During any market, bull or bear, the need for speed and efficiency is important for anyone involved. The expectation for the platforms and services to be responsive is also important so when it is not, the question needs to be asked: 5 Weeks for a Binance Crypto Deposit, What Happened?
Follow Up From an Earlier Article
If you were lucky enough to read the previous article linked below, you would have gained a perspective on Binance.us. Since writing the article a few things have happened that are worth updating. Carry on...
During a time in social history when it seems that everyone is being called out in the public space for either poor service or something else that does not "agree", it is unfortunate that we have come to this point.
The Update
After writing the article & publishing on Read.cash and Publish0x.com, I started to think that in addition to the amazing communities on both platforms, the people who need to see the write up are CZ himself (if he even stoops this low) and the folks at BinanceUS.
Alas, took to Twitter.
Then low and behold there was a response in just a few hours.
Looks like I'm not the only one who was having this problem.
Problem Solved
The short answer right now is that the deposit finally arrived. There's a little more to the story to add though.
Personally, I have not called anyone out on Twitter in this way before & my intentions were not to malign anyone, but to rather connect.
Here's the dilemma. BinanceUS doesn't have a phone number, email address other that Support@ or any other way to reach them if they do not respond.
After multiple weeks of no response to an email, I felt there was no other way. Trying to be observant of what may be going on behind the scenes, yet expecting a timely response is a balance for the conscientious customer to do.
Even though, BinanceUS responded on Twitter within just a few hours and then a few hours after that a "support" email arrived saying that my issue had been forwarded for completion. Even though, that communication occurred.
It still took 3 more days.
At this point in the process the 3 days is not the issue but rather the absolute breakdown in communication, notification and service that occurred.
No Explanation
No non-automated We are sorry
No Nothing Nada.
But the wallet was credited the crypto deposit.
I have wondered if the principle amount was the issue. If I had 6 or 7 figures of value coming through, would they have moved quicker.
The amount being moved was more than $2,500 USD. I suspect that many of the transactions happening are that amount or lower.
Just go look at the order books for Binance and any of the other crypto exchanges for any small cap crypto. Take Cardano.
ADA orders are 250 - 1000 on any given order. That's a tenth to half of the amount I was seeking to be rectified.
In Retrospect
In looking at this issue overall, as I stated in my first article, probably the best course of action would have been to use the DEX and exchange BNB for another crypto, most likely BTC and work from there.
In this market, timing is money and from this blunder on the Binance side and missed transaction, I missed out on a 10x move for the token that I was looking to exchange for.
If there was something that I did on my end, I would gladly eat my words and write a glowing article about Binance with a mea culpa. But when it's clear with a deposit address AND including a correct memo ID, I'm quite confident it wasn't anything on my end.
Sure other exchanges could have been made, but like all of you, when you have a plan, sometimes you make adjustments and other times you stick even more closely to what you started out with.
Like S. Searles responded on the Twitter feed, to paraphrase it's like pouring salt on a wound when you see the head of a company Tweeting ridiculous things like a pair of eyes, or making comments about BTC, when the guts of his company are running less than sterling.
C'mon CZ, have been a big fan of yours for quite sometime and watched plenty of your interviews. Selling your house and going all in on BTC... Amazing.
If this latest experience shows anything is that we are all flawed and have lessons to learn. Hopefully there is one in here that helps another person who is dealing with a Binance mistep.
Be blessed.
