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Binance Removes Leveraged Tokens As They Are Too Complicated

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NoLimits15

NoLimits15

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Binance decided to remove leveraged tokens from its platform because they are too complicated to be understood by most users. Basically these tokens work by placing bets on different cryptocurrencies and if you're right you can profit from them and you also lose a lot if you're wrong. They do this process automatically which means users have no control over what's happening.
 
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Oh damn I do believe this is honestly a very smart move on Binance's part because this is basically just hidden gambling and many people can lose loads of money over these token by betting on their price
 
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hibi3454 said:
Oh damn I do believe this is honestly a very smart move on Binance's part because this is basically just hidden gambling and many people can lose loads of money over these token by betting on their price
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Gambling was like the first thing that came to my mind. This method of losing and being on your own shows that binsnce doesn't take a blame for whatever outcome. This is a smart move
 
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That is gambling and it will be good to such crypto exchange as binance. It is good as it was remove so that traders can concentrate on other crypto.
 
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Very confusing indeed and if it's somehow used by a newbie on Binance thinking it's just any trading they can lose a lot. Smart move
 
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I can imagine how confusing it must have been staking leveraged tokens on cryptocurrencies and not being in the position to control to some extent the risk. A loss in such a stake can be destabilizing to the amount of remaining coins in one's portfolio.
 
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I can imagine how confusing it must have been staking leveraged tokens on cryptocurrencies and not being in the position to control to some extent the risk. A loss in such a stake can be destabilizing to the amount of remaining coins in one's portfolio.
 
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