Crypto ticker symbol confusion?! Pay attention to your trades :) A cautionary tale.

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As many of you know, the alt-coin market is growing... err... exploding. According to Wikipedia, the number of cryptocurrencies is approximately 1384 as of January 2018. The excitement is palpable as social and mainstream media are exposing the crypto market to the general populace.

However, the crypto market is certainly not without its "nuance"... or bluntly, its confusion.

I thought I'd relay a recent experience regarding a coin analyzed by Hive account@haejin (CMT). After reading a post by Hive account@haejin, I tend to initiate my own analysis. From exploring the technology through their site and whitepaper, to checking charts on TradingView. However, in this instance I was left perplexed. Interested in a potential investment opportunity, I checked my normal exchanges for CMT. Again, as many of you know, grabbing a promising or investment crypto normally requires accounts on multiple exchanges. Binance, for instance, lists both BTC/CMT and ETH/CMT.

This is where things get a little weird.

Apparently, the crypto ticker symbol CMT is used for both Comet Coin and CyberMiles... and as it turns out, Binance has CyberMiles listed as CMT. This was NOT immediately obvious on Binance, given their basic and advance trading views don't seem to list the full name.

Hopefully this is an isolated issue, but it is a problem that could cost us hard earned dollars. As always, stay vigilant and I wish us all massive profits!

Hope you enjoyed! If you know of any other confusing ticker symbols don't hesitate to help and comment below :)