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Mistakes to Avoid When Sending Funds to Freewallet

Jan 13, 2021

Avoid these mistakes when sending funds to Freewallet!

As the crypto market is reaching new highs, the intensity of transactions grows. So does the number of erroneous payments. It motivated us to write a short guide to help you avoid frequent mistakes.

Mistake №1. Old wallet addresses.

Although we are doing an inventory check to eliminate out-of-date wallet addresses, we still recommend you to make sure your receiving address is not generated a few years ago.

This way, the XMR addresses should start with “8”. It’s better to take a few seconds to get a fresh address and save yourself a great amount of time and effort.

Mistake №2. Not including a payment ID when sending coins to composite addresses.

A frequently seen complaint in our social media is when currency like Ripple or Stellar was sent but not received. With almost a 100%-probability, we know that no memo or destination tag was put when this payment was sent. In this instance, it won’t take a long time to retrieve your coins. However, this is a manual process.

Mistake №3. Confusion with blockchains.

Many blockchains deliver similar-looking addresses, which causes confusion and sending funds to addresses belonging to a different blockchain. This is the case when BTC funds are transferred to USDT addresses and tokens end their way being stuck on Ethereum wallets, starting with “0x”. By the way, Freewallet maintains a selected range of tokens that you can check out here.

Often, this is about the TRX contracts transacted instead of coins. This error is not irreversible but we need time to fix it.

A few more tips: our EOS, USDT and TRON mobile apps are for handling coins rather than tokens of respective blockchains.

If you have doubts about the receiving address and don’t want your crypto to get stuck in no man’s land, get in touch with our Customer Support team.

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