Coinbase Reimburses Losses On Ethereum Crash !
In my previous article Ethereum Crashed From $319 to 10 Cents ! I said that traders lost a lot of money because of the fast crash.
Well ...
Ethereum traders have a guardian angel, and his name is called Coinbase ! According to GDAX, the digital currency exchange run by Coinbase :
"We will establish a process to credit customer accounts which experienced a margin call or stop loss order executed on the GDAX ETH-USD order book as a direct result of the rapid price movement at 12.30pm PT on June 21, 2017. This process will allow affected customers to restore the value of their ETH-USD account to the equivalent value of their ETH-USD account at the moment prior to the rapid price movement."
That means :
- all executed buy orders won't be reversed.
- margin calls or stop loss orders executed will be reimbursed using company funds.
I still stay on my position concerning cryptocurrencies:
Don't be a trader ! Be an investor !
Keep your positions for long term, because next time maybe nothing will be reimbursed !
Tell me your thoughts in the comments !
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