In this opportunity I will compile a series of mistakes made by me, that in the personal thing to commit them I believe that I have lost the opportunity to take advantage of many opportunities, this happened to me, and it is more common than many people believe, that is to say that also it can happen to you.
Let's start chronologically what they have been:
In the middle of 2014 I started in this world of cryptocurrencies, I barely understood how the block explorer worked, a wallet, besides the different types of wallets, I always used to read that you should keep your private keys with you, obviously it is not very relevant for me at that time.
Then I usually had wallets online, one day I found out that the wallet where I had stored hundreds of altcoins had been hacked, the online wallet was called "Coinwallet", they gave the keys to each account owner, unfortunately not knowing how to restore the wallet using the beep protocol they said, I could not recover my tokens.
A long time later, in 2017, I desperately tried to find a way to get them back, but I couldn't get at least hundreds or thousands of dollars.
Another error, once I made a transfer and I missed the memo and the currency, luckily that error was within an Exchange, ie bittrex, with steem and sbd, I sent steem to my sbd address, luckily the technical support was able to return the coins, after many months.
The list of errors follows, the most common mistake we all make is not being interested in trading, using exchanges to take advantage of the volatility of the markets making simple trades with the currencies we know, I remember that my first time, I bought a currency that I saw in -200% in red, I bought $20 in that currency, time passed and I never took the price even close to what I bought, not to mention that with currencies that I knew not being in the habit of trading I missed profit opportunities.
But that's not all, keeping the price high and not passing it on to you is a mistake that cost me dearly, and I think this will be one of the mistakes that many new investors can make.
Now the mistake that adds to this long list, usdtether from bitcoin cash using the SLP protocol, let's start by analyzing what my mistakes were:
Make a transfer sending all the funds, without first trying with a smaller amount to see if they arrive, it is better to lose a part than to lose everything.
Not understanding enough how a protocol works, and which wallets support that protocol, my case does not understand how bitcoin cash SLP works.}
How did this happen?
When I came in here to see what the token deposit was, I saw that finally there was something that accepted tether using the slp protocol, I've been looking for weeks for something to change those usdt for something else, so I went to: https://sideshift.ai
I did the process of sending usdt by bitcoin cash, then I went to memo.cash where I had the 65$ tethers, I proceeded to send it.
To my surprise, the result was what I was not expecting:
https://memo.cash/explore/tx/d32cafd4b8a93212708991095e3f7d89052a80f6e171ef20c8a351de63c76526
Apparently a memocash address was created, and they never got to: https://sideshift.ai/orders/b1fa7f87086981e1ec6a
That is, I sent them into the void, into nothingness itself.that's how i lost 65$ in usdtether of bitcoin cash in the slp protocol!
What did we learn?
- We should keep the keys, bin files in different places, and forms of storage.
- We should as much as possible own our wallets to avoid depending on third parties that may affect our funds.
- We must learn to restore wallets, that is to say, to use the bin file that we obtain when we ask for the keys.
- In the case of bitcoin cash, the wallets are dated, and they also have a beep protocol, every detail counts.
- Understand how trading works, market, exchanges and take advantage of our capital but without making absurd moves like investing in currencies that you do not know, always be educated.
- Investigate about wallets, exchanges if they are compatible using protocols.
- Do not send all the funds in one test, remember it is only a test.
It happened to me, it could happen to you or someone you know, if you found this article interesting share it.