Moved all my Funds
So lately some Indian Exchanges are acting a Bit Funny. I say Funny in the sense that they are literally Extorting Money from their Customers. The Major Exchanges are not doing anything Fishy but some other Exchanges are having a lot of Issues.
It seems they are taking Profit out of the Circular that the RBI gave at the Begining of April asking all Regulated Entities to stop their Transactions with Cryptocurrencies.
Examples of Fishiness
I don't really remember what the Exchange was but they claimed that their Wallets were not working and if they wanted to take out their Funds they would have to Trade it for IOST Token which could be transferred to any other Wallet. Guess what the IOST Token was Priced 3x the Market Price in that Exchange only.
Some Exchanges are not letting Customers Cash out saying that the Banks are creating Problems but those same Banks are allowing them to Deposit Funds. In other words, the Exchange is saying that we won't let you Cash Out but you can certainly Pour more Money on us.
There are some More Reasons but it feels like the smaller Exchanges are trying to cut out their Losses and gain any Profit they can. I think they are feeling a bit insecure from the RBI's Circular.
If you are from India what do you Feel about this Situation?
Comment Down Below.
Talking about bad crypto exchanges, I bought some Zebi on Qryptos a few days ago. Still waiting for my Zebi to arrive in MEW. I tried to withdraw directly after I bought them on the second of May!
That's weird. I'll transfer all my crypto money on Binance. From there buy steem and bring it to steemit wallet. I'll encash elwhen Cryptos will be allowed again in India. May be 2 years later.
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If you don't hold you private keys you don't own the coins, is important to invest in hardware wallets because provides a big security measure to protect our assets. I suggest Ledger Nano S
This is expected behavior in this market. Stay alert
Political drama
There are always new news and tough challenges,
for the trader to act cautiously and rationally before making any decision, this is the market