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Lyster

๐Ÿ‘ค Speaker
225 total appearances

Appearances Over Time

Podcast Appearances

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

But you still have to keep your fundamental balance for the duration of whatever hold.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Where and why does this affect people?

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

This affects people most notably if you don't use wire or if you don't, or let's say you use the extreme one, which is ACH, which is 60 days, which is nuts.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

It's absolutely BS.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

If you use that and it's 60 days, whatever money you put in there has now created a balance.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Think of it like a credit balance, like a secured card credit.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

That money has to stay there.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

And it's now the equivalent of everything you do, whether it's crypto, whether it's fiat, it doesn't matter.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Other exchanges don't work that way.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Other exchanges, if I deposit 200 USDT, I can immediately withdraw that $200 USDT irrespective of whatever other fiat I deposited.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

They don't track it as single balance.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

They track it as separate balance, separate wallet, separate things.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

So my summary for you,

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Crypto, do a test deposit, small amount of BDAG, right?

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Which is sent to your Ethereum ERC.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Then go to the send crypto, which is the withdrawal, and see if the amount that you put in there minus fees is available to immediately withdraw.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

Because if it is, that's what they're saying is, okay, as long as you only give us crypto, you're fair game because we don't put a hold on crypto only.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

The time we put a hold is the moment you give us fiat, any fiat.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

If there's a hold on that fiat, the hold applies to your whole balance, including crypto.

Crypto Talk Radio: Basic Cryptonomics
Basic Cryptonomics 101: #Webot / Pionex.US vs. Other Exchanges

That will throw people.