MultiversX Tracker is Live!

A quick lesson?

All Cryptocurrencies

by COINS NEWS 86 Views

Hi all, I’m what you might call a bit of a beginner with understanding Crypto, I’ve just made an error where it’s cost me a few pennies (very small amount, 40 USDT) and I’m not trying to get the money back, but I would like to use it as a lesson.

So I was wondering if somebody could explain where I’ve gone wrong (in as simple way as possible) so I don’t make the same mistake again.

Here’s what happened:

I had 40USDT on my sportsbet.io account that I wanted to withdraw.

I went to my Coinbase.com account and had a flick through to find that I can transfer USDT to my Tether address (Now I think this is where the issue may be as I can see it now says ‘Only send USDT ERC-20 to this address)

Sportsbet.io had 3 options, I can’t seem to access them now, but I selected Tether and copied my receive address from my Coinbase.com account - the address was verified and the transaction sent.

When the funds didn’t arrive, I spoke to Sportsbet who advised me to try and contact Coinbase as they may have received the funds in their Polygon account.

I contacted Coinbase who told me that Coinbase.com doesn’t accept transactions through Polygon, only Coinbase wallet does. I provided them all transaction address numbers and the hash.

The conclusion is that I have apparently used the wrong network (Polygon I guess) and that my funds aren’t recoverable.

Like I say, I am happy to put the lost amount down as a learning fee, but I wonder if someone could explain where I went wrong and why I went wrong - and lastly, if I sent the funds to the address related to my account - even if this was through a wrong network, surely they can only be received by the address that is related to me.

It seems strange it’s completely unrecoverable when sent to the correct address but with the wrong network details? I would have expected to either be able to recover of for the transaction to bounce like a bank transaction would.

Any help explaining would be much appreciated and I look forward to not making the same mistake again!

Here’s the transaction for anyone interested - and anyone smart enough to somehow get the funds (no idea if this is possible lol, I’m really talking rubbish):

https://polygonscan.com/tx/0x3b871fafeea79ecfe26c4075977a14a761a257f9a84892fa89a77d45bdac3280

submitted by /u/AllahoPingsFences
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments