Cryptocurrency News & Discussion

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The original was posted on /r/cryptocurrency by /u/After_Sock_3550 on 2024-01-09 18:31:46+00:00.

Original Title: Crypto.com isn't the worst, but they are WAY too inconsistent. Their most recent situation is customer support is non-contact for weeks, some say months and platform app and API malfunctioning due to server issues

Don't get me wrong. CDC is probably a fair bit better than your typical unregulated exchange due to US regulations and the like but they are far from the best. Let me validate my statement about their inconsistency.

1. There was the infamous event pertaining to card rewards where users had locked up funds in CRO for months, sometimes longer, in return for rewards they would earn for using their CDC card. However, CDC randomly decided to reduce card rewards, leaving all the users sort of holding the bag, especially as CRO's price wasn't doing very well at that time.
2. There was also the other infamous situation where CDC "mistakenly" sent 10 Million AUD(7 Million USD) to a Aussie woman and only realised their "mistake" 7 months later, long after she'd absconded with the money having bought a mansion and other luxuries. They absolutely threw the book at her even though it was pretty much their fault. The best part was that the mistake was due to a spreadsheet error, from a multi-billion dollar company. Even more disappointingly was that staff layoff seen during that period may have been a direct result of these potential losses.
3. Somewhat less fair a argument is perhaps the 'fortune favours the brave' Matt Damon ads incident where users who may have been roped in by these ads would have seen their investment fall up to 30% in the months after. More fair however are arguments that CDC functions more as a sponsorship company than a crypto exchange whereby they spend tons on advertising from ads to the arena to the UFC and customers are second priority.
4. There is also the incident where following the USDC depegging, CDC was charging a 1.5% fee for USDC to USD conversions and there was absolutely no notice of this fee anywhere in their press releases/information.
5. CDC also is well known for their high spreads.

Which brings us to today, where tons of users are complain of no reply from support for weeks, some even for months. This is a pretty extreme situation because if there was one thing defined by CDC is was their best-in-class customer service. The best you can receive, if anything at all, is a cookie cutter copy-paste general reply that basically says we're sorry and try submitting your issue again. On top of this, the app also malfunctions presumably due to server overload as well as the CDC API(basically for developing bots/automated trading) being wildly erratic and undependable as for the websockets sometimes updates are sent while others nothing is sent at all. You can easily join the CDC telegram and view all the complaints for yourself.

[Names removed for privacy]

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The original was posted on /r/cryptocurrency by /u/After_Sock_3550 on 2024-01-09 18:31:46+00:00.

Original Title: Crypto.com isn't the worst, but they are WAY too inconsistent. Their most recent situation is customer support is non-contact for weeks, some say months and platform app and API malfunctioning due to server issues

Don't get me wrong. CDC is probably a fair bit better than your typical unregulated exchange due to US regulations and the like but they are far from the best. Let me validate my statement about their inconsistency.

1. There was the infamous event pertaining to card rewards where users had locked up funds in CRO for months, sometimes longer, in return for rewards they would earn for using their CDC card. However, CDC randomly decided to reduce card rewards, leaving all the users sort of holding the bag, especially as CRO's price wasn't doing very well at that time.
2. There was also the other infamous situation where CDC "mistakenly" sent 10 Million AUD(7 Million USD) to a Aussie woman and only realised their "mistake" 7 months later, long after she'd absconded with the money having bought a mansion and other luxuries. They absolutely threw the book at her even though it was pretty much their fault. The best part was that the mistake was due to a spreadsheet error, from a multi-billion dollar company. Even more disappointingly was that staff layoff seen during that period may have been a direct result of these potential losses.
3. Somewhat less fair a argument is perhaps the 'fortune favours the brave' Matt Damon ads incident where users who may have been roped in by these ads would have seen their investment fall up to 30% in the months after. More fair however are arguments that CDC functions more as a sponsorship company than a crypto exchange whereby they spend tons on advertising from ads to the arena to the UFC and customers are second priority.
4. There is also the incident where following the USDC depegging, CDC was charging a 1.5% fee for USDC to USD conversions and there was absolutely no notice of this fee anywhere in their press releases/information.
5. CDC also is well known for their high spreads.

Which brings us to today, where tons of users are complain of no reply from support for weeks, some even for months. This is a pretty extreme situation because if there was one thing defined by CDC is was their best-in-class customer service. The best you can receive, if anything at all, is a cookie cutter copy-paste general reply that basically says we're sorry and try submitting your issue again. On top of this, the app also malfunctions presumably due to server overload as well as the CDC API(basically for developing bots/automated trading) being wildly erratic and undependable as for the websockets sometimes updates are sent while others nothing is sent at all. You can easily join the CDC telegram and view all the complaints for yourself.

[Names removed for privacy]

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The original was posted on /r/cryptocurrency by /u/STRGLZ on 2024-01-09 17:36:13+00:00.

So yesterday I decided to move all my coins onto my Ledger because I still had quite an amount on my Kraken account, and while I had no problem withdrawing most of my coins, I had an issue withdrawing Cardano and Solana. I currently have around 319 ADA on my Kraken account, and when I select the maximum amount to withdraw, it says that I can only withdraw 15, and if I enter the maximum amount manually I get an error message. Same goes for Solana. What is going on? Am I being ripped off by Kraken? Any advice?

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The original was posted on /r/cryptocurrency by /u/Mammoth-Caregiver-42 on 2024-01-09 18:28:19+00:00.

Prediction markets allow speculators to bet directly on events, as opposed to betting on the market's reaction to said events. They can be used as hedging tools and also as a place to place bets on real-world unknowns, such as whether or not the BTC ETF will get approved by X date.

I don't know how the market is going to react if the ETF is approved, but I do think it will be approved. I've been using Polymarket to facilitate this bet. Purely trading the news is taking a load off of my back, so if anybody is pulling their hair out trying to predict ETF PA, this is what I would do if I were you.

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The original was posted on /r/cryptocurrency by /u/Mammoth-Caregiver-42 on 2024-01-09 18:28:19+00:00.

Prediction markets allow speculators to bet directly on events, as opposed to betting on the market's reaction to said events. They can be used as hedging tools and also as a place to place bets on real-world unknowns, such as whether or not the BTC ETF will get approved by X date.

I don't know how the market is going to react if the ETF is approved, but I do think it will be approved. I've been using Polymarket to facilitate this bet. Purely trading the news is taking a load off of my back, so if anybody is pulling their hair out trying to predict ETF PA, this is what I would do if I were you.

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The original was posted on /r/cryptocurrency by /u/Pilsner_Maxwell on 2024-01-09 18:25:12+00:00.

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The original was posted on /r/cryptocurrency by /u/SnooCompliments1686 on 2024-01-09 18:22:01+00:00.

Do you agree with this statement ? If you don’t know what you’re doing, you will mitigate your risk by not putting your eggs in the same basket. But if you’re sure of yourself you will focus on one big shot and maximize profits.

I personally like to focus on one project at a time. Easier to follow and adjust based on risk appetite.

If you only had one crypto to pick for 2024, which one would you pick for a maximized return on investment?

Please also make sure you detail why you pick your investment, expected return and timeline and if you have any exit strategy.

I missed the Solana 2023 upside because I was not convinced it would do good after SBF debacle. I got ICP at 5$…

When it comes to meme coins I was lucky to be an early investor on Shiba, Pepe and Bonk. I missed Doge unfortunately but I never trusted them for the supply size.

I have my eyes on some projects but will pick my 2024 based on the result of this discussion.

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The original was posted on /r/cryptocurrency by /u/brbinsky on 2024-01-09 17:39:33+00:00.

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The original was posted on /r/cryptocurrency by /u/Pilsner_Maxwell on 2024-01-09 18:25:12+00:00.

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The original was posted on /r/cryptocurrency by /u/SnooCompliments1686 on 2024-01-09 18:22:01+00:00.

Do you agree with this statement ? If you don’t know what you’re doing, you will mitigate your risk by not putting your eggs in the same basket. But if you’re sure of yourself you will focus on one big shot and maximize profits.

I personally like to focus on one project at a time. Easier to follow and adjust based on risk appetite.

If you only had one crypto to pick for 2024, which one would you pick for a maximized return on investment?

Please also make sure you detail why you pick your investment, expected return and timeline and if you have any exit strategy.

I missed the Solana 2023 upside because I was not convinced it would do good after SBF debacle. I got ICP at 5$…

When it comes to meme coins I was lucky to be an early investor on Shiba, Pepe and Bonk. I missed Doge unfortunately but I never trusted them for the supply size.

I have my eyes on some projects but will pick my 2024 based on the result of this discussion.

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The original was posted on /r/cryptocurrency by /u/brbinsky on 2024-01-09 17:39:33+00:00.

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The original was posted on /r/cryptocurrency by /u/STRGLZ on 2024-01-09 17:36:13+00:00.

So yesterday I decided to move all my coins onto my Ledger because I still had quite an amount on my Kraken account, and while I had no problem withdrawing most of my coins, I had an issue withdrawing Cardano and Solana. I currently have around 319 ADA on my Kraken account, and when I select the maximum amount to withdraw, it says that I can only withdraw 15, and if I enter the maximum amount manually I get an error message. Same goes for Solana. What is going on? Am I being ripped off by Kraken? Any advice?

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The original was posted on /r/cryptocurrency by /u/Zaino600 on 2024-01-09 17:35:25+00:00.

As silly it may sound, I've just noticed I had a few coins on my LocalBitcoins account thanks to an email from them. However, when I try to withdraw them, it asks for a ID verification. I don't have any trouble with that, except, that I had another very old account verified with my ID, and it tells me that I can't verify another account with the same ID. Does it exists any kind of support email? Or I just have to forget of those coins? Can I verify this account with another ID?

Thanks

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The original was posted on /r/cryptocurrency by /u/Perfect_Ability_1190 on 2024-01-09 17:18:01+00:00.

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The original was posted on /r/cryptocurrency by /u/Zaino600 on 2024-01-09 17:35:25+00:00.

As silly it may sound, I've just noticed I had a few coins on my LocalBitcoins account thanks to an email from them. However, when I try to withdraw them, it asks for a ID verification. I don't have any trouble with that, except, that I had another very old account verified with my ID, and it tells me that I can't verify another account with the same ID. Does it exists any kind of support email? Or I just have to forget of those coins? Can I verify this account with another ID?

Thanks

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The original was posted on /r/cryptocurrency by /u/hex_peson on 2024-01-09 16:27:23+00:00.

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The original was posted on /r/cryptocurrency by /u/hex_peson on 2024-01-09 16:27:23+00:00.

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The original was posted on /r/cryptocurrency by /u/hex_peson on 2024-01-09 15:17:20+00:00.

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The original was posted on /r/cryptocurrency by /u/hex_peson on 2024-01-09 15:17:20+00:00.

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The original was posted on /r/cryptocurrency by /u/Jcook_14 on 2024-01-09 15:03:16+00:00.

TLDR at the bottom

If you own ATOMs, and are earning yield on Coinbase or Crypto.com, I highly recommend you look into native staking. I want to discuss the opportunity costs of earning yield on these two platforms, versus what you can get if you stake natively.

What yields are available on Crypto.com or Coinbase

The yields on these platforms seem pretty good on the surface.

• CDC offers up to a 7% yield, on a 3 month lock up. I mean, no one wants to lock up their assets for 3 months, but 5.5% is better than nothing.
• Coinbase offers up to around 10%, and rather than a lock up period, they just utilize the native ATOM unbonding period of 21 days.

These yields are pretty good, but, what does native staking offer

• Native ATOM staking currently offers an APR of roughly 13%. This is significant compared to both CDC and Coinbase. With ATOM inflation currently sitting at 10%, it’s important to beat inflation and native staking is the only yield that will do such.
• Native staking also earns you rewards from Interchain secured consumer chains. These Interchain secured are sovereign blockchains, who pay rewards to ATOM delegators/validators for economic security. These rewards add less than 1% on top of the current APR, however, if these chains take off on the future, these rewards could provide a significant boost in APR.
• CEX’s are always left out of airdrops. In order for atom stakers to recieve airdrops, they must stake natively. It doesn’t matter what wallet provider you use to stake, so long as you hold the private keys or seed phrase. If you hold the keys, and meet the required criteria for each specific airdrops in question, you will be included in the airdrop snapshots.

Airdrops in the past few months you could have gotten by Staking natively

• Celestia
• Namada (Privacy coin)
• Dymension

And more have been announced. Some have probably taken snapshots, but if you can, get off the exchange and natively stake so you can qualify.

Wallet providers to stake natively

A few wallet providers that allow you to stake ATOM natively are Keplr (desktop and Mobile), Cosmostation (Mobile), Leap wallet (Mobile) and Defi Wallet (Mobile). It’s easy to get your own seed phrase, and be able to stake right away!

TLDR:

If you own ATOM, and wish to earn yield on it, it is simply more beneficial to stake it natively your self. You get higher APR, which beats the tokens inflation. You earn Interchain Security rewards and you will be much more likely to earn airdrops, so long as you meet the project doing the airdrops’ criteria.

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The original was posted on /r/cryptocurrency by /u/Jcook_14 on 2024-01-09 15:03:16+00:00.

TLDR at the bottom

If you own ATOMs, and are earning yield on Coinbase or Crypto.com, I highly recommend you look into native staking. I want to discuss the opportunity costs of earning yield on these two platforms, versus what you can get if you stake natively.

What yields are available on Crypto.com or Coinbase

The yields on these platforms seem pretty good on the surface.

• CDC offers up to a 7% yield, on a 3 month lock up. I mean, no one wants to lock up their assets for 3 months, but 5.5% is better than nothing.
• Coinbase offers up to around 10%, and rather than a lock up period, they just utilize the native ATOM unbonding period of 21 days.

These yields are pretty good, but, what does native staking offer

• Native ATOM staking currently offers an APR of roughly 13%. This is significant compared to both CDC and Coinbase. With ATOM inflation currently sitting at 10%, it’s important to beat inflation and native staking is the only yield that will do such.
• Native staking also earns you rewards from Interchain secured consumer chains. These Interchain secured are sovereign blockchains, who pay rewards to ATOM delegators/validators for economic security. These rewards add less than 1% on top of the current APR, however, if these chains take off on the future, these rewards could provide a significant boost in APR.
• CEX’s are always left out of airdrops. In order for atom stakers to recieve airdrops, they must stake natively. It doesn’t matter what wallet provider you use to stake, so long as you hold the private keys or seed phrase. If you hold the keys, and meet the required criteria for each specific airdrops in question, you will be included in the airdrop snapshots.

Airdrops in the past few months you could have gotten by Staking natively

• Celestia
• Namada (Privacy coin)
• Dymension

And more have been announced. Some have probably taken snapshots, but if you can, get off the exchange and natively stake so you can qualify.

Wallet providers to stake natively

A few wallet providers that allow you to stake ATOM natively are Keplr (desktop and Mobile), Cosmostation (Mobile), Leap wallet (Mobile) and Defi Wallet (Mobile). It’s easy to get your own seed phrase, and be able to stake right away!

TLDR:

If you own ATOM, and wish to earn yield on it, it is simply more beneficial to stake it natively your self. You get higher APR, which beats the tokens inflation. You earn Interchain Security rewards and you will be much more likely to earn airdrops, so long as you meet the project doing the airdrops’ criteria.

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The original was posted on /r/cryptocurrency by /u/Eddie667- on 2024-01-09 14:59:47+00:00.

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The original was posted on /r/cryptocurrency by /u/Eddie667- on 2024-01-09 14:59:47+00:00.

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The original was posted on /r/cryptocurrency by /u/jwinterm on 2024-01-09 14:56:03+00:00.

We had a guessing game about a year to predict the price of BTC on Dec 31 2023 at 1159PM EST on Coinbase here:

The results have been tallied and the winner appears to u/Homofuckbro 🙈

I will ping the winner and backups in case the winner doesn't reply in a week or so, and hopefully we'll get another contest up for this year shortly.

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The original was posted on /r/cryptocurrency by /u/Register_Consistent on 2024-01-09 11:39:30+00:00.

Hello everybody!

So I've been trading not for a long time and I've been trading mostly on Bybit.

I've come to the conclusion that everytime a new coin is being listed it jumps a lot. For thousands and thousand of percent. So I was thinking of buying these coins where they are available to buy and transfering them to binance or bybit and selling when they skyrocket.

I know I'm not the first guy that thought of this.

I don't have much experience with transfering any crypto to anywhere else. Only trading on exchanges.

Is there someone that tried this already?

I've seen that on new coin listing, crypto deposits are available before the coin is available for trading - which means that you can transfer that coin from somewhere else on this exchange, right? So, if you buy it somewhere else, transfer to Bybit etc., then you are able to sell them when they jump alot.

Does anybody have any experience with this?