believed Binance closed withdrawals and dumped RLC on other exchange to even the price). CEX can be great and Binance generally is, but this is insane.

Tinfoil hat on, if they did happen to close withdrawals to dump on kucoin, they made a 15% profit due to the price difference. It wrecked me and price tanked. I don't care if they dump on exchanges to make a profit, but I'm still pending man and have no access to mitigate any risk.

Of course arbitrage selling has risks and I took them so ultimately it is my fault. I'm not that angry with binance but the timing seems too perfect considering I arb all the time with generally no problems.

I guess this is a word of warning to be careful. CEX and Binance are great but don't trust them to handle time sensitive transactions. Not your keys, not your coins.

submitted by /u/TillInitial
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