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June 07, 2021, 12:28:18 AM |
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Simple question but if anyone wants to know some backstory.... I used to use the incognito wallet. The fees were measured in pennies. But... I ended up losing nearly 2000 dollars in slippage fees. Basically half of what I exchanged didn't make it somehow. I used to absolutely positively love and adore the incognito wallet. It was like the best thing since sliced bread, it literally only cost like a penny or two worth of their native token to swap bitcoin or whaever crypto for monero or whatever other crypto. I used it for a long time no issues until one day I made a trade. I didn't think about slippage or anything. I've swapped on other wallets and slippage is between 1 and 3% and it's set to a max meaning if it's more than that it wont go through (at least on safepal swap). Well, I hadn't heard much about the wallet, and I was cautious and over the course of months when I got my paycheck and bought on an exchange, sent a few hundred on the site and traded for monero. Everything about the wallet was legit so I never had any issues so when the markets were dumping, I decided to go all in one day and got all my savings during this big crypto dump.
I just made the trade like I always did and wham. I was wondering.... why.... do I only have like 4100 dollars worth of XMR when I traded nearly 6000 dollars? Wtf, is this some sort of error? I looked at the charts, used some conversion sites and realized omg.. during the span of a minute or less, a ton of money just went "poof." I contacted their staff and they said it was lost to slippage because the amount was too large of a trade or something, they said sorry for my loss but nothing can be done about it. I nearly rage quit from this news because that money I saved up for years of my life. So like nearly an entire year of saved up wage slaved wages gone, poof, in less than a minute. Lesson learned. I'm still devastated over the loss but yeah Idk if I can trust the incognito wallet anymore after that. I guess I should have researched it more but there is hardly any info, no warnings or anything about this specific situation. I guess that's what happens when you're careless with this stuff and take things for granted just assuming an app will work as you expect it to. Well... hopefully long as I hodl it will eventually go up I guess and at very least one day recover what I lost. Of course I'm sure Bog is gonna keep the markets dumped. The luck in my life makes me think they're personally out to get me in particular, so far the markets are making me think we're done with the bull run so idk. I dont even flinch when I put money in and there is a dip or dump. You know if you hold it will prob just go back up... But when the money just goes poof, and doesn't even make it from a conversion over. It's like seeing the money just go up in flames. Totally different feeling.
-_-,...
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