Trading crypto can be messy. I have been trading for 2 & 1/2+ years and I still make mistakes.
About 6 weeks ago I SENT 71,000 XRP to hitbtc (a very popular exchange) without a destination tag.
If you’re familiar with how ripple works you know what that means…
A destination tag is a 9 digit figure that is unique to your wallet. Destination tags specify the source from which the payment is coming from. It’s how your specific transaction is traced back to you. It allows multiple users to utilize a single address. These tags are VERY important. If you send money without one, it is very easy for your money to get lost, and in some circumstances it won’t be returned. Typically, the exchange or wallet you send it on is able to go back in and retrieve it for you, but that doesn’t mean they have to (or that they will do so in a timely manner)
After WEEKS of worrying, multiple support requests, back and forth support messages, Facebook messages, and posts to hitbtc (click here) I finally received my 71,000 ripple BACK!
I was lucky to get my ripple back. The moral of the story is DO NOT SEND UR RIPPLE W/o a destination tag!!!! Hitbit has become more credible in my book, due to them fixing my mistake.
Article written by: Harley Owen
You can follow her at: @ CryptoModel on Facebook, Instagram and Twitter