Transaction succeed but didn`t received tokens

ETHEREUM
#1

Hello everyone,

i would kindly ask for your help.

Yesterday i have made a transaction from my Metamask wallet to Kraken exchange. I was transacting USDC.

Apparently on etherscan transaction succeeded almost 11 hours ago: https://etherscan.io/tx/0x1b335aa0e1a617ffcbcf6d540da915a91e1f13123b58b1785c585714ad0f3187

But i didn`t received tokens on my Kraken account but i still have them on my Metamask. I also paid the fees for transaction.

Any suggestions why this has happened?

Thanks a lot and a have a great day.

Matic

1 Like
#2

Tokens Transferred:* From 0xca92f726d89d7b04060b7de5e1ffb3967b693ca3 To 0xb86c9995a2d5603ad14007fe78581e815e732357 For 0 ($0.00) USD Coin (USDC)
Can check by yourself. The transaction is complete. But you made a TX for 0 USDC. Obv you have paid the ethereum fee :grimacing:
Keep attention in every step whenever send, swap or use smartcontract, in general when u want use coin or a token dont rush. Check and double check the data. Only then press the botton!

2 Likes
#3

Hey there, thanks for the reply!

Wow i didn`t even see that. All i know is that i was 100% sure i clicked “max” so i would transfer all the USDC from my wallet to Kraken. I guess i made a typo somehow, somewhere in the procedure.

Shit… it happens… :face_with_hand_over_mouth:

Thanks for letting me now :slight_smile:

1 Like
#4

If you don`t mind asking since we are already talking about transactions, how come that if i transfer funds from an exchange that exchange charges me much less fees in comparison to a fee from transfering from a Metamask or to swap tokens on Uniswap?

Here is a transfer i made yesterday. I transfered 116 USDC from Kraken to Bittrex and i only paid 2.5 USDC but if you look on the Etherscan the transaction fee was $36. So who paid the difference? https://etherscan.io/tx/0x871a8303393ec46927c0a322f34d615c13a84ae42dfd377718d290ddb56a5801

Meanwhile i also made a transfer from my Metamask to Bittrex for half of value of USDC and i paid almost $7 (bear in mind that i manually put in how much gas will i pay so i have waited longer for transaction to complete. Normally i would pay around $20)

So who is paying the fee if you transfer from the exchange? The exchange itself?

Thanks man.

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#5

Yes the exchange pay the fee in some way. They have ensure this with economic models, but i think can be easy with all the different earnings from exchange fee. Also they use a fixed price for withdraw fee not the fee market price and when they want can easily up that.
If someone can please explain better how it is possible with exchange management & tokenomics in big exchange like Kraken or Binance. It would be appreciated!

1 Like
#6

Thanks for the reply!

Yes sounds reasonable. Exchanges are earning a lot of money from trading fees, borrowing fees etc… I guess that paying for the transaction is not a bid deal for them.

Thanks again, have a great weekend!

1 Like