Paid $5 For A Mistake

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Avatar for Shohana
2 years ago
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Recently I've verified my binance account. So I just tried to send my BCH (as dollar) to my binance wallet. Everything was fine but when I put the wallet address it was showing that we can convert the address to the right format by following the link cashaddr.org and there I've covert the binance wallet provided BCH wallet address and complete the process.

My $5 gone from my balance but unfortunately it doesn’t reached to my binance wallet. Basically I take dollars to my coinbase but binance account help me to get my crypto directly to my local currency in my bank or personal mobile app wallet. I think it was a mistake. That $5 I lost and there is no hope to get back because other transactions I found instant but it almost 8-9 hours that money lost.

screenshot

This is the notification I got and followed cashaddr.org to convert the wallet address in right form and used it. But I was not ready for such unexpected lose. Thankfully the amount was only $5 not bigger than that. No problem, my mistake can be considered as a lesson. But I'm still curious that where my $5 gone?

Not sure if that $5 will be paid to my binance wallet or not. This is my first silly mistake in cryoto currency exchange. I can't remember that I ever made such mistake when transect crypto. I think coinbase is good and having easy features to understand everything easily. Binance is not that difficult but not that user friendly. So, if I get back my $5 I'll keep continue transaction to my binance wallet or else I may keep continue with coinbase. Its enough trustworthy and easy to use.

If you ever experienced such unexpected things, let me know in comment section of this article. Share Your experience, that can help others. I'm really very curious that where my $5 gone? No need to get back my money but at least I want to know where it is.

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Avatar for Shohana
2 years ago

Comments

Binance is using legacy address of BCH so if you will withdraw, you only need to remove the “bitcoincash:” in you wallet address. In deposit, you can use the actual address from Binance if you will transfer BCH from bitcoin.com to Binance.

You also need to use the correct network.

By the way, wat are you going to do with $5 in Binance? If you are planning to trade, the minimum amount should be $10. You cannot trade with $5 in Binance.

I hope this will help you. Feel free to contact me on Twitter if you need it.

$ 0.02
2 years ago

Actually I was testing the transaction and I lost $5. Is there any way to recover my $5? Thanks

$ 0.00
2 years ago

What wallet did you use? Kindly include the transaction here, maybe it's not done in confirmation.

$ 0.00
2 years ago

no its done these is no pending information

$ 0.00
2 years ago

I lost my 1.5 dollars yesterday when i sent it to binance address, now ita confirm that binance is not suitable for read.cash withdrawal

$ 0.01
2 years ago

You are wise that you tried small amount. I've lost $5 but Alhamdulillah read.cash helped me to recover.

$ 0.00
2 years ago

Yes your this article recovered your loss. Congratulations to you for this gain

$ 0.00
2 years ago

It is better to double-check to make sure you are sending your money away to the right address and the amount as well. Remember that BCH has SLP tokens which are not the same as all over conventional BCH transactions. I have committed some mistakes as well even when I am already 5 years and more creating transactions I guess we are all humans and bound to make mistakes, just try to minimize them by double-checking.

$ 0.01
2 years ago

Tbh Binance is the worst place for me as well. I also sent 10 dollar long ago but can't withdraw untill now

$ 0.01
2 years ago

Once I also lost approximately 9$ amount because of the address mistake. And I did not even got any refund. But from then I check after copying adresses and I can suggest you trust wallet from there you can send into Kucoin exchanger.

$ 0.01
2 years ago

Thank God it was 5$ one time same happened to me. Sent to an address but didn't reach. So I always try to send small amount and verify

$ 0.01
2 years ago

I've been withdrawing for many years to the fauset pau wallet. Reliable. I do not use the exchange binance . And did not encounter such a problem as yours.

$ 0.01
2 years ago