Is it possible to lose your coin for choosing the wrong wallet?

[Domithra]

Every coin has its own Blockchain and compatible wallet. ERC20 wallets supports all Ethereum based coins but do not support coins built on the STEEM, EOS, etc Blockchain. Sending coins to the incompatible wallet will lead to the lost of the coin.

[LogiC]

Yeah mate, there's a chance to loose it at it has a different configuration blockchain. The system will invalidate the transaction, but I'm not sure if this will go back to the original address or will loose. Interesting question, but this one isn't new, Im sure there are people with high curiosity to try this out just to see what would happen. My bet is it will return as the transaction is invalid to process. Hope every chain is like that. Cause inevitable to make mistake sometime and losing our precious coin that way is really heart breaking.

[ayatoslaw]

it is a risk that must be obtained by the sender of the coin or token, that is why it must be careful before sending the coin, and check at least 2 to 3 times before sending it.

[trackermoney]

Yes, maybe that happened. It could be because the wallet is susceptible to viruses or even susceptible to being hit by hackers and coin thieves, namely Hackers. It is also true you say, that sending coins to an incompatible wallet will cause the loss of coins. That can all happen. So you have to choose a good and safe wallet.

[LogiC]

Yes, maybe that happened. It could be because the wallet is susceptible to viruses or even susceptible to being hit by hackers and coin thieves, namely Hackers. It is also true you say, that sending coins to an incompatible wallet will cause the loss of coins. That can all happen. So you have to choose a good and safe wallet.

Hello there I'm curious if the process could revert back the transaction to the owner or sender. Since that could considered an invalid transaction, It's quite depressing that the coin will loss just like that. Probably tx transaction will not occur in a block since it error. Do you have the idea if this will happen or scenario it does happen?

[sampoerna]

Chances are you lose coins because you are wrong and do not match the procedure in storing. But it could be because your wallet is not safe and easy to break into by hackers. They are criminals in this Crypto. So for this I recommend that you use a good and trusted wallet like Myetherwallet. That's all my opinion for this.

[Ibraheem]

Yes its possible, because if the owner of the coin is careless or misplaced his wallet,then he will probably lose is coin or tokens

[Hope15]

Yes it's possible to happen cause my friend had a bad experience like that her funds lose in sato wallet and she can't log in anymore till then her coin stock on an exchange and she never use wallet again.

[jameslysa]

actually there are many factors that cause our coins to be lost due to wallet factors, but for the moment I think the biggest factor is due to negligence in storing personal data, which causes the wallet to be hacked, or it could also open a phishing web or open an email that is at risk of spam. therefore I think to reduce it is to start to be more careful in storing our personal data. if for hackers to get into the blockschain it might be very difficult because it requires an algorithm that is really complicated in it

[horseheadnebula]

Of course it is. You have to be very careful when transferring and storing cryptocurrencies. If you are not sure which wallet to choose and transfer your funds to, then please ask someone you trust about this. Or better; Do your own research and find out about the best method and the wallet to use. Crypto is all about research and if you DYOR right, then you can't go wrong.

[Zed0X]

I had a different thought when I read the title of the thread, I though it had something to do with wallet hacks etc.

[AltLogan]

Not only different coins transferred to the inappropriate wallet can be the reason of losing coins.
There are many unsecured wallets that also can be very disappointing issue to lose.

[Darksoul]

Exactly.  All the coins that you send to the purse of another platform go nowhere, and as far as I remember, they cannot be returned!

[Dodo]

If you are not sure which wallet to choose and transfer your funds, please ask someone you trust about this. Or better, do your own research and find out about the best method and wallet to use. Crypto is all about research. You have to be very careful when transferring and storing cryptocurrency.

[Leebarnes]

Every coin has its own Blockchain and compatible wallet. ERC20 wallets supports all Ethereum based coins but do not support coins built on the STEEM, EOS, etc Blockchain. Sending coins to the incompatible wallet will lead to the lost of the coin.

absolutely sending coins/token to an incompatible wallet your coins/tokens will be lost blockchain is an irreversible transaction better to double check the details before sending.