An unexpected message hit the crypto market today and made the case yet again for decentralization:
#Binance will be suspending withdrawals temporarily in order to address a large increase in requests from new unique users. Rest assured funds are #SAFU and we apologize for any inconvenience caused. Updates to follow.
Yeah, there is a problem, Binance. It's my money. And now I can't withdraw it because you decided that your system couldn't handle some kind of request from "new unique users." I'm assuming these new users are coming from Robinhood and all of the exchanges under fire for limiting functionality during the $GME debacle. Umm, how is your behavior different from that?
So this is my warning to you, dear reader. I actually like Binance. They've done some things to move crypto forward when they didn't have to. But it is a centralized platform, and that kills any advantages it may give me. Because there is absolutely no excuse for limiting the use of users' funds.
That's why I keep funds on BINANCE for the least amount of time possible. And it's also why I use decentralized exchanges (DEXs) whenever possible. Uniswap, 1Inch, Unimex, even that expensive ass METAMASK swap function. (Metamask will probably airdrop a coin to users just like Uniswap and 1Inch, so use it at least once if you haven't.) If you don't know how to use these to switch between cryptos and move into stablecoins, you should learn. It costs a bit more if you are using Ethereum network, but the safety is worth it.
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YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
Gems I'm investing in:
NFTs - Doki Doki
Trading - Unimex
Finance - Soar