I guess I wasn't the only one who was looking for a push to listen to the voice telling one to withdraw that BCH into a more trusted wallet. I've been harbouring fear for some days now. After transferring my BCH to Nexo to get daily interest. But contrary to what I expected, it wasn't a daily 8% interest rate but a compounding interest plan.
The interest wasn't the reason why fear set in but the fact that I could lose my phone. Have issues with my mail or anything. Not your key,not your coin. I tend to overthink some things, so pardon my absurd way of thinking. I know the app has a backup plan/insurance and if ever the site gets hacked all funds can be refunded. But the fear was still there.
"Valour why don't you just transfer it to bitcoin.com and have your seed phrase written with codes and kept in various places?" I kept asking myself.
The final nail on the coffin was when @MoreGainStrategies dropped a post about it on noisecash and then an article. I decided to withdraw all my assets from Nexo to my Bitcoin.com wallet. Let me just hold and venture into trading on Binance as planned with just a little amount. The site gives the chance of 1 free transfer in a month, so I couldn't test run with a little amount because the next will require a transaction fee.
I tried withdrawing but it kept on bringing out "Withdrawal address is invalid". I decided to transfer to my Trust wallet and then back to Bitcoin.com. But it persisted.
At first, I was scared but I remembered @Fexodine1 once talked about changing wallet address to the suitable one for each site. I messaged him but he wasn't online. I decided to ask PVM and he said I should use "legacy wallet" while I was trying to find out what it means I saw a message from Sir Fexonice. He asked me to use the cash address to convert my wallet into the desired one. My reply was "Okay, I'll "the same way I replied PVM. But I googled it and was directed to the Bitcoin.com site
Special thanks to the two of them.
Being a "mini doubting Thomas " I copied the new address but tested it by withdrawal a little BCH from my Cctip wallet. Within seconds it came in and off I went to Nexo to transfer all my Bitcoincash out.
A few hours later I saw @bmjc98 's article " sent 1.55bch back to bitcoin.com". I smiled to myself and took a little comfort that I wasn't the only one that had the thought but needed a little push. lol.
Also in her article, she mentioned how one can have the seed phrase written down and the wallet deleted. But have the receiving wallet address somewhere so that you can transfer more to it now and then. This was the exact advice the noisecash chat head gave someone about 5 months ago. The user said he aims to get to 1BCH and he doesn't know how to keep himself in check. He was asked to follow the aforementioned strategy and buy as much as he can buy at intervals. I hope he followed the advice, if he did- I'm sure he will be a proud 1BCH holder right now or even more.
Leaving my BCH in Nexo wallet could have yielded more, though little, it was something. I earned $0.50 for keeping over 1.1 BCH there for a week. But the constant fear would make my BP rise at this age of mine. It's better I store it in a place where I can leave it for years without being scared or sad. I don't want to be sad - I want to be an HappyBoy for life. 😂
Thanks for reading!🤗🤗🤗
Disclaimer: This is not a campaign against custodian wallet or investment apps. I know a lot of people who do and constantly make a lot of profit from it. All you need to do is to verify your account and have your password written down.I also want my coin to work for me while I sleep. I can't just put my eggs in a basket. All my eggs in this case.
Thanks@CoquiCoin for the sponsorship renewal. I'm grateful.
You just gave a good strategy to save my BCH earning when I start earning from the Big guy. It's like creating a bank account without collecting a debit card or chequebook. It will help control the urge to withdraw from the account.