15k ecoin tokens; now what?

Howdy folks, how did you spend your Saturday? The early hours of mine was spent trying to sell off some ecoins I have being hodling for over 2 years, I even forgot about them until recently.

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A little backstory

I don't know if y'all know about ecoin but they did a campaign some years back where the tokens were awarded to people for signing up and also referring more people.

I registered in 2019 and I also invited a lot of persons, but not all of them verified their accounts. Back then it didn't have any value and wasn't listed on any exchange, so all we did back then was just accumulating the tokens in the hopes that we can sell them off when they get listed.

Over the years they started rolling out different features like a wallet app (wombat wallet) for each users to keep their tokens, savings account that accumulates interests every month, daily raffle tickets for hodling at least 1000 ecoin tokens in the wallet, and lots of other features.

I moved all my ecoin from the current account into the savings account so I could be accumulating interests every month then I also sent about 2000 ecoin to the wombat wallet so I can be getting daily raffle tickets.

I forgot all about ecoin for over a year because there was basically nothing for me to do except hodling. Earlier this week, I was reading messages in a WhatsApp group when someone suddenly said 1000 ecoin was selling for $10 on hotbit.

Whoa! I read the message over and over again and concluded I have to go see things for myself. I couldn't remember the login password for ecoin website but I saved it in my chrome browser, so that was where I went to next.

After logging into my account, I met 13000 ecoins there and over 400 raffle tickets. Scratching the tickets gives you a chance to earn extra ecoins, so I did that and got 2k+ ecoins, bring the total amount to 15,175 ecoins.

I noticed I have over 11000 ecoins in other balance, and apparently I can't touch it because it's from my referrals who haven't being fully verified.

I immediately started looking for ways to withdraw the entire 15k+ ecoins since they said they have stopped the savings feature and so I can no longer be getting interests for hodling.

But before withdrawing, I first had to check the price of ecoin on probit. When I checked, the price of ecoin/usdt pair had dropped from 0.01 to 0.008, which means 1k ecoin will now give me $8, still not bad.

The wombat wallet

Remember I said I had about 2k ecoin in the wombat wallet? Yes, I needed to retrieve my wombat wallet so I checked my Google drive to see if I saved it there, I couldn't find it. I figured maybe the wallet didn't require seed phrase, so I downloaded the app first to see what was required.

After installing the app, I discovered I didn't need a seed phrase to retrieve my wallet, I just need to log in with my Gmail account. After logging in, I saw the 2k ecoins there so I guess that problem was solved.

Opening a probit account

I knew if I want to start trading on hotbit, I have to open an account first. After putting my email and other details, I tried to sign up but I was told I already have an account. When did I do that? No idea

I tried to login in with my email and a password, and I was told I have to verify the browser I was using so they sent an otp to my email. I entered the otp on the site but got an error message. I tried several times but I kept getting the same error.

I reasoned maybe the account has issues since I haven't used it before, I can't even remember when I registered it. I used another email to open a new account and I finally got in.

The UI looked simple enough and after reading the guidelines and rules of the site, I decided to test it out with a few ecoins. I went to my wombat wallet and sent just 60 ecoins, and in less than 2 minutes it reflected in my probit wallet.

I went over to trade and after inputting the amount of ecoin I want to sell (100%), I tried selling but I was told that I need to sell at least $1. I went back to my wombat wallet and sent another 500 ecoins and I tried trading again.

After selecting 100% ecoin, I tried to sell again but was still told that it should be at least $1, but what I was selling was more than $4 so I was wondering what could be wrong.

It was then I noticed the price was 0.001, so I changed it to the current price which was 0.008 then the total value became around $4.5, then I clicked on sell.

I could no longer see the 560 ecoins, but I wasn't seeing any USDT as well! It looks like I made a mistake and all that ecoin is gone. I checked my wallet balance and the ecoin was still there, but it wasn't appearing in the trade window.

I carefully observed the trade window and discovered the trades aren't executed instantly, it was a sell/buy order limit. Luckily for me I knew what that means, thanks to my knowledge of forex trading.

It simply means I will have to set a price that's different from the current price and the trade will excute as soon as the current price hits my target. I went over to the open orders tab and cancelled the trade. Since the current price was 0.008, I set the limit price at 0.00798

All these were carried out at about 2am in the morning so after I placed the sell order, I went to sleep. When I woke up a few hours later, I quickly ran to probit to check out my trade, and I saw the price of ecoin has dropped

I checked my wallet and saw 4.4 USDT there, the trade was executed as soon as the price dropped to 0.00798. I was excited about the way things turned out and I planned on trading a large amount of ecoins, but first I had to see if I can withdraw the USDT I have.

Things have been going smoothly (too smooth) and I was expecting things to go wrong at one point. When I tried to withdraw the $4.4 in my probit wallet, I got ambushed by this message.

Oh well, if I trade 10k ecoins at the current price, I will have 77.1 USDT in addition to the 4.4 I already have which will bring the total to around 81.5 USDT, then I can finally withdraw. Looks like a solid plan, time to go get the ecoins

I went back to ecoin website and tried to withdraw 10k from the 15k ecoins in my wallet, but I got slammed with another disappointing message.

I came back after some hours and tried it so many times but it still showed the same message. This is a huge roadblock, maybe they don't work on weekends? But for now, I can't withdraw any if the ecoins but I will keep checking to know when I can withdraw.

Wrapping up

As it is now, I have about 15k ecoins which is worth around $100+ but I can't even withdraw it. I guess I will be able to withdraw later on

Just in case you haven't heard about ecoin before now, you can read all about it on their site. I think they are still giving free ecoins to new users, so you can take advantage of that and sign up 😉

Note: the above link contains my referral code, so I will be rewarded with some ecoins for each person that signs up and gets verified.

Thanks got reading 💗💗💗

Saturday 16th October, 2021