transactions Important things to know about Cryptocurrency transactions

[Mark wood 2970]

20 minutes ago, Dorjoy12 said:

@Mark wood as we are not a trader so basically we have low capital to withdrawal Which lead us to choice low fee coin like litecoin xrp though this some coins demand not much high in crypto world..  But a thing is, you should prefer that coin to do transaction Which is accepted in your country’s usd exchange site as my country exchange site dont  prefer xrp much so i use to do transaction by litecoin..                      

@Dorjoy12 yes dear we will also take care of these things so that the coins will not be lost but as you know everything depends on knowledge if I don't have knowledge then I will lost my coins because i will exchange it in that coins which are not good for profit so we will think about that..

[Dorjoy12 8962]

27 minutes ago, Mark wood said:

if I don't have knowledge then I will lost my coins because i will exchange it in that coins which are not good for profit so we will think about that..

@Mark woodits normal that you will lose.. Few days ago Once yobit user message me in telegram for help how to trade on yobit.. Again he had invested almost 0.2 btc in yobit for buy yobit coin such as musk,dice,yoda,water then i suggest him to cancel his order list as yobit coin value wont be raise up ... We all know about the dice coin value history.. So stay far from low trading volume coin..          

[Dorjoy12 8962]

5 minutes ago, Mosharraf said:

You can trade with LTC BTC ETH  Coins.  Because the price of these coins is increasing day by day.  This will allow you to trade and make a profit

@Mosharraf  there has no fear to trade on those currency you have mentioned as the btc position is number one in crypto market then eth in 2nd position..  So if you hold those coin in yobit exchange site then day by day it price will increase like a myth..  I said this because within some years we can see a huge change in crypto world market..                  

[Ridam 7455]

19 hours ago, Calvinpriva said:

This is true @Ridam it happened when i was transfer ETH and i didn't notice until it passes a few hours and i checked the wallet address. I did everything write before i made the transaction, but i realized that the address was different compared to the one i transferred the ETH.

@Calvinpriva I feel sorry for your loss. That's why we must use good antivirus and always scan our computer with it. As there are alot of people trying to attack people and make their losses. Do you remember downloading any application or visiting unfamiliar websites before this incident happened? Maybe that was the reason for this Attack.

[Zeshan Khalid 2577]

My mobile remembers my wallet address but I still recheck it to confirm because these transactions are not reversible. I use perfect money to transfer my money to wallet because its fee is very low on 1.99% 

[Projectcrypto 4382]

These are for sure the major things we all have to consider to carry out transactions and that is why i like making use of the likes of yobit exchanger, binance exchanger and kucoin because they all good in this aspect but i will advise us to always recheck wallet address which we want to send coins to everytime because even with low transaction fees and faster transaction if you send to the wrong address you have lost because such transaction is irreversible, we should be aware of that mates.

[Captin 0]

It is better to pay high fees on your transaction in order not to be stolen because it is vulnerable in the event that it stays for several hours in addition to that you must check the wallet several times for fear of a written error or forgetting

[tienda 8776]

Good things to guide cryptocurrency users, thanks! yes of course these three things are very important and we should to take them in consideration when we do our transactions, but among them the most important is wallet re-check, we need to be attentive and careful when we put our wallet address checking the first 3 or 4 and last 3 or 4 letters to confirm, because sometimes malware intervene in changing the address.

 

[wassim19 645]

Yes, it is an important topic that enables us to know the most important transactions in currency exchange between platforms, as the value of fees has gradually increased and this is due to the demand for excess bitcoin, so it is necessary to go to alternative currencies that became less in fees when converting

[Projectcrypto 4382]

1 hour ago, Captin said:

It is better to pay high fees on your transaction in order not to be stolen because it is vulnerable in the event that it stays for several hours in addition to that you must check the wallet several times for fear of a written error or forgetting

Sending funds to wrong wallet address will automatically lead you to lose and that is why we need to check and recheck the address we want to send funds to in order to avoid lose that no one will refund to us.

[Honny143 13612]

4 hours ago, Mosharraf said:

ook at the market to trade and you will take advantage of the opportunity when the price goes up.  And investment is for the long term.  The price of coins is increasing day by day so you can make a profit by investing.

@Mosharraf trading and investment both are different aspects, in trading we earns both sides  when price pump up and dump, just need to follow the market condition, according the market condition put buy are sell order, if we win trade then we earns profit,

But in investment we have only one possibility when price increase then we earn profit, so we must should invest in good pumping coin like btc ETH.

[Mike1515 2977]

Yes thats what I usually look for the transaction fee and the whole idea of how fast the token or the coin can be fast and the truth is I also look how good the token is stable because if a token can die in a month and in the right person we are going to work for there are so many ways to which we need to work and put a good effort we are able to run for

[Honny143 13612]

1 hour ago, Mosharraf said:

@Honny143...exactly...  There are two types of trading and investing.  Trading basically means buying and selling.  So experience is needed to trade.  And to choose the right coin to invest, you have to keep it for a long time.  So both are profitable, trading is more risky and investment is less risky.

Yes @Mosharraf This is the difference between trading and investment, trading needs well experience to make profit but investment just basic knowledge also enough,

like you mention trading contains lot of risk that is the reason so many experts not prefers trading to beginners, but they start journey in investment to earn profit safely.

[duncun007 3577]

On 10/25/2020 at 2:20 PM, Calvinpriva said:

This is true @Ridam it happened when i was transfer ETH and i didn't notice until it passes a few hours and i checked the wallet address. I did everything write before i made the transaction, but i realized that the address was different compared to the one i transferred the ETH.

that is very sad my friend, this is why you always need to double check the address you send your money to before you actually make the transactions, because this has happened to many people before you as well.

[Raqeebzy 6456]

Transaction in cryptocurrency are a lot more sensitive and different compared to other monetary systems. And sometimes, it is not wrong to say it is also more complex and might be a nightmare bar privacy and to some extent security.

Thus, in cryptocurrency, making TXs requires some little know-how (technicalities) and also we have to be cautious. Mistakes are too costly.

Thank you for making this topic.

[Onden 2098]

Thank you for the information, there are many important things that need to be considered every time we make transactions. I think the first thing we should pay attention to is double-checking the wallet that you pasted to the address that was sent, this is very important because it really determines the success of your transaction.
The second is the transaction fee, you have to calculate the transaction fee when you will withdraw crypto to another wallet, it will affect your balance. And the last one is the transaction time, in my opinion this is no problem even though I will wait a long time.

[ramonn22 731]

On 10/24/2020 at 10:15 AM, Calvinpriva said:

@Dorjoy12 Yep, this feature is not in all exchanges or wallets. It's somehow helpful to some people because there are currencies which costs high transaction fee. Maybe yobit will have this feature later.

 

Yes, transaction time depends on fee, currency and exchange that you use. Of course, there are some exchanges with lower fees compared to yobit.

If dear colleagues, these functions depend on many factors such as the commission they charge you, so it will be fast or slow and if yobit gives us the masks but it is not the cheapest in commissions, he personally always used the litecoin cryptocurrencies that override the fast actions and cheap commissions
Good luck and big winnings for the whole community
A big greeting

[Khan 1414]

On 10/24/2020 at 4:11 PM, Oxygen99 said:

This is a well constructed topic my friend because these are the major things we need to know to accomplish a transaction in cryptoworld and since that is the case i will like to add by listing some coins that have low transaction fees compared to the likes of bitcoin which has a transaction fee of 0.0012 BTC which i think is too high for small traders. We have the likes of litecoin, xrp and ethereum which we popular in every exchanger you visit and they have low transaction which most of the traders can afford, so let's check them out.

Without going into detail we can do the transaction because explaining all the process to a newbie can make him feel very boring regarding the crypto currency and we don't want that.

[BrolySSJ 7899]

These are definitely three very important parts to any transaction. I think that the wallet recheck can be reduced if you make use of the QR code option because this option prevents you from having to type out the address manually, and inserts it for you. With regards to the transaction cost/fee and its time, of course the higher the transaction fee that you assign to the transaction, the greater the priority of that transaction, which is very important in being able to create fast transaction. Most wallets these days however, suggest the transaction fee for you depending on the wallet, however if the priority is low, you can choose to change that to a lower transaction fee. 

[bogdanoff 3173]

I always take some time when sending transcations as making any mistake will be probably a costly one as transcations are irreversible. We have to be careful and double check all the send address we use. We can make a mistake or have malware that changes addresses and can make us lose money.

[Oxygen99 1930]

5 hours ago, Khan said:

Without going into detail we can do the transaction because explaining all the process to a newbie can make him feel very boring regarding the crypto currency and we don't want that.

Newbies need to know the procedure and that is why we always need to make explanations to them in details because they have less experience about the field and i don't think there is any boring in explanations unless the person is not ready to learn and believe everyone that is lazy can't earn in cryptoworld because we have to work hard in order to achieve what we are all here for😁

[Mella 3680]

On 10/24/2020 at 3:14 AM, Calvinpriva said:

2. Transaction time.
This is another important thing when making transactions because there are manual transactions and there are direct transactions. Manual transactions usually take a long time to be completed and confirmed, but automatic transactions are done very quickly

What are these I am never hear about manual or automatic. Is this about the fees we are select in wallets to put them manual for lower or allow the automatic so wallet will select? I am use the metamask lately and it has some features for manual enter the fees for Ether.

[Maaz sultan 265]

These are useful information and all the new member need to know these steps , and before making any transaction we need to fully experienced and know all the steps for making a secure and successful transaction .

[maryoar 148]

In the world of cryptocurrencies, it is important to know in these points fundamental aspects of investment and the cryptocurrency business.
When we have to choose an exchange platform that has the lowest rates, and we have to wait for the most opportune period to carry out the transaction and achieve the highest profit rate that is possible at that time.

[M.bello 1015]

Hello mate making transaction you need to be careful make sure follow the instructions carefully to avoid error first of all you need to check transfer fee, and secondly transaction re-check while the thirdly transaction time this are the prescription you need to follow for successful transactions