RE: Why does HitBTC have wallets of STEEM/SBD closed since 2 years ?
There is a reason for this, as I have been informed the exchanges are simply acting in their best interest and that of their users. Here is a breakdown
Basically the exchanges were concern about the volume at which a small circle of folks are continually dumping without regard for those at the other side of the trade and subsequently withdrawing Bitcoin which is coming up at a loss for the many and end result the exchange. Since the token are still traded and carry good volume, the decision was taken to continue making those tokens available but restricting deposit and withdrawals.
I know there has been lots of complain in the past about the volume of SBD on HitBTC, but the fact remain I trade there and the volume is as real as it gets. It has its moments when speculators make the most of it and other moments when it has not been getting much traction like what has been happening lately. Its really up to the end user to either make to decision to trade or not. But the volume is as real as it gets
thanks!
yea, its all business. There still folks willing to trade it, hence the service is still available. If they did not abuse that service in the past we likely still be enjoying the wallet service.
HitBTC has some cool market making programs running, I think it would work great for someone who runs a discord of your size. You get some extra perks on top of it and exposure to lots of liquidity. Once you market marker doing more than 6K volume, you get lots of benefit.