Post
Topic
Board Scam Accusations
Re: Gate.io scam? Seeking advice
by
Arrrvin
on 25/04/2021, 06:57:47 UTC
Info on RBTC (I saw a question about that) can be found at https://blog.rsk.co/smart-bitcoin-rbtc/

Why I was using RBTC instead of BTC and why Gate instead of another exchange? The questions are sidetracking the subject, but for the complete overview I can answer them.

I wanted to buy SOV [Sovryn] at their own DEX listing. For that I needed RBTC. However the SOV price rose so much that I considered it might be more profitable at that time to buy eXRD with their upcoming betanet and first mainnet. So I had RBTC and wanted to trade that for eXRD. I just finished trading some small tokens for eXRD at Gate and noticed it was possible to deposit RBTC as well. So to keep all eXRD in one exchange and then transferring it to my wallet in one transaction I thought I might as well do the trade on Gate (otherwise my choice would have been BitFinex). Gate is a tier 2 exchange and lists today #5 at CoinGecko. I've been trading small coins there for years, now and then, without any problems. I thought Gate would be as trustable as BitFinex and KuCoin. I never suspected they would put such a trap where you can get in but not out.