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Wherever you find yourself, always lookout for rules. Rules are rules and are meant to be obeyed. I wanted to trade on an exchange, but before trading, i needed to transfer my fund there.
I had a wrong assumption, because i thought every exchange sites have almost the same rules in common.
I made a mistake of not completing all the processes needed to transfer my fund to the exchange and that made me to loose my fund.
After contacting the admin, i was told that the penalty would be to pay a fee before it could be rectified.
To my amazement, the fund i transferred in there could not cover the fee for the penalty. It was exactly half of it. That was the price i paid for not obeying rules.
Had it been i read the rules carefully well before proceeding, i would not have lost my fund.

Rules will help you to maintain your boundaries.

Thanks for sharing your experience but, can you explain more about the mistakes you made when sending funds to the exchange?

They can fix it and that means your deposit was successfully sent to the exchange wallet but, I don't understand why your deposit could be a problem for that exchange and you are charged a penalty

Yes, my deposit was successfully sent from my end, but i did not know that for it to reflect on their exchange,i had to send using the memo alongside the address provided by the exchange.
My thought on this is that, for the fund to reflect, it would be manually processed by the exchange, but because i did not send it with the memo ID, i was denied the fund.

It makes sense to ask for traders to trade on the exchange so that the union must be obeyed in order to make it smooth. In this case like asking permission to enter a place to trade, such a picture yes sir. Each place or exchange has different rules, and if not adhered to must be fined.
Thank you for the information hopefully useful.

indeed the exchange has different rules, but your problems I never find in any exchange, every deposit that has successfully entered means there is no problem in exchange, I want to know which exchange do you make a deposit?

Good attitude, this are highly required in crypto. Accept your mistake and move on with more stronger mind to face the real world of crypto. Follow the golden rules to lessen any losses like what you had experience. In evey move you do make sure to know the consequence and decide with risk. Like here in the forum read all rules to avoid getting red trust or  ban.  Care to not regret

I understand thanks for your explanation


I think forgot to include a Memo ID when depositing certain coins into Exchange is a pretty serious problem because Memo ID is useful to know the owner of funds for each transaction received in the Exchange wallet.

I also once faced the same mistake when I was new to the community. I agree with you, rules should never be broken or else there's a price we have to pay for. It's normal in the world of cryptocurrency and blockchain system, it happens as first when you newly start trading, nevertheless , I really appreciate your efforts for spreading the awareness to others.

Rules are not created to force others to follow it but rules are mean to be obey for a greater purpose and to mainten the peace and synchronization of a certain group as well.

In the case of regulatory cryptocurrency is very important, if we will follow a bounty of a certain project we must definitely know the existing rules, such as posting how many weeks, pay attention to the signaturenya, min rank of the account, count the stake, there we must understand in detail

Lesson learnt :). But can you let me know which exchange had you sent your cryptocurrency to? Cause I don't see any exchange has strict rules like that before :). Anyway, next time you should carefully before sending your cryptocurrency to any exchange wallet to avoid the same mistake like this :).

May I know what exchange it is so we can also prepare ourselves when we try to use this platform? Sharing this to us is a great help, although I feel sorry for your loss, I am positive enough you can have it back in other ways.

Good advice, remember that you are in a way helpless when it comes to trusting a third party. Crypto is meant to be peer 2 peer, but we can't help, especially as newbies, to trust centralized services, especially exchanges that give us the only way to trade most crypto.

We trust ICOs,,, private blockchain tokens that we hope will have value. We trust exchanges,,, to keep our funds and honor our funds. So always be sure not to break the rules. Keep to the boundaries and you have the best chance.

In crypto-space, you must always be cautious. What makes a person not losing any asset or opportunity is to be patient in every action and to be aware of every pros, cons, policy, and opportunities in any agreement. Here, surely you missed these facts and that caused a real loss. What you lose can be recovered if you learn from it and go with these disciplines, I assume.

Indeed rules are rules and individual exchanges have their set that you must stick to trade on their platform, failure to abide by them implies you losing your money. I saw a new exchange and I read in their WP that there will be fees for deposit of funds. In that instance, you need to ensure you stick to their rules and be prepared to pay the fees

Even though we get lazy or want to be a bit rogue, we still need to follow the rules and regulations. They are there to actually safeguard us from falling into troubles. So, even though they might be time consuming, we need to follow the rules and regulations.

Thats correct, that is why rules has been published and pop up the time you registered in any of the exchanges out there, i mean all of the exchanges have the rules like this. Its only upon us, if we gonna read all those rules, but whenever we forget to read the rules, we will only shoulder the cost.

your experience is bad for you. I'm sorry for that. But I thank you in that you share these experiences with us. I will pay attention after that. I hope you will not have the same situation again

It's important to follow the rules, especially in this crypto world as it's so easy to lose one's funds due to little carelessness. You have to double check everything, every information provided by clicking the button most times. No need to be in haste as some errors are irreversible and irreparable.

Thanks for the valuable information, I will take note, but so far I have not come across such a thing!

Not following rules and regulation will damage more than people think. Rules and regulation is the basic framework that keeps the whole system balanced. Therefore regardless how tedious it seems to be rules should be followed.

From my point of view this thing is highly required to crypto market. You will more strong when you know about your weak point. I suggest you to read all the rules, it will help you to understand the overall issue.

Dealing with cryptos can be risky and sometimes we make mistakes but we have to learn from our mistakes. Good to see you dealt with the problem with such attitude rather than getting frustrated which most of the people do.

Yes, it shall be common practice to obey rules carefully while trading or exchanging on crypto market. But, it would be better if you share the problems or mistakes made or rules not obeyed for which you've lost your fund.

Yes, I agree with you that rules are rules and they should be obeyed for you not to lose your funds. Before you make any transaction or invest in a coin or even participate in a campaign, it is very good to read the rules and regulations they give.

First of all thank you for sharing your experience, it helps
us to be more aware about rules,  Rules are rules and following those rules are very important ,,being careless  in every actions you take may end up to losses,but anyway take it as your experience, most important here is you learned your mistake .

Good. Instead of negative reactions we see this kind of optimism from people here.

We forgot the basic lesson we learned from school. Read the directions first or rules. Usually with exams it is in the first part of the paper.
We might have the right answer but we did it in an improper way which makes our answer wrong.

Same with this exchanges, this is our money we sre talking about so we better be careful before we click each button.

These mistakes can be taken as a lesson for me when I want to trade on various exchanges.the goal is that no loss from both parties and the rules must be executed.

ignoring the rules is stupid things, like learning without the direction of teachers and books, the book is made according to the experience of the former, if you ignore it then you will get lost and run in trouble.

It is really commendable that you dealt with it in calm manner, most of the investor loses their cool or gets frustrated. Rules are there for a reason and as long as we are abiding by them, it creates a disciplined and pleasant platform for everyone.

Dear all,
Yes, Rules in everywhere, rules in exchanges, rules in bounty, rules in airdrop, rules and rules,... I am a newbie in this crypto environment. It is so hard to do entirely. Each campaign one rule. The methods trading change continously. It's a trouble.

If you do not want to follow all the rules that are in the crypto you better leave crypto because the rules are not in crypto only, in everyday life we ​​have rules and rules that are important to follow and in carry out, it makes us to live discipline.

Actually i must confused of what happen in your trading transaction and why should its been happen thats you not complete all the process,before making a trading exchange to the market,definetly every trading site's have a different rules and processing fee of there every transaction,but in means of you pay a penalty in order to  get your mistaken transaction thats a new situation  to me,because every admins in different exchanges  have a guidance or helpdesk in order to recover those your transaction and not paying another kinds of payments.

That can't be avoided when you are not reading an instructions first before making any move. When we are talking or making a transaction on our crypto funds, it is always advisable to do our own research with that trading platform like a user's feedback, trading fees and also about their rules and regulations. Learn from your mistake and it will minimize this type of scenario on your end next time.

Indeed read the TOS for the particular exchange is necessary to avoid such as OP say because almost on every exchange have their own rule for their costumers but honestly during use crypto and use several exchange i was never heard that there was an exchange which gave fee penalty if we want to transfer our funds and even seems those penalty fees looks high because your funds can't cover the penalty fees

To avoid any mistakes read and understand all the rules and apply it, rules are made to obey not to ruin, or else you will pay the consequences, thank you for sharing your experience and good luck.

I am not sure which rule you are talking about. This can not be happened. Can you be a bit more specific?

I would like to know what kind of exchange it is. To get around it myself. But the agreement must be read, especially what is written in small print. I'm even interested in reading their rules and seeing their penalties.

Sorry for your losses, do you mind sharing more details about the exchange and coin so that we can be more careful next time?

Just curious is there any instruction to indicate memo at the deposit page? I agreed that we have to be careful since it is our hard earn money. It is also good to send a small deposit for testing first deposit.

I've never heard of an exchange requesting memo ID with a transaction. Unless you're doing a large whale sized OTC deposit i dont see why it is needed. Even binance doesn't require this nonsense extra info

Once I had similar experience. I had also lost a good amount of investment just because I had not checked the rules before. From then I am always careful about this kind of things.

Yep, always follow the rules to avoid committing mistakes because sometimes it isn't on the platform's fault sometimes you need to blame yourself for being too dumb on not following the rules. Reading it all will change everything, so be cautious all the time.

Thanks you for your advice, I hope that for someone it will be useful, and maybe someone will not make such mistakes, especially for beginners it will be relevant. I also made mistakes, on the exchanges and in the bounty campaigns, it is always sad, but this way you get your own experience

There is a popular saying that says, where there is no rule, there is no sin. This life itself has the rule of nature. If not well followed, it might result into failure. whoever follows rules, will see the positive result.

Yeah sure, rules are rules, I remember i enter into a bounty and i didn't pay attention to the rules and after many months of work, I didn't get any reward, so these days, I always read the rules over and over again.

Many newcomers very quickly want to get money because they do not pay attention to the rules. Itself so many times already come across. Now I study everything in great detail and this is correct. With money you can not rush otherwise you risk being left with nothing. Unfortunately, such rules of the game on the crypto market

So pathetic... I have also fallen a victim of not obeying rules and I lose my stakes for that. The rules say we should include the ICO Telegram group or website link to all our retweets which means we are to Retweet with comments but I failed to do that when I did not even read the rules, therefore, I lose my stakes for those weeks.

It can be very helpful for both of categories the newbies and also the skilled guys, because we are making so many mistakes because of simple ignoring that rules you are so right on that. I have personally struggled many times.

Could you be more specific? What did you do that you made a mistake in token transfer? I do not understand. You sent token without transaction reference or?
And what exchange are you talking about?

What a bad luck. Anything lessons should be learnt from mistakes. Thanks for sharing the incident. I hope people will be more careful from now on before doing anything.

You are right rules and regulations and we certainly have to obey it, because if we break a rule, then of course there will be consequences of what we do, if I may know, what exchange are we talking about here?

In essence, before we take steps and decisions to trade, we must know the rules that apply, better understand and ask if less understood, to reduce the things that will harm us. Careful and wise, meticulous care is better than hurry.

Its really good you have shared your experience. We all have to be careful in such situations.
If you escape rules, you will always find yourself wanting.
Respects rules, follow them and exit petty petty mistakes.

Every trader must ever make mistakes and make they lose assets but again all we have to make the experience so as not to again there is carelessness.Whenever you start a trade in a new market, it helps us understand each of the rules that they make and do not be averaged with one another.

Memos are usually used for graphene based chains like Bitshares, Steem etc. If you sent one of these coins then you will need to enter the memo regardless of the exchange.

that is true, every rule must be followed so no missteps. we know that in the world of cryptocurrency we have to be more careful to avoid the loss, because if we misstep then it will be fatal. the most important is to stick to the rules and be more careful.

I sympathize with you, but the rules are rules. Just as you are in cryptocurrency, the blockchain is where every data is recorded and cannot be changed. I hope that you will not make such a mistake next time.

one of the things that is very determining acceptable or whether you're in a campaign is the rules. You do have to pay attention to actually understand. And conducted in accordance with the rules.

On some exchanges, I saw in fees quite a big sum for fixing mistakes. A common mistake as I understood is to send BTC to BCH address or ETH on etc address.

If there weren't any rules then there would be chaos out there, though the rule looks very absurd to me but still the way you have accepted it and managed to keep calm is really fantastic. Hopefully, you will not lose interest by such petty issues.

If anyone does not believe in the rules of bitcoin, bitcouine closes it.

The rules and regulations are there to make the system more efficient and to save the users from being scammed. if we fail to follow up the rules or to comply by them, it will simply result in our loss in the end

Rules make any frames in working but they give a lot of opportunities in the same time. I support the idea to follow the rules. And of course they are not so suitable sometimes...

I bet these is one of the problem we suffer from today. In my opinions, the rules are the first things to look out before preforming an activity, and when a person forgets to accept the rules, he is served with a penalty for it. so it's better to play safe. Read the rules carefully.

Actually, rules are always put in place to guide and also to maintain peace and tranquility in a group  or betterstill in a society...  Thanks u for sharing your experience with us on the exchange..... Each with it's own rules, to achieve the best.. It's good to always carefully read d rules and regulation

Indeed, if we have been in the tiger enclosure then we must always follow the rules, so before entering better reading the rules, so do not be disappointed in the future. A rule is made for compliance, so do not be subject to fines or penalties.

oh dear..! thanks for sharing your story and i do hope you'll get back what you've lost in no time at all, in some different way. you're wise enough to learn even from a negative thing

That is one sad story right there, there is noting I hate more than hearing stories of people losing their coins but you are right, we should all endeavor to look out for rules and make sure that we follow them. The rules are there for a reason. So sorry that you lost your coins but everyone here should take this as a lesson, there is always a price to pay for not following rules.

I was trying to sell my bounty tokens some days ago but I discovered that there was only one exchange that was trading it. On reading their policies,  I discovered that it is compulsory to complete KYC before withdrawal could be made.  Now,  all my documents are not ready yet.  I was not ready to send my tokens to that exchange and wait forever to withdraw them.
Though the value of my tokens have decreased considerably,  I'm happy keeping them. I cannot lose them to exchanges simply because I was mindful of the rules.
As you've said,  rules are rules.

I once registered on one exchange to buy one coin there. But I have not read the rule that without the KYC you can not withdraw your money. I deposit BTC, bought a coin and wanted to withdraw it to my wallet. And only then did I see this rule! I spent 3 weeks at the KYC and was very angry at myself that I did not read the withdrawal rule. Now I always look at the rules for withdrawing money from the exchange when I register.

I think it is a fundamental mistake. Regulation of each Exchange of course always different on one place and the other. This certainly could be an advantage or a little obstacle for each Exchange. run everything carefully is crucial especially when we talk about large assets such as crypto.

That's right. You can because of a little stupidity to lose all that you have and even more. It is necessary to carefully familiarize yourself with all the rules that you do not do

I expect that the crypto currency will already this year give real prerequisites to the fact that humanity will begin a gradual transition to the modern sphere of crypto currency!

That's right, good attitude will lead us on the better one. If we made a fault under a rules. Let be professional and take losses without angry. We're the one to be blame in that situation. After all, we try to gain knowledge and make us more aware for the future

Rules are needed to obey or else you will be disqualified, it has been published to avoid any issues.

some exchange using the same address to deposit. so, to differentiate your transaction is with memo ID. like stellar lumen, you need memo id to send it into exchange.

I'm sure you have to follow the rules even when you're doing something small. You should not take risks and you should always be alert, especially when you are dealing with currencies

Sounds like a dreadful exchange would you mind sharing the name with the rest of us so that we may avoid using them? From your side however you should read the Terms & Conditions associated with using their service and any other sites going forward.

Yes the rules are in need when we will follow an activity, such as if we will follow the bounty of a particular project, of course there are rules such as accounts used min jr, posting min 10, there must be telegram and email and so on, of course this must in the attention of the participants, and the rules that are made must be obeyed

therefore reading the rules, and following the tutorial to complete the account profile before trading is very important.

Crypto needs to be followed rules and this aspect is really confusing here. I think that rules are good in the rela life but in crypto they are not so important for earning and investing.

If anyone doesnt believe in the rules of bitcoin, bitcoin closes it. :)

I've never known about a trade asking for update ID with an exchange. Except if you're completing a huge whale estimated OTC store I dont see why it is required. Indeed, even binance doesn't require this rubbish additional information

Thats rigth rules are rules the world is very dangerous without existing rules so does crypto has rules also but frankly stated some rules are very hard to impose due to many factors affecting in it  and other causes too.

It is a shame that you lost your money but at least you learned your lesson, if you did then this is going to be a cheap price to pay, there are people that pay a very high price for each lesson they learn, while not exactly the same many people learn a similar lesson when they invest in an ico while not reading the whitepaper only to find out later they invested in a scam and now they lost all their money

yes indeed the rules are still the rules that must be obeyed ,, but the cruelty there is a violation indeed there should be a warning before being given sanctions or punishment to participants crypto ,,

You are really saying the truth about rules,they are very important to business, if you disobey the rules of any business you will fall into trouble, however the cryptocurrency world is no exception.

It is not worth anything to miss when it comes to money. So you can not only lose your investment, but also to become a debtor. You need to be as attentive to this as possible.

I fully agree with you because he was wrong many times. I had to sometimes even lose money because I did not understand these or other rules correctly, or did not read them at all. Do not miss such important moments

You are absolutely right. Rules are rules that  must be obligated. however, there is also wisdom where it may look at the rules and condition. hat's about in crypto? Well, there may be no rules as in the centralized system. however, as a crypto lover, rules in all ICO or programs provided must be obligated or you will get nothing.

This experience is beneficial for us. Likelyhood, If exchange has some problem, it must be rectified by concern team so that every could not bear such issues. Although, rules must be followed yet there must be some concession because it may be occurred by mistake.

Thanks for the advice, but the people who do the same-a huge number ! And many still continue to do it.Everyone wants to make money-without doing anything for it.

I really agree and i admire you for admitting that it is your fault. Not every people can do that. It is okay to make mistakes but learn from it because every mistake is a lesson. Now we can learn from your mistake too and never do the mistake that you did. Good job brother.

Hmm, I salute you. Thank you for sharing your valuable experience. I admire you for being so honest about the things that you've done wrong. I wish, everyone has the same thinking as you have. But don't give up so easily about everything. Be careful in making decisions that can affect your life and else's.

Rules are the basic framework for keeping the whole system balanced.

It's great to read the rules they offer before you make any trades or investment COINS or even attend an event.

rules in the world of cryptocurrency are very important so we can avoid losses. besides, by following the existing rules we will get what we want. therefore we must follow the existing rules to avoid mistakes because usually, the mistakes we make will make us lose.

The website change pages always set different rules. A website creator is the one who sets the rule but does not rely on the rules of another website. There is a rule that everyone is aware of compliance and will be less likely to be spam or scam. Each site should always have its own rules.

The problem is that the rules very often exist only nominally. Bounty managers themselves and representatives of project teams violate them. Or they can change them on their own.

Thanks for the information this can give us all a warning. May I know what exchange you are talking since I'm trading too so many centralized exchange and never bump into this one.
It was a great loss for you but it can't be helped since exchange who don't strict the rules are not trusted.

certainly, it would be a valuable learning. It is worth an absolute existence and certainly cannot be negotiations again when it's against the rules. However, my mistakes will also learn to be better for a more thorough result and greater. so don't be discouraged because it is a common mistake in crypto.

I didn't even know until I saw your topic. If the exchange registration process is not perfect, the transfer will have such serious consequences.This is also a very important reminder for us.

It is true that wherever we find ourselves,even if we have been used to such place, sometimes things change, sometimes rules change and we should always look out for this. Such like this forum, where the rule of merit system changed. It took some people a long time before they could realize it has changed.

Yes exchanges every day becomes more and more, respectively, each has its own rules.I also made a mistake once.Made a token Deposit on the exchange.The name of the token was the same, but the contracts were different.I ended up losing my money.

Its very important to obey rules, because it is very important
an adage says, Obedience is better than sacrifice.

if you participate in bounties and do not complete terms of bounty, you get 0 stakes
if you send tokens to exchange without reading minimum deposit, you get 0 fund.

be wise.

 Very true in my opinion, because a rule is made to obey. this attitude is needed in the Cryto world. Every step we do we must know the risks we will get. This applies also in this foru where there are rules that must be obeyed and do not violate the rules.

       That is true every exchange have different steps during trading and this is always  the problem of some member who didn't know how to trade their tokens . It need to be simplify more to be easy to use and easy to understand although there is already one exchange (not need to be mention) which is very easy to use or a user friendly.

I agree with you when you sad that 'rules are rules and are meant to be obeyed'. I also had experienced that very same story of yours where I deposited my token in an exchange first before reading the rules. It should the other way around. We must always remember that before doing any transaction with an exchange makre sure that you thoroughly read its rules to be able to withdraw your fund anytime.

Thanks for sharing your. Could you tell more about the mistakes you made when sending funds to the exchange?

Correct all the sharing that they did is very confidential to introduce to the public it means tbey ahve shared the best experince they have so that other bitcoiner can identify too what are they going to do for the next season it means everyone are set to be prepared.

It makes sense to ask traders to trade on the exchange so that the union must be obeyed to make it smooth. In this case, it is like asking permission to enter a trading place. My thinking about this is that, for funds to reflect, it will be processed manually by exchange, but because I did not send it with a memo ID, I was denied the fund.

Rules are rules and must be strictly adhered to, to avoid any form of penalty that may be attached it if found guilty.

That will be your valuable experience and all of that will be memories that cannot be forgotten.
believe from all the mistakes that we experience that will make us understand the state of the environment.

Your story is very inspiring to me. Thanks mate!

I read and understand the reason, You forgot include memo ID and Exchange do not know who send money for them. This is your fault, read carefully before deposit to exchange. Be like rules of bounty campaigns.

yes you are right with us reading carefully we will not lose or miss anything. like you who lost funds because you made a mistake and read carefully also must be done anywhere, especially if we join the bounty so that we do not work in vain

Your right and how could we imagine the world without rules but sometimes writing a rules was too complicated and defenitive in the sense that if its poorly written without proper meaning or not appropriate in terms.