I am feeling so gutted over my actions on Gemini, and I hope that writing about them will help me feel better.

So, thanks to my grinding on faucets like Pipeflare Gaming, I accumulated more than $10 worth of Zcash. So I eagerly logged on to Gemini, hoping to convert it to BTC. 

But for one reason or another, that action wasn’t available at that time. I was impatient to convert my Zcash to something useful (and then off-ramp it). I did something that was foolish in hindsight.

I swapped my Zcash to USD dollars. I expected to exchange these USD dollars for BTC. 

Imagine my horror when I discovered that this option was not available in Gemini. I could apparently swap BTC for USD dollars, but not the other way round. Since my bank account only accepted SGD deposits, it meant that my USD money was stuck. 

Okay, it wasn’t the end of the world because I could just set up a multi currency account with my primary bank, right? This was what I did immediately. I then inputted the details of this multi currency account into Gemini and made a USD transfer so as to verify this account. My transfer was completed successfully - and I do expect my multi currency account to be verified either tomorrow or the day after tomorrow.

This would mean that I would just need to exercise some patience and wait a day or two before I could withdraw my USD dollars from Gemini. I would lose some money to the currency conversions, but that was the price I paid for a lesson learnt. Deservedly so.

I have picked up the ropes of crypto trading quite well so far, so it is incidents like this that betray my complacency and reveal my ignorance. I should not have expected to be able to swap USD for crypto. In fact, I should have waited another time to just convert Zcash to BTC. I wasn’t that desperate for the money. I should have controlled my impulsivity instead of rushing to get this thing ticked off my to-do list. I will need to do better next time.

Thank you for reading. I feel a bit better now.