WARNING: Improper Money Transfers May Lighten Your Wallet

If you’re new to crypto, before you get all excited about trading, please learn from my mistakes. Watch a few refresher tutorials on how to make transfers properly. Even if you have successfully traded, and transferred funds before, invest a few critical minutes to watch a VISUAL on how to do so properly. Failing to do so might just cost you a few bucks, as it has me.

Don’t take your funds lightly. You’ve earned them with dedicated time on the platform. Losing them to some “unattended” portal may be the result if you try to complete the process off-the-cuff; especially, if you don’t often buy and sell alt coins.

I’m reminded that it’s okay to accept that less than six months in, I am still very much a novice. I’ve learned a lot; but, there is always more to learn in the evolving world of crypto.

Here’s my share:

Recently, I decided to transfer $10. to my openledger.io account. The timing was wrong, as it was right before logging out for the evening; and fatigue had begun to set in.

The goal was to sell Steem to buy a few pennies of BTC for trading other coins. I wanted to see how the numbers changed in the hours I’d be offline. While this was a good idea initially, it soon became a bad idea when the funds were inappropriately placed. (S…M…H)

Instead of making a successful deposit for a trade, I ended up depositing the 10 bucks into the WALLET of an openledger-dex blog page. See exhibit A below:

As you can see from the million dollar value, the owner of this ‘blog’ needs the money, a whole lot less than I do.

After waiting a few minutes for the funds to post into my account I realized that there was something terribly amiss. Clearly the funds just dumped into the pot of openledger-dex. (S…M…H)

I am in no way blaming the openledger-dex owner for my faux-pas. Unfortunately, the onus is mine. It's a case of one person’s venture, becoming another’s gain.

So that all won’t be for naught, I’m sharing my blunder(s) with the community, bringing an awareness to take care when initiating trades. Failing to do so, can be both disappointing and costly. Have you ever grasped at something and caught air? It feels a bit like that. Btw, yes, blunders; plural. Keep reading.

This experience would have a little less bite if I could say this was a first time, beginner’s fluke. But not so; as the first time I did this was a week ago, with another exchange. Ahhhh...If only I wasn't so confident in my ineptness(lol).

It was an extremely similar case of trying, by memory, to transfer funds; this time into a Bittrex account. Fortunately, on this occasion, I was aware enough to give it a pre-trial run, with only $1. (The memo is the result of trying to follow a blog post without pics ;+0! (S...M...H)

I say only; but, that was a hard-earned dollar, as far as I’m concerned. Again, a Steemit blog site is where the money landed.

And again, the owner of this site needed that dollar a lot less than I needed to lose it. On this surface, this blog looked like an unattended portal. There were no blogs, comments, or replies. I presume it’s a link to the Bittrex exchange in some manner, by the size of the WALLET.

Just because I don’t understand its purpose, doesn’t make it a scam blog by any means. I’m still S…M…H; because, I know ANOTHER ‘someone’ is getting richer off my novice efforts. (LOL…not really). I’m sure I’m one of many. It’s just that most walk away quietly and cut their losses. I choose to use it for the good of the community by raising awareness for novices.

So, a final last word of warning to all who are new to crypto. Because it is decentralized; there are few, if any, ways to reach out for help (i.e. refunds) when exchanging money is involved.

That’s it!

Of course, it will make my day if my account is refunded. Thus, I am asking anyone who has awareness of how to resolve this matter to submit suggestions; beyond the obvious, know what you're doing.

Peace.