Topic: Exchangers delisting but with too short notice (Read 210 times)

This is why people should really be that mindful on where their coins been leaving at or been storing.If they are really that aiming for long term then it would really be never recommendable for you to make use of

exchange platforms as for your main wallet.We do know the risk and we arent that dumb and blind on what are the probabilities and speaking about delisting then it is really been announced and if you do

know that you do have some coins on said platform then it would really be just sensible that you should be attentive for whatever delisting news that would come up.
Most exchange would really be giving out dates or ample time for you to pull off those coins, there's no way that you could make out that complaints on being too short.

Those centralized exchange didn't even ask anyone to leave their coins on their exchange lol, so it's your risk why you're want to leave your coins on centralized exchange. Let's say you're hold your coins on the wallet, when you want to trade the coins, you will use it for around ten minutes to sell and convert it to other coins or fiat. So it's not affect to me when the centralized exchange want to delist the coin, is there any exchange delist a coin with just 10 minute notice? Nope.

If an exchange delists a coin, it is very likely because there is not much interest from users or maybe due to some problems with the coin or it just turned out to be a way too shittycoin. I doubt the notices are too short. They usually let users know at least a week before they actually delist the coin. After delisting you still have the withdrawal window were you can withdraw to an external wallet. If you miss that window/withdrawal period, you can still contact support and manually withdraw your coins. So I don't see any problem here.

Binance or other exchanges delisting some currencies, and this is to protect users from the sharp price fluctuations of these currencies, and this may be due to the fact that the currency collapsed, failed, or something happened by its team that led to a sharp drop in its price, so not all currencies listed on the top exchanges good for long-term investment, we have to conduct our own research, and it is good that the platforms constantly publish announcements about the currencies that will be newly listed and the currencies that will be delisted, so we have to take care of viewing these announcements and emails until we catch the opportunity to sell them or send them to another exchange platform.

I don't know why you would for long-term investment/ or DCA on a such token when even the platform that created the tokens is not recommending to hold for long term.

Link to the article

So instead of buying these leverage tokens, you should buy bitcoin in spot and transfer it to your wallet. This way you won't  have to trust binance and you won't be troubled if it ends up like FTX exchange.

Another reason why I don’t think they give more time when delisting is because it won’t really make a difference in terms of price.

Usually if a token has one exchange, as soon as the public hears of a delisting from an exchange, many will abandon that token.

So whether it’s delisted in 24 hours or 24 days it will lose most of its value in the first 24 hours anyways.

I get to see the delist announcement most times from Binance at a certain group in my local. They've hired someone to do that and that's why it's not short notice on my end.
But, if you're someone who likes collecting a lot of altcoins and you think that they might get delisted from Binance, it's better for you to have the initiative to check their updates and announcements about delisting at most times. It's easy to know about that so that you'll be able to withdraw those shitcoins that you've got in them.

And this is the main problem with all of this, you think Binance is doing this with too short of a notice, but if this is on their TOS and they are following it then you have no recourse to be mad as you accepted this behavior out of them, and since this is most likely the case then you need to do what you can to protect yourself, and investing all your savings at a single exchange and in coins like that will produce those negative results, so potential traders need to learn how to manage their money if they do not want this to keep happening to them.

Exchanges delist only when there is not enough volume or something with the token went wrong in the near past, only investing on shitcoins based on DCA can't really be a strategy. And if someone invest their life-saving on a shitcoin with long term leverage then its almost similar to throwing away all your money on the streets so don't ever do that mistake.

Leverage trading itself a big risky move so people should only consider a part of their portfolio value into it not the entire thing.

Leverage tokens were never meant to be used as long term holds, especially the 3x ones. The leverage 1x or hedge tokens are fine to hold long term but what is the point, you can just use margin or derivatives exchange.

Only good thing I can think of is that you could withdraw them, so you could short BTC and withdraw the token, you can't do this with margin or derivatives. However I think they were delisted because nobody really was using them, no volume.

If you think they do it to harm the interests of users then withdraw assets to your non-custodial wallet, don't use centralized exchanges anymore. When entering the market as well as investing in a project, it is better to make yourself a habit of updating the news related to what you are investing in. I think that's better for you, not necessarily bad.
Binance's recent delisting of a lot of trading pairs and I also just received notice that they will delist Serum a few hours ago, which shows the risk of investing in altcoins at this time.

I wouldn't want to castigate Binance for its action on delisting certain tokens because I don't know how long that warning was out for people to withdraw to private wallet or transfer out. I know I've held two different tokens on Binance whose teams went rogue and trading was stopped on them since last year. Yet they remained. I had long expected that they would be delisted one day. It even took long for Binance to delist them. I've no grouse with Binance on that action. Shittokens are what they're. They should be flushed down the toilets.

Here is the problem.

You just don't DCA shitcoins. Shitcoins are only  good for short term speculation, hit and run, get rich (or poor) quick, pump and dump.

Even the exchanges don't have the stomach to list them for years, why would you DCA them? It was a fail strategy from the start.

Only DCA big coins like ETH and BTC.

That's why you don't need to buy coins that don't have a clear project. You already know that several coins are already popular and are the choice of many traders or investors, such as bitcoin, ethereum, bnb to buy. So you don't have to take the risk of buying those coins that are not clear because of the occasional delisting from the exchange. We can't blame the exchange for why they didn't tell us the delisting time. But as far as I know, when an exchange wants to delist the coins, they will notify all members and give them time to withdraw and transfer the coins to another exchange. So even though it seems like only a short amount of time, the members can immediately withdraw the coins to other wallets. Actually, this is a risk that we have to face when we invest in crypto and we have to know about it.

Almost all the time exchanges delist shitcoins and shittokens that have a very low volume indicating very little user interest. If someone has been buying these shitcoins, it is their own fault for buying garbage that nobody else wanted.

Well that's one of the problems with centralization. They can do whatever they want and change any rule they want at any time without prior notice.

lol the shitcoin market is not nearly big enough to involve enough people to even cause a tiny unrest let alone any riot that needs government intervention.
Besides, most people know what they are getting into when they buy shitcoins on centralized shady exchanges like Binance.

That's actually a good reason to remove them since as you admit they are shitcoins that have copied bitcoin.

They will but not for long.
This wouldn't be the first big CEX that goes bust.

lol never gonna happen bro...

Everyone tells you not to jump into the well, you insist on jumping in and after reaching the bottom of it, in the darkness you scream for help!
That's not how things work. You shouldn't invest in shitcoins in first place instead of wanting government to bail "you" out because of some right that doesn't exist.

This will tell us that buying low-cap coins and no use case is a high risk. And if you are also buying with these coins, we must sure that we are also updated about this project. They're not meant for long-term investment so keeping them long isn't advisable anyway.
Short notice is really terrible but yes, we have to take action before the said schedule otherwise you can no longer sell your coins anymore. But as long as it is on our personal wallet, it can be safe. We can still make a trade of it in other exchanges.

Who the Hell DCA's leveraged tokens or even holds them for long?
Have you ever traded leveraged tokens? If you try holding them for long even if your position was initially profitable, you end up losing all your profits


This is not the first time they delisted them anyway, people really need to first learn where they are going to put money instead of making rush investments while ignorant.

Because they were so stupid to trust centralized exchanges. Next time they will learn to use noncustodial wallets

The point is the very high volatility in the crypto market. Even Bitcoin gets so volatile at times and people lose a lot of money. Delisting the shit leveraged tokens is the nest solution.

People do really forgot the basics when it comes to risk management on which they are really that careless when it comes to this manner.People do really trust up that much when it comes to these centralized platforms
or exchangers which everytime and anything which things could happen in a snap.I agree about that short notice about delisting but come to think that its been the standard if we do talk about Binance.
It is really just people are really that blaming out on something just because they had just been too careless in regarding with their investment decisions and now they do
love on pointing out their fingers without even realizing that delisting is just a normal act for exchangers to do into those coins which arent getting those volumes.

No need for government intervention if users take proper risk management and don't trust any centralized platform blindly. If you believe delisting on short notice is such a scummy move, stop using that platform. Post and make noise on social media so others will also stop using it. Asking for government to intercept a market built on self-custody is contradictory IMO, of course, they still need to be regulated, but you should not depend on a third party to secure your funds in the first place. If that's your thing, maybe trade stocks and gold instead.

For example binance delisting leverage up down tokens.
Many traders bought up coins by dca the dollar Cost average way so becouse market not stay that low forever.

The problem is they cant delist high leverage tokens with so short notice people have bought a lot of them.

I think the MT gox situation was nothing what we see nowdays people Will start riots probably goverment must Force exchangers like binance to protect customers from losses.

I know people who have invested like life savings in exchangers and now it's all gone.

If some low Cap new coins we can understood but leverage tokens Are the dublicates of biggger coins Like eth btc If nothing happens with btc or ETH dot trx then there should be no reason to delist dot or trx.
The leverage tokens Are extra risky so it have to be with longer notice.

Binance is last exchanger what people trust If binance Will follow the ftx style to treat customers then people Will be very sad and disapointed.

Also we pay leverage tokens fees and holding fees so traders lose a lot i hope binance Will change the mind and not doing delist before the Market not going back to up becouse many traders Are holding up coins If binance delist those coins it will be bad.

That's why i see only way to goverment to step in and bail out all so nobody don't get hurt and people will belive in crypto again not just FTX but now Also binance need funds.
Poloniex Also need goverment aid


The short notice of delisting not accepteble and If they do the poloniex binance then traders want compensation recovery funds at least Same ammount they have invested people Will fight nowdays people Are waken up they don't Let unjustice to rule and in countries like USA UK ca or EU it's impossible to take people money just like that.

The question Are about public security and human rights.
I hope binance and all others will start to understood and have some resevers to cover all the losses.