Bitcoin Forum

hi crypto lovers,

just a small thread to help you to avoid making the same mistake I made earlier.
when participating to airdrops, ico's, giveaways from new tokens/coins you need to mind the following :

- don't use a wallet like coinbase to receive these tokens/coins. Coinbase states that sending these kind of coins towards a wallet at coinbase will result in a loss.
I had some rewards coming my way for doing some translations, and before the payout went trough I created a myetherwallet, because my friend pointed out the above fact.
I've sent the new address to the dev team from whom I was supposed to receive the rewards.
They kinda ignored my message(s), yess i've sent a few to be sure they do not use the wrong address (read: coinbase), but unfortunately, they did use it.
Resulting in a loss of a nice rewarding and there's nothing you can do about it to reclaim those coins from coinbase.

Still have some question what happens with these coins, are they actually lost or does coinbase keep them for themself?
If this last part is the case, that's more like stealing money and trying to cover it up with a Q&A post .


note: due to the fact that the coin was an ERC20 token and based on the ETH coin, I assumed the coin would arrive safely, even if I asked for a deposit on another address, but this was not the case.

So, be carefull and be sure you use a wallet that does not hide itself behind this kind of info : https://support.coinbase.com/customer/en/portal/articles/2829461-altcoins-and-icos?b_id=13521

you've been warned !

Seems like an issue with coinbase rather than the wallet but this is exactly why people should be using desktop wallets and not exchange wallets to store their bitcoin unless they are trading.