One of the most painful things that one could encounter when trading in Binance application is losing your hive coin or any other coin to scammers simply because you failed to read or pay attention to some simple rules and regulations while you are trading. When some people are trading, they are always ignorance of all these terms and conditions. The reasons why these terms are stated is because once you lose your coin to scammers,it will be very hard to retrieve such coin back.
THINGS TO CONSIDER WHEN TRADING.
- There are some things to consider while trading, most especially when you are the one that wanted to sell a coin.
- Firstly, the Binance management will pop up a message to you telling or warning you not release your coin when the buyer has not credit your account. Don't be too forward to release your coin if you have not confirmed that your bank account hasn't been credited.
- Secondly, you need to consider is make sure the buyer account is a verified account. Meaning the buyer must have been verified by the Binance management. How to know? They will be ticked after verification. Not that you can't sell or it's not safe to sell to unverified account but it's safer to sell to verified account.
- Thirdly, you have to consider the amount or number of trade the buyer has engaged in. This will make trading of your coin to be fast. The number of trading the buyer has engaged in speak alot about the buyer compare to someone who has just made few trading. It's not that you can't sell to them but selling to buyer who is not new in game.
The two above suggestions were just normal personal observation. It's not really stated by the Binance management.
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