Topic: Bought without thinking on binance. Big mistake? (Read 148 times)
Thats what happens when you buy some small coins on these exchanges. You got to see the transaction fees more often to see if thats affordable to withdraw or keep it in the exchange itself (though its a bad idea). Hope that two coins pay you more in future.
Well, maybe you made a good mistake as Po.et and enjin are very promising projects. Next year, you may be very happy about making this mistake.
25% of losing is simply meaningless in translation. The best option is to keep coins on the exchange. And sell in a year or as you want.
If I'm not wrong Bitcoin withdrawal fee may not be that high like 25% so you can keep those coins for a while and if you make a decent profit then immediately sell them for Bitcoins and then try to withdraw. In hitbtc also same issue for some of the altcoins and found that their BTC withdrawal fee not so high.
I've found that true on many exchanges its fun when you can find a deal. Sometimes the markets are alt coins.
Mistakes suck and even veteran traders make errors. As others have mentioned you can keep the coins on the exchange and if/when they grow in value then take profit. Th great thing about your situation is that you have noticed the mistake which means you can learn from it and grow into a better crypto trader. Every single one of us has an oh F, that was a bad move moment. They key is to have a plan going in, do the leg work before you move on an asset. This is where you'll catch things like this before hand.
If you fail to prepare, prepare to fail! It's so true. Plan your trades and stick to them. Good luck!
If you fail to prepare, prepare to fail! It's so true. Plan your trades and stick to them. Good luck!
25% of losing is simply meaningless in translation. The best option is to keep coins on the exchange. And sell in a year or as you want.
If I'm not wrong Bitcoin withdrawal fee may not be that high like 25% so you can keep those coins for a while and if you make a decent profit then immediately sell them for Bitcoins and then try to withdraw. In hitbtc also same issue for some of the altcoins and found that their BTC withdrawal fee not so high.
25% of losing is simply meaningless in translation. The best option is to keep coins on the exchange. And sell in a year or as you want.
worst idea ever!
not just because altcoins (specially coins like Ripple that OP is talking about) are super pumped and were in a bubble (again specially by the time the topic was started) and buying the bubble and hoping for profit is a terrible thing. and when it comes to long term altcoins have nothing to say.
but also because keeping coins on exchanges is a risky move because you can simply lose ALL of your money. even if the exchange is seemingly trusted. bittrex stole a lot of money recently and they were trusted prior to this robbery!
Good evening guys. I'm inside the crypto market for a month now, but a ridden more than a month tech and all the other infos previously.
I did my first buy on cex.io for xrp at 70cent, and later ada and stellar transfering eth from coinbase to binance as usual.
In the last week I took some deep looks over different projects to choose something cheap but with a good potential for the future, to hodl for an year or more.
I choose to buy some po.et, eth lend and enjin coins.
But, 'cuase I'm a noob, I didn't take a look to the fee transferts from binance.
I bought just one hundred euros of those coins, but I only seen later that, for example, the fee to transfert my 200 poe coins it's of 50 poe.
Clearly I bought without reading enough before. Now, there is some solution or I must keep my cheap coins on binance 'till the sale?
I did my first buy on cex.io for xrp at 70cent, and later ada and stellar transfering eth from coinbase to binance as usual.
In the last week I took some deep looks over different projects to choose something cheap but with a good potential for the future, to hodl for an year or more.
I choose to buy some po.et, eth lend and enjin coins.
But, 'cuase I'm a noob, I didn't take a look to the fee transferts from binance.
I bought just one hundred euros of those coins, but I only seen later that, for example, the fee to transfert my 200 poe coins it's of 50 poe.
Clearly I bought without reading enough before. Now, there is some solution or I must keep my cheap coins on binance 'till the sale?
It's okay. I also did commit some stupid mistakes when I'm still new. It's good that you are aware that it's wrong and stupid but now you know what is the right thing to do.
If you think that those coins can raise more in the future then don't withdraw instead just keep them on exchange and sell when prices go up more means you should sell higher than 25% of current price then you can make some profit. If not, you will lose money for withdrawing now and later sending back to exchange for selling.
Even Hitbtc also got a lot of fees to withdraw these coins. I find bittrex fee is more reasonable for withdrawing any coins.
Even Hitbtc also got a lot of fees to withdraw these coins. I find bittrex fee is more reasonable for withdrawing any coins.
25% of losing is simply meaningless in translation. The best option is to keep coins on the exchange. And sell in a year or as you want.
Good evening guys. I'm inside the crypto market for a month now, but a ridden more than a month tech and all the other infos previously.
I did my first buy on cex.io for xrp at 70cent, and later ada and stellar transfering eth from coinbase to binance as usual.
In the last week I took some deep looks over different projects to choose something cheap but with a good potential for the future, to hodl for an year or more.
I choose to buy some po.et, eth lend and enjin coins.
But, 'cuase I'm a noob, I didn't take a look to the fee transferts from binance.
I bought just one hundred euros of those coins, but I only seen later that, for example, the fee to transfert my 200 poe coins it's of 50 poe.
Clearly I bought without reading enough before. Now, there is some solution or I must keep my cheap coins on binance 'till the sale?
You made a mistake not going through the T/C before trading on it, but that's just to leave. You've to Keep HODLing your coins till they become of good value then you've nothing to worry about the Tx fee. HODL I did my first buy on cex.io for xrp at 70cent, and later ada and stellar transfering eth from coinbase to binance as usual.
In the last week I took some deep looks over different projects to choose something cheap but with a good potential for the future, to hodl for an year or more.
I choose to buy some po.et, eth lend and enjin coins.
But, 'cuase I'm a noob, I didn't take a look to the fee transferts from binance.
I bought just one hundred euros of those coins, but I only seen later that, for example, the fee to transfert my 200 poe coins it's of 50 poe.
Clearly I bought without reading enough before. Now, there is some solution or I must keep my cheap coins on binance 'till the sale?
Good evening guys. I'm inside the crypto market for a month now, but a ridden more than a month tech and all the other infos previously.
I did my first buy on cex.io for xrp at 70cent, and later ada and stellar transfering eth from coinbase to binance as usual.
In the last week I took some deep looks over different projects to choose something cheap but with a good potential for the future, to hodl for an year or more.
I choose to buy some po.et, eth lend and enjin coins.
But, 'cuase I'm a noob, I didn't take a look to the fee transferts from binance.
I bought just one hundred euros of those coins, but I only seen later that, for example, the fee to transfert my 200 poe coins it's of 50 poe.
Clearly I bought without reading enough before. Now, there is some solution or I must keep my cheap coins on binance 'till the sale?
I did my first buy on cex.io for xrp at 70cent, and later ada and stellar transfering eth from coinbase to binance as usual.
In the last week I took some deep looks over different projects to choose something cheap but with a good potential for the future, to hodl for an year or more.
I choose to buy some po.et, eth lend and enjin coins.
But, 'cuase I'm a noob, I didn't take a look to the fee transferts from binance.
I bought just one hundred euros of those coins, but I only seen later that, for example, the fee to transfert my 200 poe coins it's of 50 poe.
Clearly I bought without reading enough before. Now, there is some solution or I must keep my cheap coins on binance 'till the sale?
Jump to: