A Costly Mistake to Avoid in Crypto

The biggest mistake that one could make in selling their assets, either NFTs or coins, is to sell at a lower price due to typographical error.

A Bored Ape recently sold for just USD 3,000 instead of USD 300,000. This could be a result of being in a hurry to sell, missing some zeroes without realizing it before hitting the sell button. Months before, some users tweeted about selling their NFTs due to differences in the use of comma and period in some marketplaces.

It is important to remember that some users have their bots ready to sweep NFTs being sold at extremely low prices compared to their floor price. Basically, these bots are just waiting for a user to make that one fatal mistake.

However, this mistake is not only confined in exchanging or selling NFTs. This could also happen during swapping or exchanging when a user mistakenly set the gas fee thinking it was for the amount to be sent. A user paid more on gas fee than the amount sent a few months ago. A year ago, a user also paid more than one hundred thousand dollars worth of ETH just to send less than an ETH. At that time, ETH was just a little over USD 400.00.

So how do we avoid these costly mistakes? Always double check the fields where you are entering the details. It is always better to familiarize the extension and dApps before using them. Also, avoid making transactions when you are at the height of your emotions, sleepy, drunk or tired or any other factor that may affect your senses.