Topic: Lies in the world (Read 455 times)

Newbies in trading should not take this advice lightly, because the emotion behind OP's write-up is that of one who has experienced real losses from trading.

The thought of the massive profit from margin trading is enticing, but the thought of losses should also scare you into not diving in heads deep but at the same time not a call to never try it if you can. You can win there, and you can be in big sh*t too! Margin trading is not a place to play around, you must know your onions in trading if you want to give marginal trading a try. Newbies take heed.

Hah! You need to see a T&C from a bank to realize how that sector has always been out to cheat customers deliberately. So many hidden deals that easily rope customers in without the customers knowing it until when a legal suit ensures and you, as a customer, get to find how helpless such a situation is for you. I encountered it myself a few years ago.

The irrelevance of your response to the OP is highly conspicuous. It's nothing else than spamming.

There are so many people in the world who lie a little later.  So they can't succeed in any task at any time.

Well, all I can say is that the page 'Terms & Condition and FAQs' must be viewed before making any decision. Mostly these sorts of things aren't mentioned clearly, which can be viewed in the above-stated pages. Also always try to make some research by searing the internet, reading relevant blogs and the expert's opinions before making any such decisions. Do not play blindly.

The world have turned to a place where scam is now a major profession,and it takes only few people who can ditect lies, and know how to handle it.
Most persons have been carried away by what they heard from somewhere,unknowing to them that every single information they've heard is a lie.
We must have the ability to know when false informations are shared to us.

We can only build bridges to humanity and serve society and the world we live in by honest efforts and by delivering value. We can't get on in that world by relying on lies and scams. Could a blockchain and cryptocurrency community make a positive impact?
Yes, of course it could. And I believe it already is.

Lies have become a part of life. Not only lies, but also evil, goodness, selfishness, honesty, panic, and many various traits are inherent in humans and in everything in this world.
Even today's public lies may be so pervasive and we have to pretend we don't know the lies just because we don't have the power to fight them.
We also know how many lies in the crypto world, carried out by scammers, influencers, and various project developers to attract interest and sympathy from many circles. One of the purposes of the lies again is "money."
So, I don't think we need to think deeply about the lies, just try our best effort not to do many lies again to the world. Start from ourselves.

In my opinion, they are not that much wrong either. Look around, everyone here or in this world is doing it for their own profit. No one will do it for others' profit. That is how he can survive. Though Binance makes profit from users, if Binance is able to make a profit, how will they run the exchange? They are not a free service provider because they do all their work with donations. They have lots of workers, and they are running lots of promotional campaigns. They have huge maintenance costs too, so they should earn from someplace. But you know what, they are giving you money security; if a hacker hacks, they usually take responsibility and pay him. are earning through our fees. Just think if everyone made a profit from future trades, then they would have to pay all of your fees. If they make a profit from future trades, it's all because of the market situation. Their profit depends on the market. If you are doing short and the market goes up, then they make a profit, but remember there are a lot of people who made money long too. If they make money from someone, they must also pay someone.So, if you can't use how they made money, their message sending is a promotion strategy.And I'm not saying Binance is the best; I'm just saying that every exchange does the same thing, so why single out Binance? also have lots of complaints about Binance, but I used it for its insant and secured behaviour, and I also used ftx, kucoin, coinbase, bybit, bithumb, and more too. All are working with the same strategy. I hope you won't mind if I heart you something. I am really sorry. I'm just giving my opinion. Thank you. 

To be fair, this looks to me a plain promotion or marketing of a product rather than an outright lie. You know, companies promoting their products and services through various ways, especially through ads, are allowed to lie up to a certain extent. I don't know why, but exaggeration in ads has always been a thing. We, as customers, will have to do the due diligence before getting into something. There's what we call caveat emptor.

Margin trading amplifying your profit is true, because you are allowed to use leverage. The downside of it; of course, they won't include it. They're marketing, after all.

Not only in trading and in crypto, but also in every business telling lies to every customer to buy their product, in the end its on your own to decide if you try it or you have to be wise and ask other first before doing anything. 

Almost everything in the world today are lies.Therefore,before taking or accepting an information shared to you,try as much as you could,to verify the information well,before deciding,and making use of it because it might cause you pain if not properly checked.

Lies are from the pit of hell,but these days,human being no longer do without that lie again,they lie on daily basis,and earn a living through lies.

All humans do lies for one reason or the other especially when it comes to businesses like selling stuffs you need to make sure that customers don't leave your company or store without buying a thing, this is why I believe no one is Saint when it comes to money making, it's what scammers do as well they lie to lure their victims

The world is simply cruel, you would tell humans the truth and it's simply interpreted the wrong way.
Most information we get if not eye witness can also be false, reporter's are paid handsomely to take out the wrong set of news.
In the world today,I think lie's much more appreciated.

Thank you for sharing this information because it going to save a lot of newbies but I am not surprised about this information, because when the crypto market is in the season of the ATH market some people always intentionally spread false information to deceive the newbie and some greedy crypto investor. I am only surprised because the information was sent by Binance and they have also been involved in a lot of issues lately which I believe may affect their reputation.

Honestly, the information is helpful but the captivation the heading gave me was not seen in the post.
We cannot outrightly say that Binance lied. There are people who also makes a lot of fortune from margin trading. So, what they did was an advertisement.
And no brand advertises her brand with the side effects. Advertisement goes with the sweetest and most positive words.
So, Binance did not lie. We can only say that it's a lie if actually nothing like margin trade exists.

Isn't that the very reason why the rule of thumb of DYOR is incessantly being told to users, especially newbies, I don't really know if the message by Binance is wrong or not, but what I know is that they are not compelling anyone to do anything, if a user gets that message and just takes it in hook, line and sinker, then whatever the consequences are is definitely on them, as a crypto user you're meant to verify every message you get and check if it actually suits you or not. Every service one uses will always try to advertise for themselves to make money, you shouldn't be convinced by their adverts, you must always DYOR and draw your conclusion.

If you got hypnotized with this trick, it absolutely makes you fool and do follow what they say, and ended up losing.

I've received so many emails coming from Binance as well but never I do what they promoted. As for me, why I should have to do this since I know in myself that it can be hard and I'm not capable of doing this. I read it and just simply ignore it.

As I'm doing spot trading, I'd live with such confidence but to try getting into a higher level of risk in leverage trading or in futures trading, that is out of my mind now even they will say there is a bigger chance to profit more. Well, that seems a bigger chance to lose (just for my personal assessment).

No but I did not click on "view more" as it displayed "view more and try margin trading now". I did not because I was expecting it to take me to binance margin trading directly as usual. I have only seen that similar quote ones before and not long when I joined binance and it was through an email. If I saw it there, I wouldn't have created this. I believe some other binance users saw the notification message on their binance account, they should be able to testify to this. I have deleted the messgae as it really annoyed me, I would have gone all the way to login on web to see if I can copy the link and paste it here. Nothing like warning, I am wondering why some people are supporting binance doing this, I have come to think if they are binance officials.

I can't get a copy of that specific promotional email anywhere, but I have seen some others around that do include a risk warning on the footer of the email. This is something that should have been included here, and is something that is aligned to what I mentioned on my prior post on this thread.

Example for an older promotional email from Binance related to Futures:

Was a similar footer not present on this occasion?

The best advice is to add discretion to all your decision it doesn't matter if you are a trading margin or spot trading and binance messaging its clients is a way to promote their new features but in all don't get too greedy stick to what works for you.

Well, I find what Binance does morally questionable, although it is true that strictly speaking they are not lying.

OP, is there no fine print in the message warning of possible losses?

The truth is they paint it very pretty but if I had to send an email to counter I would say margin trading is the best way to lose a lot of money very fast, description that is quite a departure from how they paint it.

That is what happens to the world.
You have your choice to be part of that lies or you can stay on your right track.
You do not have to bother with that everything that seems to be lies so you do not lose your focus to do whatever you do to achieve your goals.
Related to trading, you do not have to feel tempted because of the exchange offers because you can not expect to make a big profit from that way instead still use your way that can make you feel comfortable in analyzing the market and have a chance to make a profit.
But if you have a curiosity, you can try to go that way but I can only remind you that do not risk too much money that you can afford to lose because if you use that way, the risk will become bigger than the spot trading.

that binance promotion ftx do the same with FTX futures that comes up in coingecko, but please take the ads carefully

personally i dont recomendded with margin trading futures or trade with leverage is high risk cauce i do lost much  but it can make profit fast to

leverage trading is for more advance trader if u confuse what trade trype shoul you choose i will pick Spot

More advertisements or promotions are always sent by certain platforms so far, from the fake or scammers until the reputable platforms. Yeah, the promotions will be always very promising, they will do it in order to attract the users to do something that they want. But you are right, they are moreover doing this for business. And business is always business, the point is about getting profits and money from their users.

I cannot blame Binance or other platform, because this is one of the promotions.
And about trading type, Spot trading is the best trading for moreover beginners. I always say to my friends that even we only earn small profits, but trading in Spot is less risks and trading in future or with leverage.
We also know that it is true that trading in leverage can really multiple our money so easily, but it can also lose our money so easily.
So depend on you, if  you are  a professional trader who has been usual, professional and  also high risk taker, trading in future or with leverage is very promising and many people have proven about this.
But f we are new to this, never try it at first.

From my observation the probability of getting straight line information is very difficult currently, let us not capitalize in government only because this lies is versatile or generally in which i know vividly that it extend to the grassroots, even investor forbid to portray the truth that will lead another to huge profit to cryptocurrency, in some extent i can't blame people who adventure into false information because some elements of people benefit through fake and false information from different domination.

Yes oo, I also received such reward from KuCoin telling me to go into trading, but sometimes they will tell you to into it and person will end up loosing his/her entire assets. Also some project promoters also lie so that the project they promoting will get good investors, and after a while they will display there real color living almost all investors in loosing there investment

So who is making the mistake? I won't say they're lying but if a naive newbie got attracted by the words and his greed gets kicked on so he is driving into the margin trading without actually knowing what it is then he has to face whatever the results comes.

Some promotion could be misleading as newbie with little or no experience will dive into either margin, spot or future trading hoping to get good return and end up draining down their trading wallets. If such adverts should be considered then the risk involved should also be stated so it becomes clair the have the interest of their investors at heart not just considering how the intend engaging people in a risky adventure

No detailed information, the information is only about how to make more profit, nothing like how it is riskier. The message will also be sent to other binance users which can make them to try and lose more.


This is a forum, it is different from binance. People that are saying trading is profitable on this forum also speaks of the risks but not only the profit.

Binance know most traders are losing, they have it in their stat, the most traders are the leverage traders. All they know is their pocket even if new people that just registered on their site is losing.

I keep asking myself one question every single time I find perplexities like these 
   ain't these peeps doing this just like a normal business? If yes' then what makes you think profit shouldn't be made?
They'd wanna make profits to pay promoters and the company as well. You're receiving mails from binance right? It's called "Ad" (advert) kind of,well that's not even the point here.
 Any trader will always prepare to loose coins and the are no two ways bout it bud,you loose for the company to earn; you'll keep earning few bucks but the day your greed leads you down the wrong track, YOU MUST LOOSE!!

Yes, there are many lies in this world. So it is up to each of us to make the right choices. We all have to decide for ourselves if the right choice is to stay with the truth or look for someone to just tell us what we want to hear. However, I do not see any lies in this email. It is merely a way of marketing promotion. It is up to you whether you accept it or not.

The name of the game is to be cautious of everything and everyone. I don't think it should be a zero trust mentality, but everyone should be here with and open heart and a cautious mind, because, unfortunatelly, people will be people. Crypto could beba wonderfull place, but we not there yet.

I think they've put the right term of what margin trading is and that's about 'betting'. I guess those newbies would be seeing that clue that margin trading is literally a gamble.

A promo that would want other users to try them with that feature. But I agree that the newbies that will receive the email might go in that promo without understanding it since they might just look at "amplify your profits".

Where is the lie?

Yet this forum is filled with poeple saying that trading is a source of income and is better than holding, poeple who claim that by trading they have managed to become independent and so on and on..
So, does this mean the forum is also full of liars? 

If you do not have the right skills in trading, you better not try leverage trading because that will be riskier than spot trading and if you lose, you can lose so big and it is hard to recover your loss even if you add more funds to your leverage trading balance. Even if you are an experienced trader, it is still not easy to trade using leverage trading. The exchange know how to use the greediness from traders, most of them want to make a bigger profit but they do not realize the risk.

True, that is something very disappointing. But I don't have to worry too much about that because in the end every individual will be held accountable for their actions (if they believe in god).

The most annoying thing is that the government does not want to accept criticism even though all the criticisms are true. The lies seem very real but when someone criticizes them then jail is the consequence. This is the situation that happened in my country, maybe you also agree that freedom of speech is a natural thing for a democracy but not many people dare to speak the truth and criticize the government because they are afraid of the consequences. But I believe this has nothing to do with your thread.

About the lies in the crypto space, I think it's something that most people already know. There have been many cases against crypto users where they didn't really manage to detect scammers trying to get their hands on their money. Phishing via email is one of them, but I have a habit that maybe you can practice when registering on an exchange or other service platform, namely using a new email whose password must be different from every other important account you have. This is a precaution to increase your security against phishing via email and I've been doing it regularly so far.

OP, there's nothing wrong with the mails you got from Binance. It's promotional and every business running new products always find ways to advertise them. There's nothing unethical about that. For the fact that you're scared of margin trading doesn't mean there aren't traders who make a kill from trading it over spot trading. Profitable margin traders will be glad to click such links to find out what new stuff Binance is offering. Don't see it as lies, companies like blowing up their little advantages over the downtown they give.

By looking at the screenshot it looks quite clear that it is just a promotional mail from binance. Not only you but everybody gets it.
Also, if binance is sending you promotional mails about futures trading doesn't mean you actually have to do it.
Yes it's true that binance makes a lot more profits from their leveraged trading because most of the people lose money in leverage and get their funds liquidated.
Even I have got my funds liquidated 3-4 times which is why I stopped it. We can't call it a lie because there are people who also make good profits from it.
It all depends on how good we are at crypto trading.

I wouldn’t exactly call it a lie ("can" is true, "will" wouldn’t be), but an oversimplified message to draw attention towards what they are offering (margin trading). I don’t know where the "view more" link leads you too, but I assume it’s somewhere in the lines of this: https://www.binance.com/en/margin-trading. There, margin trading is explained in greater depth, provided one bothers to read all there is to read on the webpage (TOS included), as opposed to skimming through and going into action.

Now for those who lack the willpower to read things through thoroughly, and to think things through above all, the message is enticing enough to push a positive imprint into the reader’s mind, which is what publicity tends to do in general. Some sectors though are forced to include some (very small) fine print in their adds, in order to warn of the associated risks. I’d expect to see that coming to the crypto industry as time goes by and regulation/supervision steps in to the way things are/should be publicized.

Kucoin does this as well, they even send you free USDT to tempt you into leverage trading! Any trading is risky, but leverage is for whales who can afford to lose and not be too bothered about it. Would be good if they mentioned that this is more for experienced traders but that is unlikely to happen

That is what I am saying too, people do not care if you lose, the promotion is for binance to make profit when binance know that most traders are losing according to what they have sent me before. Many newbies will join to lose and binance will make profit if the newbies lose or gain.

Holders are the ones that are gaining most of it. Some leverage traders use amount that can manipulate the market, others follow their direction and they close position for the market to go other way.

Leverage is not risky if the market is not that volatile, but if volatile, money can be liquidated. The market will surely be very volatile.

Not emotion is what is affecting me. What is affecting me is greed. If I earn little, I should be okay with it but I will want to earn more. It is also good to reduce the leverage.

Leverage trading is for professional traders because most of traders have loses, not profit by trading. If they have loses, they will have bigger ones by using leverage.

Even you learn a leverage trading course from a professional trader who really earn lots of profit from Leverage tradings, you probably won't be able to practice it so well. However, your loses are not because what you learn is wrong, it is just only you can not practice and control your emotion so well.

This is just a promotion from my point of view so I won't blame binance for doing promotions about what they have in their platform, Margin trading is nothing but trading without the money we own so we are putting more risk which should be realized by the trader because for the exchange they will concentrate on their revenue and that is the ultimate goal of every company.

Is it very disappointing that the world is full of lies, some of the lies are from the government saying this and that all because of their own favor. We need to be careful of anywhere we are today, think very well before doing something. I would have created this thread on trading discussion but I am thinking newbies may not be visiting the board very often like beginners and help.

Binance sent me a message yesterday, this was the message:




Even spot day traders are losing, I do not know why I am losing in future (3x leverage) trading and binance is sending users message about margin trading (3x to 10x leverage depending on it being isolated or cross). The more the leverage the higher the risk.

This was what happened. I login on my binance account on new mobile device and everything was as if it were new, then I got the message the following day about margin trading which I know is riskier than spot (trading with no leverage) trading. This is the message that will all be sent to newbies.

You should know that binance is a custodial exchanges, not your key not your coin. I only used it to trade. Be careful of what organisations are sending you, they are not helping you, they are only looking for money even if you will have to lose. I was curious why binance is sending messages related to future (yes, I got the message also few months ago and a user also created a thread about it on trading discussion some days after I got the message) and margin trading, I later have to know it is a ways they make more profit from leverage trading fee, but most traders are losing. Even if you want to trade, better try spot and use the amount of money you can afford to lose, most traders are losing.