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A friend of mine who got into crypto a couple of months ago just bought some Monero.
Well....as he did not had a Monero Wallet he wanted to store his XMR in his Bittrex account.
He bought from a German exchange and gave his wallet adress.
But Bittrex needs for Monero also the Payment_Id, which he did not provide.
Trapped between both supports his Monero is likely to be lost, as they both say it is not their business.
There were 2 big mistakes my friend did.
1 dont store your crypto at an exchange
You dont know if the site is run by a 23 year old pokemon fan with pimbles all over his face out of his parents basement.
2 know the coins you are buying. If there is something special about it know how it works before moving them as it might be very hard or impossible to recover them.
With his example we are trying to get the TX Id and the public_spending key to hopefully recover it.
Great info, thanks for sharing :-) Kann jeden schnell passieren!
Ja, leider schon.
Wird auch noch öfter passieren denke ich.
Feeling sad for him. i hope that he will get his Monero back. but i want to ask a question What is Monero is it a new cryptocurrency??
No. It is and older one. It is focused on privacy.
I just bought litecoins... Geez, a friend lost $600+ to bittrex. But he put the wrong memo though.
Puh that is tough.
LTC is a good pick imo, I am holding some also.
GL us I guess :-)
Gutted.
I cringe at how much has been lost due to 'memo' mistakes in the past year or so.
Where do the coins go? Are they 'burnt', thus increasing the price/reducing supply?
That is actually a good question....
I think in that case Bittrex might got them but in generel I dont know....yet.
I let you know when I find out
Yeah I'm interested to find out so if you do locate the answer let us know. cheers!
opps.. I still store my alt coins in bittrex.. where would u suggest I can keep, it's a bunch of them so..
Check out the exodus wallet. It can hold multiple currencies. If you have a larger amount of money I would suggest a cold storage unit. I have the "Nano Ledger S" and I am pretty happy with it. It can hold multiple currencies also and you are save.
Thank you.. I will check out exodus wallet ..
Totaly right, heard about so many ppl losing their coins because of 1 OR 2.
Scary how much coins are lost
Hi! I just upvoted you!
I found similar article on Monero that covers the everything from why it matters to how to buy and store it: http://cryptoupdates.net/monero