Don't make such mistake while transferring you online money from (BCH) to (BTC)

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I want to share this article with you and for newbies as well. On how people mostly make mistakes while transferring their online wallet money to the wrong address. And I also want to share my experience so that newbies can learn from it as well.

Bit coin cash is a cryptocurreny that can't transfer BCH direct to BTC it can only transfer to

Bit coin (BTC) is also a cryptocurreny that can't transfer your money from BTC to BCH but can transfer BTC to BTC.

I wanted to send my online wallet money to my luno wallet where I can withdraw it to my bank account. At first when I created my luno address, it was on bitcoin (BTC). Then I did not change it to bit coin cash) BCH). I went straight to my online wallet which was (BCH) and paste (BTC) address on it without knowing that it wasn't changed to (BCH) address. I sent the money and saw successful, then I went to check my luno wallet if I would see incoming transaction. But to my surprise there was no incoming transaction, while in my online wallet it was successful. I didn't know what to do at first because I was a newbie. I contacted my friend that introduced me to read cash. I screen shot the transaction links and that of my luno wallet and sent it to him on WhatsApp. He gave me a feed back telling me I made a mistake by not changing my (BTC) to (BCH) in my luno wallet before pasting the address to my online wallet.

I regretted taking such steps before consulting him and that was I lost my money. And I have learnt from my mistake as well. I can now transfer my money anytime I want without loosing my money.

So please newbies if you are new at read cash and also not good at transferring your money don't hesitate to ask questions. And also make sure you were taught well on how to make use of read cash, so as not to transfer your money to the wrong address so you won't loose your money. If you don't know how to do transactions, consult the person that introduce you to read cash before taking such steps. I guess you've learnt from my experience so as not to fall victim. And also feel free to ask what you aren't sure of. Or you go and read more about READ CASH for more explanation.

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Comments

It is true. This information is very useful for the newbies in the cryptocurrency industry. Thanks for discussing it.

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4 years ago

One of the most common mistake that many people make is wrongly mentioning the address. The key to remember is that each crypto has its own address

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4 years ago

I also had problems transferring my money when i was a newbie at read cash. but I consulted my friend at that time and he explained it well to me and I did the transaction without loosing it. Thanks your article was great

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4 years ago

I don't understand how you could have made mistakes. Doesn't the luno wallet use a CashAddr address?: Example:

bitcoincash:qrc5ae8lhgzve2wsap5fah8gmjqanqughut9902jps

This address always has "bitoincash:" at the beginning, you can't go wrong.

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4 years ago

But it is okay if you're going to convert it? BCH to BTC before make a withdrawal?

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4 years ago

This is a bit funny though it's something serious.... Newbies need to take note of this because imagine of the amount you wanted to transfer to your wallet was huge... then it would have been a great loss

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4 years ago