Rookie mistakes

For the individuals learning crypto foreign money, don’t make the same mistakes I made roughly 5 years ago.

Roughly 5 years ago (just after COVID) when meme coins have been going crazy I obtained into a number of holds and would anticipate the cash to go to the moon. SafeMoon was one among my bets that paid out fairly decently. During that time I used to be using MetaMask, Courageous, Base, Binance, and made all trades on PancakeSwap.

On the time I had withdrawn a majority of the money to help pay for school expenses. I transformed a number of the meme cash back into what I assumed was BNB coins. At the time they have been roughly $10 a coin.

Fast ahead to as we speak and I understand that my MetaMask continues to be logged in on my new pc and I by some means remembered the password to it. What do I see once I open it up? Roughly 5.2 BNB sitting there, displaying value of slightly below four thousand dollars.

Right here’s where the fun begins. I’m glad as a result of I’m considering I made an honest maintain and since I haven’t touched the markets since that time I felt like a genius for not taking a look at it for all this time.

Naturally I feel, “I’ve held it lengthy enough and made a big achieve, yes it’ll in all probability continue to grow however not in the identical proportion it has already. May as properly promote or transfer to a different coin.”

Once I go to switch my BNB wallet is empty in MetaMask. Then I take a look at what I’ve accomplished virtually 5 years ago. I managed, without figuring out the distinction on the time, to swap my USDT to Binance Smartchain Testnet.

On the lookout for my other wallets I noticed, since I hadn’t considered them in years, that another belongings I’ve acquired are gone because I removed my written down seed phrases once I cleared out my storage of all of my previous notebooks they might be in.

I also made a change from Android to iOS around a yr after my SafeMoon experience. So any passkeys I had saved on Courageous at the moment are gone.

For all the new comers out there that have the likelihood to share my expertise, keep in mind two things.

1.) Take the time to study precisely what cash you’re shifting around, you possibly can end up with something nugatory akin to myself.

2.) Don't retailer your wallets seed phrases someplace that you simply may overlook about them or unfastened them.

I do know these rules are very properly established throughout Crypto exchanges, teams, and communities now. But when I can save one individual from making my errors by scripting this, it’s value stating once more. Fortunately I don’t miss the cash I put into it nevertheless it positive would have been cool to show $40 to $4000.