Bytecoin and Binance

Bytecoin ( BNC ) was listed on Binance not too long ago

I watched the price rise up pretty high

Some people probably lucked at with 25x gains. Then it seemed alot of people started to FOMO. I witnessed in the Telegram channel for Binance, that people had lost everything as soon as it started to tank. While I chose to not partake in this, because I had a feeling it was about to start crashing, I kept seeing the same theme repeatedly.

I lost .5 BTC
Binance locked this because it's a greedy scam.
I can't believe all my ( Insert coin here ) are gone

Don't have more money in, than you can afford to lose

Binance did start locking funds from coming in. This was likely due to the substantial price difference between BCN's listing in Binance compared to other exchanges. I repeatedly saw people sending more and more in, thinking that they were still going to cash out at 10x the gains. Wrong. It's gone, it was an increase that only occurred for a few hours. Only people who'd already had them in there really benefited. This goes back to my main point. Don't start buying when it's high, don't spend more than you can afford to lose.