Topic: Make we dey check minimum deposit for exchange before sending crypto. (Read 294 times)
June 12, 2024, 02:48:24 AM
Op thank you so much for this wonderful information that you have bring to Naija board is really a welcome development but although I must tell you sorry for your lost, because e no dey easy for person to hustle true at the week at last the person come finally lose everything. na him make e be say all this exchange before one go send any Bitcoin we really need to do some research and check the minimum deposit to avoid being regret at last.
May 12, 2024, 05:59:09 AM
My people I dey greet una, abeg make una no vex for this my post. Na something wey just happen to me today I come say make I carry come here as e fit help other newbies like me. If post like this don already exists abeg make una let me know so I can delete this one. My fellow newbies abeg before we send our crypto to any exchange, make we do well to check the minimum deposit well before sending it to avoid asset loss. This thing dey very serious, as you won't recover this asset once sent. I learnt the hard way today as I paid for my mistake. Normally I never knew something like this was in existence as a newbie, I just thought you can send coins to an exchange without minding any minimum deposit. I sent 0.0002 worth of btc to an exchange, while the minimum to be deposited was 0.0009 and my asset got lost and never arrived. I waited for long and nothing happened and I complained to someone and he told me if I checked the minimum deposit before sending. That was when it dawned on me but it was too late.
I know say many newbies like me are unaware of this and I hope this post enlighten you on this, so you don't repeat my mistake in future.
I know say many newbies like me are unaware of this and I hope this post enlighten you on this, so you don't repeat my mistake in future.
OP, some us has been a victim of this, personally I lost money because of this act, though I didn't know but it was out of my carelessness as we know every exchange has minimum deposit and it is written boldly where we copy wallet, although we don't really know why they choose it that way but then that should not be our major concern, at all time our utmost concern is first of all to check the minimum deposit of any exvhange wallet we decide to use so that we wont be victim of circumstances.
When I lost the funds I tried chatting the exchange customer care, they told me that they have checked and my intended deposit was below their minimum deposit and at such it can't be deposited in my btc wallet that they are sorry for my loss and all was history, though it was part of learning to me, is just that I learned in a hard way.
May 11, 2024, 11:49:12 PM
My people I dey greet una, abeg make una no vex for this my post. Na something wey just happen to me today I come say make I carry come here as e fit help other newbies like me. If post like this don already exists abeg make una let me know so I can delete this one. My fellow newbies abeg before we send our crypto to any exchange, make we do well to check the minimum deposit well before sending it to avoid asset loss. This thing dey very serious, as you won't recover this asset once sent. I learnt the hard way today as I paid for my mistake. Normally I never knew something like this was in existence as a newbie, I just thought you can send coins to an exchange without minding any minimum deposit. I sent 0.0002 worth of btc to an exchange, while the minimum to be deposited was 0.0009 and my asset got lost and never arrived. I waited for long and nothing happened and I complained to someone and he told me if I checked the minimum deposit before sending. That was when it dawned on me but it was too late.
I know say many newbies like me are unaware of this and I hope this post enlighten you on this, so you don't repeat my mistake in future.
I know say many newbies like me are unaware of this and I hope this post enlighten you on this, so you don't repeat my mistake in future.
My brother this na correct update wey you bring come this our local board no doubt, because people don really fall victim of this well well, even me self, I been don fall victim of this late last year, my own na 8 dollar worth of Bitcoin wey I send too my kucoin account, not knowing that the minimum deposit for kucoin is set at 0.0002 Satoshi, which is almost 13 dollars at the current market price, I wait tire, the money no gree drop, but for my wallet, everything dy show say the transaction don go true, na as I ask one of my guy wetin fit cause why the money I send never still drop, na him come tell me if I check minimum withdrawal? I no just know wetin to talk, as him ask me that question, but After everything, I just take am as one of those terrible experience, because I learned the hard way.
May 11, 2024, 05:50:58 PM
I be don lost money before for exchange due to say I no no say Dem dey get minimum deposit and the worst part be say I still say make I top the deposit whether the one wey I lost go fit appear together but las las the two deposits just go issorite but if I check am for Blockchain i dey see say the deposit dey dia but for the exchange wallet nothing I dey see so e good make we dey confirm minimum deposit before we send crypto
In case of such scenario, (i.e please not that I have not done this before, and this is not a financial advise and should be done at your own peril), So just like I was saying, there is an article I came across sometimes while surfing the internet, where it emphasize that if happened to send a Bitcoin to an address below the minimum deposit, the best strategy to getting your lost fund back is to immediately re-send Bitcoin above the current minimum deposit, and by doing that, both the coin that was hanging and the second coin will both be deposited into your wallet.Example,
Assuming the minimum deposit of an exchange wallet is 0.0005 BTC, and you went about sending 0.0003 BTC (i.e below the minimum deposit), and the fund got stock in the Blockchain, the only solution will be for you to send exactly or above the minimum deposit (i.e 0.0005+ BTC), and then a complete fund of 0.0008 BTC will finally be deposited into your account.
Note: Don't try to send another half coin still below the minimum deposit (i.e to send 0.0002 BTC after sending 0.0003 BTC and it got stock in the Blockchain).
Please, not that I'm only saying this base on what I read only, buy have not tried it myself before.
May 11, 2024, 05:23:03 PM
To check the minimum deposit of an exchange wallet dey very good o because I be don lost money before for exchange due to say I no no say Dem dey get minimum deposit and the worst part be say I still say make I top the deposit whether the one wey I lost go fit appear together but las las the two deposits just go issorite but if I check am for Blockchain i dey see say the deposit dey dia but for the exchange wallet nothing I dey see so e good make we dey confirm minimum deposit before we send crypto and dis kind tin na im make wey to store crypto for non custodial wallets dey good because no matter the amount wey you deposit you go still dey see am for your wallet.
May 11, 2024, 04:03:12 PM
About this particular matter people no go really understand until the matter don really hit dem for chest na den dem go come know how e dey pain because me don jonz this kind jonzing before although the money no too big but unto say na money the thing still pain me well well and from that time up I dey vigilant like theif when I wan put money for any exchange because I no go wan experience the same thing twice.
I always stay active for results and I no go ever look down on any projects. Make we better focused on the market and know the projects to invest on. I know say loss na normal thing for the market and we no go fit prevent am from happening but as we de record losses, make we also de careful. However crypto exchange for the space, make we de extremely careful because the slightest mistakes go costs us. Anyhow, we go continue to strive for better results wey go make us smile. Sending crypto to exchange, make we first check the minimum deposit so that we fit run our transactions. 
May 04, 2024, 03:36:30 PM
This information no be only to newbies but also to old members who never understand the minimum deposit of an exchange.
You are right because not many people pay attention to minimum deposit amount, all the attention is usually given to minimum withdrawal but no one pay attention to minimum deposit. This is understandable because the fees for deposit is deducted from the sender so exchange do not really make much consideration about it except few that even set very low deposit limits. But if any exchange set 0.0002 as a minimum deposit amount then that exchange is a suspect because that is a big amount of money in local currency. When I checked that BTC in naira na #18+k so someone would just lost that amount to exchange. Then they are thieves and it is not encouraged to use.
0.0002BTC is not really much of a big amount for a limit. By today's price, that is about $13 which is not much. Most exchanges set their deposit limit to $10 which is fair though. 
May 04, 2024, 02:59:04 PM
This information no be only to newbies but also to old members who never understand the minimum deposit of an exchange. But if any exchange set 0.0002 as a minimum deposit amount then that exchange is a suspect because that is a big amount of money in local currency. When I checked that BTC in naira na #18+k so someone would just lost that amount to exchange. Then they are thieves and it is not encouraged to use.
May 04, 2024, 02:15:13 PM
About this particular matter people no go really understand until the matter don really hit dem for chest na den dem go come know how e dey pain because me don jonz this kind jonzing before although the money no too big but unto say na money the thing still pain me well well and from that time up I dey vigilant like theif when I wan put money for any exchange because I no go wan experience the same thing twice.
May 04, 2024, 01:58:20 PM
OP I've also experienced the same matter you mentioned. You are right that the minimum deposit of any exchange to send must be checked with the minimum deposit for the transaction. I used an exchange wallet to receive funds for the Signature Campaign. The campaign manager paid me properly but the money didn't reach my wallet. When I spoke to the support team of the exchange they mentioned the minimum deposit issue, later I understood why my wallet was not credited. We often use different exchanges for small transactions, whether you are a new or old user you should check the minimum deposit to make a transaction.
February 14, 2024, 10:34:48 AM
Sorry for your sad experience op, this matter wey you bring come na very important one and na something we suppose take seriously. Many at times we no dey take our time to check the minimum deposit for an exchange before we send funds because sometimes we fit don dey use a particular exchange for a very long time, so when we want try another exchange, we go just reason say the minimum deposit go be the same thing. But we fail to realize say minimum deposit dey different for every exchange and also the exchange fit make changes anytime.
February 13, 2024, 11:37:45 PM
My people I dey greet una, abeg make una no vex for this my post. Na something wey just happen to me today I come say make I carry come here as e fit help other newbies like me. If post like this don already exists abeg make una let me know so I can delete this one. My fellow newbies abeg before we send our crypto to any exchange, make we do well to check the minimum deposit well before sending it to avoid asset loss.
Na better talk you carry come ooo, my friend don complain about similar thing before, him send money go one exchange like that wey I no really know the name, the mistake wey him make say him no check the minimum withdraw for the exchange, since him don dey use the exchange before and him never get any deposit problem, but as him send dis particular money, the money hang ooo, e no enter him wallet, as him go dey do more research, na him the guy see say the money wey him send no reach minimum deposit, na so the money no go enter, and Wetin funny me pass be say, the guy no get any money for hand, and him really need the money. Dis minimum deposit for exchange na Wetin some people no dey carry serious, because even me I no dey check am before, but since my friend tell me about this, I dey always check minimum deposit, minimum withdrawal, the minimum amount wey I fit trade for the exchange before I go start to dey use the exchange, before na when person no get money, and you wan commot small money for emergency sake, na when things like this dey always happen.
February 13, 2024, 11:12:56 PM
Op, thank you for sharing this great information with our Naija local board, so our newbies will learn and not make the same mistake while sending their BTC to the centralized exchange. I will blame you for your loss because you refused to read what was written below the BTC deposit address to know the minimum amount of BTC you are supposed to send to that particular centralized exchange BTC deposit address. Also, anyone who is using a centralized exchange BTC deposit address to receive bitcoin should always check to be sure if the centralized exchange BTC deposit address is still the same as what he or she copied so that he or she will not lose his bitcoin due to the change of BTC deposit address in the centralized exchange.
You can blame me and I accept the blame. As a newbie there are many things am yet to understand in the crypto world. Am just beginning to learn as the day goes on. I never knew that there was anything called minimum deposit on centralized exchanges. I was just thinking it was just to copy the address and send it and it will get to the address. Well it's so sad that I learnt the hard way. 
February 13, 2024, 10:19:14 AM
Op, thank you for sharing this great information with our Naija local board, so our newbies will learn and not make the same mistake while sending their BTC to the centralized exchange. I will blame you for your loss because you refused to read what was written below the BTC deposit address to know the minimum amount of BTC you are supposed to send to that particular centralized exchange BTC deposit address. Also, anyone who is using a centralized exchange BTC deposit address to receive bitcoin should always check to be sure if the centralized exchange BTC deposit address is still the same as what he or she copied so that he or she will not lose his bitcoin due to the change of BTC deposit address in the centralized exchange.
February 13, 2024, 09:36:56 AM
This thread is being helpful in two ways to the newbies.
1. It will help understand the minimum required amount one can send through an exchange, when we read about the exchange terms and conditions, we could get more information concerning that.
2, This will also help in knowing what dust transaction is, and the minimum amount one can use to engage the use of the p2p network which most of the exchanges set as 10 usd.
All the information's provided above doesn't make the use of a centralized exchange go with high priority, if you're using them then you're at your own risk, no information with them including your asset id safe completely.
1. It will help understand the minimum required amount one can send through an exchange, when we read about the exchange terms and conditions, we could get more information concerning that.
2, This will also help in knowing what dust transaction is, and the minimum amount one can use to engage the use of the p2p network which most of the exchanges set as 10 usd.
All the information's provided above doesn't make the use of a centralized exchange go with high priority, if you're using them then you're at your own risk, no information with them including your asset id safe completely.
February 12, 2024, 08:13:33 AM
It's so sad that you have to learn the hard way my friend, because just of recent I also noticed a popular exchange which I normally use (i.e Remitano) also did increase their minimum BTC deposit from 0.0001BTC to 0.0005BTC, of which if you had been sending BTC with the old minimum deposit, and you continue now, then you are likely to lose your coin, hence, I thought i should just share this on this thread a new update and more reason to always check to confirm your exchange wallet minimum amount before executing a transaction. As whichever money sent, it considered as a donation.
I guess it will be alot better if you create a thread about it because only few will see this while there are many of our members here who use it and I don't think that alot of us using Remitano will observe that changes in their terms and conditions (TOC) . Among the TOC, the question of minimum deposit or withdrawal limits and what is required to be eligible for withdrawal is sometimes ignored by customers until we fall victim of it we don't usually care about this. All we want is to quickly get things done fast and then missed key things for it to be successful.
Even if the entire TOC is too bulky let's try least to the TOC of
- withdrawal limit and eligibility
- Deposit limit
- data usage and privacy
February 12, 2024, 05:28:16 AM
Very disheartening that is why knowledge and good information is very important in every thing one is engaged on. I will thank you for this information those I have not fall victim but is good one take cautious as it has happened to you. This implies that before sending BTC to any exchange one need know their minimum and maximum requirements as per the exchange.
February 12, 2024, 02:08:32 AM
Sorry for that kind experience u really don learn the hard way, one thing about this thing too be say you fit wan send and you get that minimum amount for your wallet but if them remove the fee you go see say the amount go reduce before eh go reach the wallet and eh go make am no they credited.
If the case nah still recent one I go advice you make you never too lose hope like that this na same wallet you send am to but eh no just reach the minimum I go advice you contact there support share the TX give them if nah exchange way they reasonable them go help you credit am manually but them go warn you make you no make that kind mistake again next time. First try contact them first before you lose hope finish say the money don go.
I did exactly as you have instructed, but the exchange replied me and said that there is nothing that they can do about it. All they said is that I should be careful when next am depositing to make sure I deposit the minimum amount. Thank you very much, at leat I did something to fight for my asset. I just have to be very careful next time. If the case nah still recent one I go advice you make you never too lose hope like that this na same wallet you send am to but eh no just reach the minimum I go advice you contact there support share the TX give them if nah exchange way they reasonable them go help you credit am manually but them go warn you make you no make that kind mistake again next time. First try contact them first before you lose hope finish say the money don go.
February 11, 2024, 05:21:12 PM
It's so sad that you have to learn the hard way my friend, because just of recent I also noticed a popular exchange which I normally use (i.e Remitano) also did increase their minimum BTC deposit from 0.0001BTC to 0.0005BTC, of which if you had been sending BTC with the old minimum deposit, and you continue now, then you are likely to lose your coin, hence, I thought i should just share this on this thread a new update and more reason to always check to confirm your exchange wallet minimum amount before executing a transaction. As whichever money sent, it considered as a donation.
February 11, 2024, 02:06:31 PM
Sorry for that kind experience u really don learn the hard way, one thing about this thing too be say you fit wan send and you get that minimum amount for your wallet but if them remove the fee you go see say the amount go reduce before eh go reach the wallet and eh go make am no they credited.
If the case nah still recent one I go advice you make you never too lose hope like that this na same wallet you send am to but eh no just reach the minimum I go advice you contact there support share the TX give them if nah exchange way they reasonable them go help you credit am manually but them go warn you make you no make that kind mistake again next time. First try contact them first before you lose hope finish say the money don go.
If the case nah still recent one I go advice you make you never too lose hope like that this na same wallet you send am to but eh no just reach the minimum I go advice you contact there support share the TX give them if nah exchange way they reasonable them go help you credit am manually but them go warn you make you no make that kind mistake again next time. First try contact them first before you lose hope finish say the money don go.
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