- Sending BTC to BCH or whatever coins, vice versa. Don't do this, newbies !
- Something to note when you are making a transaction
- Check the ticker first
- Check the warning message on the platform you are using (whether additional details are required as tag)
- Check the chain (for USDT transactions, ie. there are few chains: OMNI layer on BTC chain, ERC20, TRC20, EOS, etc. Move your USDT or coins cross-chains will cause losses)
- Check the address (first, and last few characters if you don't check all characters)
- Check the amount you send out and the % of fee. Sometimes people send out a transaction that is eaten up by transaction fee.
Topic: why its important to read Terms and condition when sending funds (Read 130 times)
Let me take this chance to bring my thread to life discussion again.
January 04, 2021, 02:11:20 AM
It is good to read the terms before sending coins to especially an exchange, this is common to them in a way sending less than minimum amount will not appear in your account. But it can not happen to noncustodial wallets because you have the private key to your bitcoin, you can send as low as 1 satoshi so far you have transaction fee to be used in the sending. But for many exchanges, it is good to know their minimum amount that can be send because any amount below it will be lost.
This is how many exchanges works, not your key not your coin, nothing can recover back the fund in this case unlike using noncustodial wallet which your bitcoin will be sent successfully regardless the minimal the transaction amount is.
This is how many exchanges works, not your key not your coin, nothing can recover back the fund in this case unlike using noncustodial wallet which your bitcoin will be sent successfully regardless the minimal the transaction amount is.
also for some coins don't forget to add the destination tag, this is is a 6digit number to know where exactly to send a certain coin that requires it is aside from wallet address it
There are some coins that make use of destination tag, like ripple it is more than 6 digits it is 10 digits. Also while regarding to it in some coins it is not regarded as destination tag, it is regarded as meme or another name giving to it, although not sure if some other coins call it meme, but binance coin call it meme. 
January 04, 2021, 01:35:28 AM
This post is for a newbie or old-time members who sometimes forget to read and just send their funds away and lost them the reason is that when you forgot to read and there is a minimum and an exchange or a certain address requires a minimum, sometimes they don't return the funds, I have done this before the good thing that I only send few dollars but hey, its still money, also for some coins don't forget to add the destination tag, this is is a 6digit number to know where exactly to send a certain coin that requires it is aside from wallet address it, take extra careful small money or not always read what is written below the deposit address or wallet, so no money will go to waste.
this image is taken from an exchange while im making a transaction this example is for BTC
this image is taken from an exchange while im making a transaction this example is for BTC
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