Post
Topic
Board Bitcoin Discussion
Re: I Lost Funds When Transferring To Coinbase Because Of Wrong Network
by
Republikcoin.com
on 13/10/2024, 12:47:51 UTC
I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ
It’s not new, although you may have just experienced it now, because every transaction needs to be on the same network before we can make any transactions at this point. And if you can’t withdraw Bitcoin directly from a particular casino, it’s a good idea to start looking at other options other than Bitcoin to be able to withdraw your money from that casino rather than forcing a transaction on a different network and potentially losing your money. So the sending and receiving networks also need to be considered before doing anything because losing money because of a small mistake like that can be very painful for those who experience it.