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One of the million ways you can f*ck up in crypto

So you think you got it rought when it dips 10% in a day? Or two days in a row? I’ve seen people feel bad for selling at $10 loss in here. I can see why this would make you feel down, but remember, experience doesn’t come cheap.

I’ve had my fair share of mistakes during my years in crypto. From rug pulls, to chasing pumps, selling dips, chasing shills, selling coins I’ve researched which later went on a moon run etc. But there is one particular mistake which made me feel sick to my stomack.

About a year and a half ago I was not that knowledgeable about wallets. Understood what a seed phrase was, but still made a mistake. I was stacking Siacoin at it’s lowest and found out I can store it in Sia’s wallet by connecting my Ledger. Created a new wallet, but forgot to save seed. Opened a new one in a new broswer and saved THAT seed, only to deposit coins to the seedless wallet. Yeah, I know.

So few months ago Sia started to moon. Wanted to check on my balance and saw I cannot access it anymore. Not long before that I deleted Chrome’s cookies (no backup), the only link connecting me to the wallet. And of course the written down seed was wrong. Shieeet, I was so down. Another costly mistake made.

Those coins now are worth $32000 and since Sia will surelly break it’s ATH, they’ll be worth much more.

[Here is the link to the lost wallet.](https://siastats.info/navigator?search=77c0d9ea039d693db38b55c61f6285aff48eb2e6b3776e7f2f0240c836e3db0e02d023fad377) 1mio coins lost. Sure, there are wallets that have lost way more than I have, but the goal I wanted to cash them out would be worth 16 years worth of my salaries.

Just remember, it could always be worse, but it’s really important to learn something from mistakes if you want to make it.



View Reddit by Osemka8View Source

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10 Comments

  1. This is why I often wonder if reputable exchanges (think Coinbase, Kraken) are *better* for the average, not particularly tech savvy, crypto-er.

    Of course, not your keys, not your coins. However, the security on these exchanges is very good these days. Still better on a hardware wallet that you own, but there’s a **much** higher chance for human error. This is exacerbated when you own multiple alts and therefore need multiple seed phrases.

    Key thing to takeaway is to always write down your seed, and somewhere you’ll remember it

  2. Stuff like this is why I’m kind of glad I got in during the bull market. Constant warnings about “not your keys, not your coins” made me super paranoid.

    Every wallet I’ve opened, even if I don’t have anything in it, I wrote the seed into a notebook immediately.

    Now most of my ETH is on binance, because I don’t want to pay the gas to get it out.

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