Help… I’m dumb! (First purchase and first time buying with crypto.

[OldGold]

Looking for some advice here. I made my first purchase last week through a TD. I made payment using Tether (USDT) as requested by the TD and sent a photo of the transaction also as requested. I received a response from TD saying he was confused and that he doesn’t accept BUSD-T. This was confusing for me as well because I knew I had sent tether and not BUSD-T.

I had used my meta mask account to convert BNB coins to Tether and sent from my meta mask wallet to the (ERC20) wallet address the TD sent me. What I didn’t understand or realize at the time was that I sent the transaction under Binance Smart Chain network instead of sending from my Ethereum network. I am guessing this is why the coins converted from Tether to Binances stable coin BUSD-T.

The TD is saying he doesn’t accept BUSD-T and that is why he can’t see my transaction/payment. The Tether has left my wallet and the transaction shows successful. I have emailed the TD and suggested a few resolutions offering to send him an additional $50 for his trouble if he can return payment and I would send the correct or if he could accept the BUSD-T as payment I will still send another $50 for his troubles and as a test to make sure I am sending payment correctly since I plan for this to be the first of many purchases and want to establish a long term mutually beneficial relationship with the TD. I have not heard back from him for 2 days. Does anyone have any advice on how to handle this? I understand this was my fully my mistake for sending a BEP20 coin to an ERC20 wallet (I researched this and realized this was an issue after it was brought to my attention). At this point, there is nothing I can do to retrieve payment given the nature of the crypto. I want to handle this as diplomatically as possible, but it would be hard for me to do future business with a TD that didn’t help fix my mistake. Any suggestions on how to deal with this?

 

[Feefo]

Hi and welcome to RWI! Glad you found your way here.
I'm afraid I can't help you here, personally don't know nada about crypto. Hopefully some informed members will chime in.

Please take some time to read the sticky threads in the new members area (all subsections), learn the basic forum rules and get some very good advice in the process. A number of questions has already been answered there, this is just an example:

Quick links to some of the more prevalent rules of the forum.

The First Constitution of RWI https://forum.replica-watch.info/for...itution-of-rwi QC Rules https://forum.replica-watch.info/for...tle-on-qc-pics https://forum.replica-watch.info/for...of-qc-pictures Glamour pics https://forum.replica-watch.info/for...r-pics-and-rwi Multiple Accounts...

forum.replica-watch.info

As a new subscriber, you've already been directed to this thread, please read carefully and look through the linked additional threads:

You are welcome

If you've just joined and are reading this, welcome to RWI. If you stop here, or read just the next few lines, that's on YOU, but don't ever say you weren't warned. If you are approached by ANYONE, absolutely ANYONE, offering you a watch, or a deal, via Private Message (PM), exercise common...

forum.replica-watch.info

Another good thread to read to understand where RWI comes from and some fundamentals is this:

https://forum.replica-watch.info/threads/the-first-constitution-of-rwi.51989/

Most of the information you need to know to start is there. If you're preparing to buy, read the stickies before ordering. When you're finished, you can continue learning by reading the stickies in all remaining sections. If it's stickied, it's important information.

If you intend to sell, read the sales rules and all stickies in the sales section with particular care and make sure you understand each single rule. Sales rules infraction is taken very seriously here. As a new member you are not eligible to sell. Using the sales section is a privilege, eligibility must be earned, make sure you know and understand how.

For anything else, feel free to reach out to @eBoy or me, we're happy to assist, advise, direct, explain. Don't hesitate.

Don't be afraid to post noob questions in the new members area. In doubt, use the flame free zone. If you feel uncomfortable anywhere in the new members area, please reach out to @eBoy or me. Mutual respect is of utmost importance to us. On the other hand, we're grown-ups and are supposed to be able to deal with a bit of irony, don't take it personally, ever, a bit of irony never harmed anyone. If you laugh at jokes, you'll make friends faster.

This forum is a treasure trove of information and benefits from the engagement of all members who take their time to share their knowledge, help each other out and have some fun. We hope that you'll benefit and enjoy this platform as well as contribute positively to it.

If at any point you feel to contribute also on another level, feel free to pm the boss (trailboss99) to become a supporter and get some little perks with the status (editing rights, for example).

Enjoy the forum.

 

[Winni1611]

First check which Adress you used. Was it from TD site here on RWI ? Then you are safe, this woll come to a good end. If you googled the TD then it might be you got a scamming site - many of them out there.
So we need to know which adress you used.

 

[p0pperini]

Oh my gawd... so there's still people out there persisting with crypto..? Well, sorry for your pain, and good luck with that.

If you get a refund, use Wise and rest assured that good old fiat will work without a hiccup (like it's been doing for centuries).

 

[Karbon74]

sorry for you.

putting myself in the TD shoes, what can he do? If he cannot accept such payment, chances are that he cannot even see the payment nor manipulate it.

This means the money is up in limbo and neither you nor him has it. In such a situation, your $50 is not doing much.

 

[wristguy]

Howdy! I know a lot about crypto.

DO NOT WORRY. YOUR MONEY IS NOT LOST.

Think of blockchain wallets like vaults at different banks that have the same key. Your key can open a vault at many banks. The TD has said that he doesn't support a certain bank, but he still has the keys to access the vault and the money inside.

You will most likely be fine. The only scenario in which your money is gone is if the TD is using an exchange which doesn't support BEP20 tokens.

Here's what you need to do.

1. Determine if the address you sent it to is an exchange
Simple paste the address into https://bscscan.com/ and https://etherscan.io/. These are "explorers", think of them like a labelling machine for the blockchain. If you see a label like "Binance" or "Poloniex" (or any other crypto exchange), the money you sent is being held at a centralised broker/exchange.



The website should also say "Address" and not "Contract" at the top left.

If it says contract, or if it has a label, it's very likely that it belongs to an exchange. In this scenario, your TD will need to log a support ticket with the exchange and ask them to recover the funds. Some exchanges can do this, some can't

2. Give the TD everything they need to recover funds
The TD doesn't have any BNB coins, which are needed to make transactions on the Binance Smart Chain, in their wallet. Since you HAVE made transactions, you have BNB. Send them $1 worth. This is very important, as getting BNB tokens from FIAT is time-consuming.

Next, you'll need to give them instructions on how to access it. All they need to do is access that wallet using Metamask or any other wallet app that supports the BNB Smart Chain, like the Trust Wallet.

I'm sorry this happened to you, crypto is wonderful but it SUCKS because most apps aren't built well. A good wallet app would warn you that you're sending to a contract/exchange address.

 

[TESLA760]

Oh my gawd... so there's still people out there persisting with crypto..? Well, sorry for your pain, and good luck with that.

If you get a refund, use Wise and rest assured that good old fiat will work without a hiccup (like it's been doing for centuries).

I bought a gen Jacob Chiron with my XRP and Dogecoin !

 

[OldGold]

First check which Adress you used. Was it from TD site here on RWI ? Then you are safe, this woll come to a good end. If you googled the TD then it might be you got a scamming site - many of them out there.
So we need to know which adress you used.

Thanks for the reply. Yes, I did follow the link directly from the TD list. I didn't share the TD, only because this was my mistake and didn't want it to seem like i was bashing the TD. He has been helpful thus far. I have seen others new to this forum bashing TD's over simple issues and its embarrassing. I will send an update later this week.

 

[OldGold]

First check which Adress you used. Was it from TD site here on RWI ? Then you are safe, this woll come to a good end. If you googled the TD then it might be you got a scamming site - many of them out there.
So we need to know which adress you used.

Thanks for the reply. Yes, I did follow the link directly from the TD list. I didn't share the TD, only because this was my mistake and didn't want it to seem like i was bashing the TD. He has been helpful thus far. I have seen others new to this forum bashing TD's over simple issues and its embarrassing. I will send an update later this week.

Oh my gawd... so there's still people out there persisting with crypto..? Well, sorry for your pain, and good luck with that.

If you get a refund, use Wise and rest assured that good old fiat will work without a hiccup (like it's been doing for centuries).

I went through intime watches. I knew exactly which watch i wanted and went through the site without contact Ryan first. Crypto was the only option listed under payment and his follow up email requested payment in tether. Does anyone know if he also accepts Wise? I didn't ask. I just assumed this was the way.

Also, I was curious do most people contact their TD directly with the watch they want rather than go through their site? From what i read on this forum, they normally do not keep their sites up to date.

 

[Karbon74]

it's always good to send an email to check avail before ordering. Most will accept a mail order too.
I think the website is more to reassure westerners

 

[OldGold]

Howdy! I know a lot about crypto.

DO NOT WORRY. YOUR MONEY IS NOT LOST.

Think of blockchain wallets like vaults at different banks that have the same key. Your key can open a vault at many banks. The TD has said that he doesn't support a certain bank, but he still has the keys to access the vault and the money inside.

You will most likely be fine. The only scenario in which your money is gone is if the TD is using an exchange which doesn't support BEP20 tokens.

Here's what you need to do.

1. Determine if the address you sent it to is an exchange
Simple paste the address into https://bscscan.com/ and https://etherscan.io/. These are "explorers", think of them like a labelling machine for the blockchain. If you see a label like "Binance" or "Poloniex" (or any other crypto exchange), the money you sent is being held at a centralised broker/exchange.



The website should also say "Address" and not "Contract" at the top left.

If it says contract, or if it has a label, it's very likely that it belongs to an exchange. In this scenario, your TD will need to log a support ticket with the exchange and ask them to recover the funds. Some exchanges can do this, some can't

2. Give the TD everything they need to recover funds
The TD doesn't have any BNB coins, which are needed to make transactions on the Binance Smart Chain, in their wallet. Since you HAVE made transactions, you have B+

NB. Send them $1 worth. This is very important, as getting BNB tokens from FIAT is time-consuming.

Next, you'll need to give them instructions on how to access it. All they need to do is access that wallet using Metamask or any other wallet app that supports the BNB Smart Chain, like the Trust Wallet.

I'm sorry this happened to you, crypto is wonderful but it SUCKS because most apps aren't built well. A good wallet app would warn you that you're sending to a contract/exchange address.

Wow. Thank you for the detailed response. This is very helpful. I did send the TD a link to the transaction. Yesterday, I received a response saying he cannot access the BDB tokens because he doesn't have a Binance account. I will share some of the info from your reply above and see if he will attempt to recover the payment that way. Here is the transaction. https://bscscan.com/tx/0x32e0ea7ffd2e0f964778203a2c7188b48a6164b4d0c86295ac18701b0be515dc . It looks like the address is indeed an address and not a contract. It also looks like i may not be the only one to have made this mistake. I see another BSC-USD transaction for $803.70 sent to his wallet. Maybe i can convince him that a quick set up of a Meta Mask wallet may be worth the $1,179.9 sitting in his wallet. Crossing fingers.

 

[wristguy]

This is good news! I looked at the address - the first transaction in was funding from Coinbase, which signals that this is very likely a wallet address, NOT an exchange address.

The additional $803 in the sweetens the pot even more - now he has a big incentive to access the BNB Chain. Send him a $1 worth of BNB for gas fees. This will HALF the work he has to do.

Next, you have to convince him to install a wallet app or browser extension that supports the BNB Chain by default (so you don't have to configure it to add the chain). This is the hard part. If you give him the wrong impression or send download links, he might think you're trying to steal his seed/secret phrase and rob him.

I would keep your response short and to the point, and ask him to search up specific wallets, and separate your instructions in two sections - one for mobile, and one for browser extension. Make it clear that the BNB chain is a blockchain just like Ethereum, you don't need a Binance account.

Mobile - Safepal and Trust Wallet show BNB assets by default, the instant he puts his seed phrase in there he'll see an extra $1100.
Extensions - He can use the Binance Wallet extension, which should have the Binance Chain configured by default. Alternatively you can send him this article which guides you on how to add the chain to Metamask (in Chinese) https://academy.binance.com/zt/articles/connecting-metamask-to-binance-smart-chain. Metamask is more widely known in China and more trusted, so they might prefer this. The easier way of doing this is going to https://bscscan.com/ and clicking the "Add BSC Network" button on the bottom left of the page.

Once he's done all this, he can send you back your money, or he can convert it to USDT/USDC using an decentralised exchange (like PancakeSwap) and send that USDT/USDC to his exchange of choice (which is Coinbase, I think). One final issue here is that HIS exchange needs to support USDT/USDC on the Binance chain (Coinbase does not). I think this is why he might be saying he doesn't have a Binance account. If I were him I'd just send you money back lol.

 

[wristguy]

If you have any questions or concers, just ask, I'm happy to contribute to the forum!

 

[OldGold]

I cant thank you enough for taking the time out of your day to help me and write such detailed advise! I appreciate you.

I learned a lot from you and researching the internet over the last few days. I wont make this mistake twice.

I just sent my email to the TD. Now we wait and see what tomorrow brings. : )

Thanks again!

 

[shinynewbling25]

If you have any questions or concers, just ask, I'm happy to contribute to the forum!

Hi, I just want to thank you for helping this person and taking the time to write up very clear, detailed, thorough responses. Great to see and thanks

 

[shyreplover]

Hopefully everything goes well for OP.
I have to say @wristguy explanation went over my head the first couple of times reading it.
This post is very educational for an old dog like me who can hardly learn new tricks.

 

[wristguy]

Hopefully everything goes well for OP.
I have to say @wristguy explanation went over my head the first couple of times reading it.
This post is very educational for an old dog like me who can hardly learn new tricks.

Haha my explanation here was rushed and used too much jargon. Would y'all be keen for a proper beginner-friendly post on how to buy/use/send crypto? The 10% discounts are really nice. I do educational content for work so I could spin up some videos too

 

[boonies]

Haha my explanation here was rushed and used too much jargon. Would y'all be keen for a proper beginner-friendly post on how to buy/use/send crypto? The 10% discounts are really nice. I do educational content for work so I could spin up some videos too

a beginner-friendly post on how to buy/use/send crypto (with VISA) would be fantastic! I've been struggling trying to understand how to do it (unsuccessfully so far) and therefore can't send payment for my pending order with InTime. Thanks a ton!

 

[tkingjr]

a beginner-friendly post on how to buy/use/send crypto (with VISA) would be fantastic! I've been struggling trying to understand how to do it (unsuccessfully so far) and therefore can't send payment for my pending order with InTime. Thanks a ton!

If you spend 4-6 weeks reading you will stay out of trouble,

 

[geekedup]

hopefully op gets it sorted out. S/o wristguy learned something new today! great stuff helping out and breaking it down.