Bad experience using TRC20 Network
22 February 2022, Tuesday
As a Bitcoin Cash user, I had a rough idea of how to convert Bitcoin Cash to Fiat. All you had to do was use a website to easily convert Bitcoin cash to local currency without any additional fees. Approximately $1 BCH to convert to local currency is 88 Taka. Over the last two years I have been converting from Bitcoin Cash to local currency at the rate of 88 TAKA.
Yesterday a younger brother of mine said to me "Why do you sell bitcoin cash at such a low cost? I sell bitcoin cash per dollar at 90-92 taka rate. I am very greedy because if I sell bitcoin cash at 90-92 taka rate there Then I transfer $ 60 bitcoin cash from bitcoin.com wallet to binance wallet in the hope that I will get a fairly good profit in local currency. Yes, and that made me feel quite uncomfortable. However, after 40 minutes I got the desired amount in my balance because I was worried that "Bitcoin.com wallet has bitcoincash: at the beginning of the address of bitcoin cash: but there is no such thing in Binance Wallet".
Since cryptocurrency transactions are completely illegal in our country, we have to sell dollars in conjunction with some illegal sites or dealers and convert them into local currency. Since there is a slightly lower price on local sites, I agreed to send USDT to a dealer for 88.5 TAKA per doller. Which is 0.5 ($0.01) TAKA higher than the various illegal sites. The dealer is then met in the telegram group and he gives me a trc20 address to send USDT. If I had never been familiar with this network and had never traded before. Since my money was urgent, I decided to send her $20 USDT without fear. But I was not at all ready to see what I saw while sending $20 USDT. A fee of $1 is required to complete a transaction on the trc20 network. You can see the details in this screenshot below.
Now maybe people in BTC, ETH community will laugh when they see my network fee of $1. Because they pay over $10 as network fee. But I have become very stingy when it comes to paying network fees using Bitcoin Cash. Which is why the $1 fee seemed like a lot to me. Maybe using BTC or ETH in their network would make me feel like space or moon or sun. I mean, where I needed $20, I got $1 less $19, which feel me sad. Because to earn this $1 from noise.cash platform I have to work hard for about 1 day. Haha. Another thing that was very sad was that this 20 was about 0.07 BCH. I had to sell it at about 3x less than the normal price of $50- $70, which I didn't want at all. But the financial crisis forced me to convert to local currency. But that is not the end of the story. The average market price is $120- $150, but now I have to sell it for only $40. Of course this money has to be paid to support my family, which is the most valuable thing to me.
This is it, Hope you will not shift BitcoinCash to other network. Because I'm guaranteed that, you will never love those network as a BitcoinCash user. Because "Because you will feel stingy when you pay the fee" hehe
While writing this article I got a notification about reaching thousand views! Yeah, I got my first thousand views on read.cash
Oops, my network connection is very poor, can't upload the picture. Haha
Thank you for reading. Best regards
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I have been selling dollars on an illegal website for over a year now but have never been a victim of fraud. But every time there is a risk. Per $=86.