What does the suspension of IOTA withdrawals on Binance mean?
I bought IOTA on Binance a short time ago and was surprised to find I can’t withdraw it. I thought that’s a little weird but there is no place I personally feel comfortable withdrawing to. So I decided not to worry. Last night I bought WAVES, set up their client, went to move it and found withdrawals to be suspended too. Now my brain is getting real suspicious. They suspend withdrawals on coins with large jumps. Do they have enough coins to cover people’s positions? They are a fairly new exchange right? What are other people thinking about this?
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If I trade LTC/BTC on Binance, does that mean Litecoin is my base currency and my gains/losses are in LTC or vice versa?
I am having such a hard time finding an answer to what I thought would be a simple search. I want to buy crypto and start "trading up" my account. So I would ideally like my base currency to be crypto so I can trade other cryptos against it. Ideally I'd like to start with Litecoin. But here is my question -- if I load LTC into Binance for example and I traid LTC/BTC I am essentially buying LTC and selling BTC to go long and selling LTC and buying BTC to go short, right? And my gains / losses are in LTC? Am I getting that right? Now if my base currency is LTC does that mean I am ONLY limited to trading LTC against other currencies? Or does that mean I am only limited to having my gains / losses in LTC? So could I decide to trade BTC/USDT or XRP/BTC and so on as long as I have the equivalent LTC in my account? And the money I make at that point would be in LTC? I have been Googling for days and I can't find just a simple summary of this. I trade Forex but I don't know if it's the same. EDIT Please stop talking about laws and taxes. My question has nothing to do with taxes or laws. My question has to do with trading cryptocurrency pairs, what the base currency is, and what your profit on a trade would actually be in.
@cz_binance: Market is DeFinitely beyond insanity now. Curve’s price is $30 now on Uniswap, meaning fully diluted market cap is $90 billion. Release rate is 2m ($60m) curve token per day. Use your own judgement. Be responsible for your own actions. https://t.co/1NYRqqKzoA
@binance: Rank 98 for Daily PNL "Minebuu" is sharing their positions. That means if you are following Minebuu, you can see their open positions and also get notifications when they make changes to them. Check it out: ➡️ https://t.co/HTfawS04FH https://t.co/atb6vgbdEI https://t.co/ZMeXlvzBYE
@cz_binance: 1. #Crypto "drug" lords takes on a new positive meaning. 2. There are lots of people and organizations with good heart in #crypto 3. We are tighter than most people think. Don't be misled by CT. Have a good weekend!❤️ https://t.co/3LKtulyaAN
@cz_binance: @Eljaboom Went all-in #BTC then (now the 1%). All-in on one asset doesn't mean I didn't manage risk. I was aware of the risks and endured a 70% drop for 2 years on my investment (it sure wasn't by choice). I was still earning money, so my basic life style didn't suffer much, luckily.
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Tutorial: How to Margin Trade on Binance 👨🏫 - YouTube
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