Sent 1.55BCH Back To Bitcoin.com

This article was inspired by @MoreGainStrategies's noise post last night. Thanks for your post, I learned something new last night. Most importantly, thanks coz it helped me realize to do the thing I've been wanting to do for quite some time now.

So before we tackle that nerve-wracking and heart-stopping experience, let me just share with you something about last night. Well, I was trying so hard to stay awake while working for long hours. Then I saw his post on noise, which also helped me convince me to do it as soon as possible. Here's the post:

His post has served as a sign for me. As mentioned above, there's something that I've been wanting to do for quite some time, and that's to transfer all my BCH back to Bitcoin.com wallet. I wanted to do this is to secure my Bitcoin Cash against hackers and other issues that any exchange would encounter.

Martin made a more detailed article here, so be sure to check this out: I Finally Pulled It Out! No More CEX for Me! #nofap

Thanks to Martin, I also learned about a new method to secure your HODL through a paper wallet. I didn't fully understand what a paper wallet is, though, I have a feeling that it involves writing your seed phrases on a piece of paper.

So what does a paper wallet means?

I was right but what confused me was when he said "but it's not installed on any device that I use." Luckily, Martin was up for a little tutorial and was ready to explain it a little further.

According to Martin:

You can create a new wallet in the Bitcoin.com app. Write the seed phrase on a piece of paper (and keep it safe). Then send your BCH to that wallet and delete the wallet from the app.

But make sure not to use the piece of paper! 😅

So basically, you create a new wallet on Bitcoin.com, copy the seed phrase on a piece of paper and keep it safe no matter what. Send your BCH to that wallet and delete the wallet and just wait until you decided that it's time to reap what you sow.

Why delete the wallet though?

Well, if you're intention is to HODL your BCH without taking profits and just wait until the price goes $5,000 - $30,000, then this strategy is ideal for you. Just be sure you have your seed phrase and keep it safe. However, if you're someone like me who likes taking profit every time the price pumps, then you can have both: a wallet intended for HODL and follow the strategy I've just mentioned and a wallet that you can use for taking profits.

Well, it all depends on you, but I think it's also a good way to secure your main HODL wallet against the possibility of losing your phone. Imagine if you own more than 10BCH, and you accidentally lose your phone. That would be a disaster! Anyone could just send those amounts to their wallets, or they could just convert them all into fiat.

Keep in mind that it only takes less than 1 minute to send everything to their wallets.

Sent my BCH back to where it belongs

You probably have heard about this already as I shared this first on my noise post.

So after chatting with him last night, I decided to send mine back to where it belongs. On Binance, I had a total of 1.60BCH, mostly profits from my other wallets. I've been wanting to do this, but I was just not ready yet as I was hoping to use them for Spot Trading.

But because of his post, I realized that it's better to secure my BCH now before something unexpected happens on that exchange. I know Binance is one of the most-used exchanges in the world of crypto and probably one of the safest to do your transactions but better be safe than sorry. As they say, invest what you can afford to lose. Well, 1.60BCH is something I can't afford to lose.

So after our conversation, I immediately renamed one of my empty wallets on Bitcoin.com, checked Binance, and sent 0.002 right away. As mentioned in my noise post, I didn't receive that amount because I used the wrong format of the BCH address. I was kind of sad even if the amount was just 0.002BCH because as I've always said, every amount matters.

After that first attempt, I decided to wait for the others to ask about the format whether to use the legacy address instead. I'm glad @Eybyoung replied and explained to me what to do. This time, I knew what to do. I then copied the legacy address for that wallet I renamed "Binance." First, I sent 0.002 as it is the minimum amount to send. In just more or less 5 minutes, I already received my BCH.

I sent another one again, but this time, it was 0.003 just to be sure that what I received was from the latest transaction. Again, it came right away, and was so ready to send everything on Bitcoin.com. Oh, wait, not everything but just 1.55BCH coz the 0.05 was left for Spot Trading. So I carefully pasted the legacy address (minus the bitcoincash: at the beginning of the said address), double, and tripled check to ensure everything was perfect.

After checking everything, I then tapped that send button. After a few minutes, there was no sign of my latest transaction, and that's when I got panic. It felt like I was about to have a heart attack. I kept checking my phone for a notification, but there was none. So I decided to leave the room where I watched a movie with the family and went straight to the bathroom.

Negative thoughts started rushing into my mind. I was like, "I wished I didn't send them all in one transaction. What if I won't receive the amount? What will I do then? That 1.55BCH was no joke!" We both know that 1.55BCH for some of us here feels like millions already. Losing that would be a downfall for me. Even if I would get to earn that amount again, I'd still remember that amount and how I lost it.

Until I heard a beep this time. When I checked, it was a confirmation that it was already in my wallet. Yay! I doubled check just to be sure and yes, there it was, sitting pretty on its new wallet. Thank God, it went home safe.

Now, what's my next move?

Since I love taking profits, I won't delete that wallet or any of my wallets yet. I will still grab this opportunity to take some gains until the bullish market is over. When it's time for the bear to dominate the market, then that's the time I would delete that wallet.

Will I still be using Binance?

Yes, I will still use Binance, but this time, I'll make sure to send everything back to Bitcoin.com every time I earned $100 from doing the Spot Trading. Right now, I've still got a few coins and a little amount of BCH on Binance.

Closing thoughts

Until now, while writing this, I'm still a little nervous. My heart is still beating so fast. I think this experience has just caused me a little trauma. Lol.

Okay, I should probably sleep after this article and just read all your comments tomorrow. I'm still exhausted after that 10-hour work last night. I finished everything before 8 this morning so I still need a lot of sleep now. Plus, with this experience, I don't think I should stay up late. My heart and brain deserve a good night's rest.

Checked using plagiarismdetector.net, and it's deemed 100% unique.