Don't make this mistake when transferring ANs/Neo from an exchange to your Neo wallet.

in cryptocurrency •  2 years ago 

Image source
Recently I have seen a lot of people complain of losing fractions of their Neo token when they tried to transfer it from an exchange to a Neo wallet.

The reason behind this mysterious loss of fractions of Neo tokens is because Neo is like a company bond,It is indivisible.

when you try to send something like 1.9 Neo tokens to your wallet from an exchange like bittrex, bittrex will charge you 0.1 transfer fee,then they send the remaining 1.8 tokens to your wallet, but at the end of the transaction, only 1neo token appears in your wallet. Like I said before, this phenomenon is caused by the fact that Neo is indivisible so you can't send fractions of the Neo token you bought from an exchange to your wallet.

Even if you send it ,you end up losing all your money. So assuming you have 10.56 Neo tokens on an exchange, the best thing to do is to withdraw 10.1neo tokens to your wallet, so that when the exchange collects a transaction fee of 0.1,you get your 10neo tokens complete in your wallet.

However, although Neo is indivisible, but neo gas is divisible. This means that you can use your fractioned neo token and buy Gas tokens, then send them to your Neo wallet and your problem is solved.
Currently these are the exchanges where you can buy Gas

Please upvote and resteem so that this message can reach others.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Thanks for explaining - upvoted & resteemed!

Good information.. Maybe you can explain about moving neo from wallet to other wallet/exchange.. Does the fee still apply..?