Yes me too.
Steemit Adventures #1
Just holding, not moving the funds from the exchange and nearly forgetting about it? Sounds familiar?
What happens really when an centralized exchange removes a cryptocurrency from its trading platform?
What the users/traders see:
- The cryptocurrency is not tradable anymore
- Funds can not be touched / withdrawn
What i think:
- The exchange holds the private keys which means that they have full access to the wallet.
- As soon as the cryptocurrency is delisted, the customer support of each exchange tells you that the funds can not be retrieved in any way (?)
- Are the funds kept by the exchange and do exchanges sell off the cryptocurrencies at some point. Could this cause price manipulation? Or are the funds lost forever?
ToDo's:
Write each centralized exchange
- what happens with the funds if a cryptocurrency gets delisted
- how early they contact the customers and how much time they get
This will be my side task for the next couple of weeks, just to keep myself busy!