02-10-2023, 05:18 AM
It's funny how exchanges cam bomb your mail box with suggestions on leverage trading
<!-- SC_OFF --><div class="md"><p>A recent email from MEXC reads:</p> <blockquote> <p>If you’re just getting started with trading futures, <strong>we</strong> <strong>recommend</strong> practicing with a MEXC demo account to build confidence and improve your trading strategies without risking actual capital.</p> </blockquote> <p>I was then thinking that in my crypto journey I've got hundreds of such mails from different exchanges, offering services that, at their very core, are gambling. </p> <p>We all know how dangerous e.g. leveraging is in such a volatile market, and yet these companies keep pushing us to do so. At the same time, <strong>their Terms of Service state that we should not take any of their proposals or messages as financial advice</strong>. It's like "wanna buy? OK, none of what we offer is financial advice, but since you're here, here's a 125x leverage for you!"</p> <p>This is predatory specially for newcomers. </p> <p>We've seen lots of people getting rekt in this bear due to leveraging, so please avoid it. </p> <p>Even though exchanges are advising/luring you to do so, they can't be held accountable in case you lost it all.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/reddito321"> /u/reddito321 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10xvhon/its_funny_how_exchanges_cam_bomb_your_mail_box/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10xvhon/its_funny_how_exchanges_cam_bomb_your_mail_box/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>A recent email from MEXC reads:</p> <blockquote> <p>If you’re just getting started with trading futures, <strong>we</strong> <strong>recommend</strong> practicing with a MEXC demo account to build confidence and improve your trading strategies without risking actual capital.</p> </blockquote> <p>I was then thinking that in my crypto journey I've got hundreds of such mails from different exchanges, offering services that, at their very core, are gambling. </p> <p>We all know how dangerous e.g. leveraging is in such a volatile market, and yet these companies keep pushing us to do so. At the same time, <strong>their Terms of Service state that we should not take any of their proposals or messages as financial advice</strong>. It's like "wanna buy? OK, none of what we offer is financial advice, but since you're here, here's a 125x leverage for you!"</p> <p>This is predatory specially for newcomers. </p> <p>We've seen lots of people getting rekt in this bear due to leveraging, so please avoid it. </p> <p>Even though exchanges are advising/luring you to do so, they can't be held accountable in case you lost it all.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/reddito321"> /u/reddito321 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10xvhon/its_funny_how_exchanges_cam_bomb_your_mail_box/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10xvhon/its_funny_how_exchanges_cam_bomb_your_mail_box/">[comments]</a></span>