Damn You Cryptopia! Free My SmartCash!
On the 9th of January, I was on Cryptopia, loading up on some more SmartCash. I had closed out some positions after December's stellar crypto run and was aiming to lift my SmartCash holdings above 10,000 SMART.
I placed my first trade of 2000 SMART; all good. Then I placed my next trade and...
So I went over to my wallets to go ahead and transfer my SMART from the exchange.
I wasn't really too bothered. I figured it may be a few hours or a few days at the most, and I could resume my trading and transfer my SMART to my wallet and earn some SmartRewards.
Then within a couple of days, someone had the brilliant idea to organise a pump and dump amidst the diminished supply of SMART. Apparently, the vast majority of SMART on exchanges is held on Cryptopia. As the price was rising, a big segment of traders / hodlers were excluded from the market and couldn't sell.
I was, of course, thinking, HELL YEAH! As soon as Cryptopia re-opens trading, I'm selling and will buy back in at a lower price.
Well, here we are two weeks later and Cryptopia is still holding my SmartCash hostage. Apparently, the SmartCash devs needed to perform a chain rollback or something. They sorted it out, but Cryptopia is for some reason unable to sort itself out.
As you would expect, there are a lot of pissed off people around. Just search "cryptopia smartcash" on twitter and see for yourself. The worst part about it is that Cryptopia was completely silent on the matter for 10 days.
Then, FINALLY, two days ago, Cryptopia posted some instruction to SMART holders, letting them know what to do...
YAY! So I went to my Cryptopia wallet to withdraw my SmartCash and guess what I found...
I could not believe how lame this was. Why would they give official instruction to withdraw SmartCash without first unlocking the wallets?
So now I just wait, and hope that I can get my SMART into my proper wallet prior to the 25th so that next month I can start earning rewards on this new SmartCash.
One thing I know for sure, I will never trade a single coin ever again on Cryptopia.
Any recommendations on the best place to buy SmartCash?
Jason Staggers
Thanks for the information mate.
I'll be avoiding Cryptopia for sure. Whenever there is new tech the scammers start ripping folks off.
Well, hopefully the people of Steemit will heed this warning.
I've heard they are having major dramas with LTC so I'm sure SMART is not at the top of their list of priorities. I'm confident I'll get my coins, I'm just hoping it's before the 25th.
Fingers crossed for ya mate.
This situation is obnoxious, im thankful i only have a small amount of my smart stuck on there, but it's still frustrating as hell.
Obnoxious and frustrating is a good description. B-grade also comes to mind :)
hm... Cryptopia slides down to the scam.
I don't think it's purposeful, I just think they're disorganised and overwhelmed with other problems.
excellent post greetings
25th and 29th is coming fast, cryptopia will take away some good profit. I also lock up 10,005 SMART there for my SmartNode.
ouch! I hope this is resolved soon. I would be pulling out my hair if i was caught up with my smartnode sitting on cryptopia.
Yeah, it sucks. Fingers crossed!
Hello friend, time not knowing about you, I hope you can recover your SMART in your wallet before the 25th. And thanks for reporting how bad Cryptopia works. Saludos...
Thanks :)
Ah damn, while I have no advice for you, I'll share my experience as well.
I wanted to buy some Electroneum and the only place to do it was cryptopia. So, I would have to send some bitcoin to cryptopia wallet.
But bitcoin transaction fees were to expensive and I wanted to avoid that. Ethereum fees have also increased. So, my choice was litecoin. So, I sent some litecoin to my cryptopia wallet, which I would exchange for electroneum.
Lo and behold, processing was not a smooth thing. Then when I wanted to exchange, LTC wallet had been frozen indefinitely. What was I left to do?
Luckily I was able to withdraw the litecoin from cryptopia to another (wallet) - of course with some fees. And I thought I would pick another coin and send it to my cryptopia wallet to exchange it for ETN.
But on a second consideration, I left it go. And all the fees added up to $7. All for nothing but some hours lost...
If ETN wants to up their game, they need to be in many more exchanges and not depend of cryptopia, which seems to fail many of its users. And we know other exchangers have done that in the past for STEEM and SBD (think poloniex).
Anyway, I hope this helps someone and I hope you're able to sort things out as well.
Thanks @cristi. I heard they are having major problems with LTC, which is obviously their priority and probably why they aren't doing much about SMART at the moment. The problem with crypto exchanges is you're not really sure if it's a bunch of guys sitting around in a room coding and smoking weed :) I'm sure they're doing their best but...
hi @jasonstaggers ...... I had a problem similar to the one that you have which led me to have to hold a coin for longer than I wanted and when they released it I was already lost (I held for a few months and already recovered and multiply, although 6 months after what I had planned), the truth of all the exchanges where it quotes me I only like coinexchange despite being a small market I have no problems in it.
hitbtc the truth to me did not convince me being the third market in volume and in particular I had problems with delays in deposits and in listing cryptocurrencies (it is a very personal opinion but I hope it serves you).
Greetings friend
Thanks for your input. I hope someday I'll look back with thanks that Cryptopia locked up my SMART because perhaps otherwise I would have sold it :)
@hannahlicious is the smartcash queen she probably has good advice and is an Aussie just like you Mate!
I just have smartcash on the smartwallet and am holding collecting rewards, about as far as my knowledge goes ;-)
Sometimes you just want to buy more especially with the smartnodes coming or just to give someone a start. You go on an exchange with the plan to buy and viola your timing is off! wallets issues starts right in the middle of your transactions or as you are about to withdraw. You are in limbo and so are your coins.
Thanks for the heads up. I've noticed she posts a lot about SMART.
Least I can do mate!
I am sorry you got caught up in this. I feel your pain. Crypto Bridge has been working very well for for me. I have done 3 trades in the last 24hour. They have good volume on BCH, BTC and LTC pairs. I have also been able to withdraw all my SMARTS. In fact my last trade was selling my Smarts on HitBTC and bringing the BTC to CryptoBridge to buy it back. This worked out well as I got the Smarts last year really cheap and there is almost a 40% difference in prices between both exchanges.
I agree with @nitego CryptoBridge https://crypto-bridge.org/ is good. It's based off of bitshares distributed exchange which is also a project tied to steemit. Also, I have noticed, that out of all the exchanges Crypto-Bridge seems to have the lowest price for SmartCash at the moment.
Thanks for that. I'll check Crypto Bridge out :)