Binance listed Bytecoin(BCN) this week.I bought it at 0.00000919BTC per BCN at 203% rise.Their system hanged,I could not buy or sell for 5 minutes.When their system was back up,the price had dropped from 203% to -89% - 0.00000219BTC .The time I bought BCN,the price was fluctuating between 0.00000919BTC and 0.00001060BTC for like an hour.My BTC got completely REKT few mins after I bought!!
Binance has refused to refund me .I had transferred all my money to trade.
Find below the evidence of my account and my conversation with Binance Staff.
Immediately Binance listed BCN, they disabled a lot of features like transferring BCN from another exchange to Binance. The transfers were arriving many hours later when the price had dropped far! This was intentional so traders don't benefit from their price pump.The BCN pump and dump was a Binance inside Job - There is evidence out there!! Its part of the gimmicks that exchanges play to make money.Yesterday Binance listed Augur (REP). I watched the price drop from 0.018000 BTC to 0.006100BTC in seconds.The price would immediately rise to 0.006700BTC in a minute and drop to 0.006100BTC in a minute.The price would them move up to 0.006300BTC and drop to 0.006000BTC though volume was going up.This is outrageous manipulation by the exchange. Unless moving forward,exchanges are ratified and controlled,their users will continue to be fleeced.Have you seen how exchanges have their own bots inflating a coin price immediately you view it and dropping it a few minutes if you don't act so you buy at a higher price? Some exchanges fake up trends so they catch short traders in bull traps.From my experience,we need to have honest exchanges.Maybe my experience will be the birthing of neutral exchanges that make money honestly without causing unnecessary pain to their clients.The Crypto world is great but has a lot of gaps that's need to be fixed because if it's not done,a few dirty people will benefit and cause a lot of clean people pain.If this trend goes on,most traders will leave trading,most coins will go extinct and the Crypto world will be meaningless.This is one of the many reasons why government's across the globe are looking for ways to control Cryptos!
Prominent traders won't talk about this because most of them are stakeholders in this happenings.They even tweet about listing days before Binance does the actual listing.They participate in fleecing other traders so they benefit themselves!
My experience is painful, I don't know when I will recover from this but I would not want anyone to suffer the same.Advice to traders,BE CAREFUL ON NEW COIN LISTINGS ON BINANCE. THAT WILL KEEP YOU AWAY FROM LOSSES AND UNNECESSARY PAIN!