Can I use bitcoin wallet to save MaidSafeCoin?

Beginners
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Hello! I’m a beginner and just bought some MaidSafeCoin. This is what I did:

  • Bought some BTC from coinbase
  • Transferred BTC to Poloniex
  • Created BTC address from bitaddress.org
  • Bought MAID in Poloniex and then transferred it to the address created in step 3 above.

I also created an account in blockchain.info and imported my BTC address there (watch only mode). I can see that Polonix transferred my MAID coins to that address. However it’s showing it in BTC (I bought about 1015 coins and the amount in address is 0.0000273). So I am a bit confused here. Why I had to go through these convoluted steps to purchase MaidSafeCoin as I eventually ended up having some bitcoins in my MaidSafeCoin wallet ? When safecoin will be made available, will I be able to exchange these 1015 MAID coins to safecoins or will it depend on the exchange rate of 0.0000273 BTC ?

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Yes, the BTC is not real, it appears because bitcoin wallets don’t recognise your MaidSafeCoin. As @Runswick says, if you watch/inspect using omniwallet.org you will see your MaidSafeCoin and any bitcoin at the address correctly. So, yes, when the network is live you will be able to exchange for 1015 SafeCoin.

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I think this is excellent and accurate! Great job explaining it and I will be using this in the future to explain to others. Thank you!

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It’s like…
If a Bitcoin transaction is sending money to someone, the Omni transactions are something you write on the cash with a pen before sending the cash. Or more like engrave into a penny and send them the penny. The true value in the transfer isn’t the penny, but rather what you engraved

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480×270 2.68 MB

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Haha, ya after I posted I thought maybe there aren’t many NBA fans in this forum. This was Vince Carter during the All Star slam dunk competition one year. He was doing some insane dunks, and in the middle of the competition declared “it’s over”. No other entrants does make it easier :slight_smile:

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Hi should I be worried about my MAID saved on bitcoin wallet generated using the instructions posted (using bit address.org) in this thread? I see people are worried about USDT hack and omniwallet. I use omniwallet to see balance and send bitcoin to exchange.

Am I safe ?

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I believe you are ok.

I am not worried about my omniwallet wallet

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Is there any reason one shouldn’t just leave maidsafe coins on Poloniex?

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Hmmm… at 10 coins per transmitted amount if your short term trading no reason why you shouldn’t leave them on the exchange. Long term holding… What if Poloniex is hacked? Or shutdown? Or coins otherwise lost? If you don’t own the private key you don’t own the coins… if you lose your private keys you are to blame for your loss. If the exchange loses your keys, you are to blame for trusting them. Take ownership and responsibility of your coins, backup well.

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@newbie, this is an existing thread that may help you out:

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If you are already on Poloniex thats cool, they are not taking any new accounts at present.