Is 50% Withdrawal Free That Crypto.com Charges?
When you do trading in a crypto exchange, you pay a fee for each trade. That's the crypto exchange's earnings. When you withdraw from the exchange, you always pay for free. That's the minimum. There is no way withdrawal free can be huge.
There is a tweet complaining about charging a 50% withdrawal fee on crypto.com. This is shocking. It cannot be happening. Maybe there are some technical issues or some sort of technical glitch.
In response, the Crypto.com support team requested to send a DM to look into it. This centralized crypto exchange has a record of making huge mistakes sending a lot of money to a customer by accident. Moreover, they could not figure it out until several months. There must be an imbalance that was supposed to find out quickly, but it did not happen in the past.
If the crypto exchange you use makes mistakes, you are one who has to suffer because of that. No one wants to get in trouble that costs them financially. In a bull market, we see an extreme level of promotion and created positive vibes.
It does not take long to show the real picture as soon as the bear market hits hard. There are other complaints about this exchange for delaying withdrawal. I do not use this crypto exchange. If you use crypto.com, you may know it better.
When you use a centralized crypto exchange, you are taking risks. If anything happens, you will lose your trading capital. If the crypto exchange files for bankruptcy, your personal information can be revealed in public. You are at risk of not only losing the funds that you have on the crypto exchange but also the sensitive personal information that you provide to the exchange.
I do not feel comfortable holding funds on the centralized crypto exchange that I do not actively use for trading or investing. You can do everything on your part, but any mistake in the crypto exchange can cause you to lose money. It is better to have less exposure to the crypto exchange.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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