Rookie mistakes

For the individuals studying crypto foreign money, don’t make the identical mistakes I made roughly five years in the past.

Roughly five years in the past (simply after COVID) when meme coins have been going crazy I obtained into a number of holds and would look forward to the coins to go to the moon. SafeMoon was one in every of my bets that paid out pretty decently. Throughout that time I used to be utilizing MetaMask, Courageous, Base, Binance, and made all trades on PancakeSwap.

On the time I had withdrawn a majority of the cash to assist pay for school expenses.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

Quick forward to in the present day and I understand that my MetaMask continues to be logged in on my new pc and I one way or the other 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 4 thousand dollars.

Here’s the place the fun begins. I’m joyful as a result of I’m considering I made an honest hold and since I haven’t touched the markets since that point 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 keep growing however not in the same proportion it has already. May as nicely promote or switch to another coin.”

Once I go to transfer my BNB pockets is empty in MetaMask. Then I take a look at what I’ve completed virtually 5 years in the past. I managed, with out figuring out the distinction on the time, to swap my USDT to Binance Smartchain Testnet.

On the lookout for my different wallets I noticed, since I hadn’t considered them in years, that another belongings I’ve acquired are gone as a result of I got rid of my written down seed phrases once I cleared out my garage of all of my previous notebooks they might be in.

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

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

1.) Take the time to study exactly what coins you’re shifting round, you possibly can find yourself with something worthless reminiscent of myself.

2.) Do not store your wallets seed phrases someplace that you simply may overlook about them or unfastened them.

I know these rules are very properly established all through Crypto exchanges, teams, and communities now. But if I can save one individual from making my errors by scripting this, it’s value stating again. Luckily I don’t miss the cash I put into it however it positive would have been cool to turn $40 to $4000.