Usually the crypto exchanges are absolutely accurate. Especially when we speak about balance.
Even here in it is very cool that you can see anybodies wallet and their current balance.
I’m going to show you how one of the popular exchanges is making a mistake.
This exchange name is Livecoin and it is legit.
Last week I bought 10 million tokens of Dimecoin ( One of my favourite cryptocurrencies) and I saw something very interesting.
For anyone who wants to buy some Dimecoins I reccomend you to buy it with DOGE because there is a significant difference.
I deposit 0.0019BTC in Livecoin which was about $19 in this day.
Then as you can see I traded my BTC to DOGE and then I trade them to DIMECOIN.
And now the magic is happening!
I have only those tokens right now and the exchange is showing me that I’ve got 1100$!!
Why is that? The answer is because of the fact that Livecoin is calculating your balance as 1 satoshi value on livecoin but Dimecoin is worth less.
It is good to know that because you can be very surprised when you see that your balance is 55 TIMES then the amount that you invest in.
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Cheers!