09-06-2022

I thought a new exchange will be a better choice of mine to grow all the way after many loses. Hotbit is an exchange i moved some stablecoin from binance to start my journey.

And one more reason I'll share ahead behind choosing Hotbit than any other exchange.

This exchange isn't too much famous or popular and to be honest it's not much user friendly to me.

Also i didn't bothered to risk more than i can afford to loss in Hotbit exchange.

When the expenses is becoming more I'm trying to keep myself engage with multiple thing's. While I'm learning trading I'm also following other peoples advice's.

I'll share the reason behind joining this exchange and how i almost lost whole portfolio.

Hotbit pump's & dumps

Remember I'm in a paid discord where I'm learning and all that, from there i jumped to Hotbit because of only pump & dumps

It's crazy in Hotbit every time i do check some coins are always like 500% pumped and I'm not sure but i believe most are fake or well manipulated.

Or even have too low liquidity that a few purchase can pump them to %30000 within seconds.

I heard they're planning to pump and dump a coin in coming day's. Decided to move some funds into Hotbit.

From binance to Hotbit i transferred a couple of USDT paying $1 as fee on TRC.

Out of 15 now only have 14 left and now somehow I'm stuck there.

Some weird coins in exchange

Every single time all of coins in gainers will be some weird types like the one I'm showing now

These coins are making me wonder if this whole exchange is made for scams coin or whatever going there isn't understandable.

So seeing this whole thing i decided to stay away from touching any coin.

Started waiting for when everyone will pump the coin and who's going to make double their money.

Gamble? No! It is said that the guy who told coin name will let us buy 30 minutes before than the other investors coming to pump that coin in Hotbit.

Like we discord members will be early buyers than other but thing's got out of hands.

The coin pumped 30k% after reveal

I was both on laptop and mobile also on zoom call with others 2000 people's ready to buy and sell.

I was shivering and when coin was revealed i searched it on laptop within a second and from 0% it went all the way to 30k% up

And peoples got reckt badly, leaving me because i stepped back.

From 0.01$ it went all the way to $2.97 and my buying order was at 0.9 when i saw it's going down i canceled my order.

Hotbit isn't user friendly

I personally believe this isn't a good place to trade other than pump and dump scheme.

Their buying/selling system is kinda broke or not friendly because it work's like we need to sell our coin to someone and buy from someone

We can't set limit orders so if someone is buying it's from the other person more likely how brokers work.

Many peoples got reckt

I thought peoples made good profit but they all were complaining it was pumped before reveal

Some were saying they've made $130 from $10 and some saying from $30 to 0.1$

And even the guy who revealed lost $5k around.

I reached to conclusion that i won't ever follow any pump and dump because it's not safe or a good thing also illegal in some countries i believe.

But I've no option and will jump into next coin said to be reveal maybe this week or next

The reason i don't have any option left is simple

Don't have enough USDT to withdraw from exchange so I'll either make 30 from 14 or will go to zero.

Still peoples are ready for pump and dumping. We all know some will make tons or some will lose tons but the thing is none should risk more than they can afford to loss.

fin.

I'm curious if this pump and dump thing exist in other exchanges. Like preplanned pump some of them knows about coin to pump before other's

Maybe it happens but can't say exactly. Good thing is my portfolio is still saved in Hotbit and I'll literally throw a party if 14 becomes 1400 next time or will go broke.

Off to learn new strategies now, once I'll be pro than I'll share with others. For now I'm also getting ready for a fresh start in SmartBCH, might be in the next few days and also a good thing is that i have hive powers to publish intro at least.

Also we all know exchanges are never safe place to keep assets and I'll not repeat such mistakes ever again in my life.