Crypto transaction discrepancies

  • Thread starter indub
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In summary: Coinmarketcap is a terrible resource for tracking crypto costs because it only lists coin prices and not the cost basis of the coins. For example, if I own 1 ETH and the price of ETH is $500, my cost basis in ETH is $500. However, if the price of ETH goes up to $550, my cost basis in ETH has increased to $550 because my original 1 ETH is now worth 2.5 ETH. This is why it's important to track your cost basis in more detail than just looking at the price of the coin.In summary, Coinmarketcap is a terrible resource for tracking crypto costs because it only lists coin prices and not the cost basis of the coins.
  • #1
indub
2
1
Not sure where else to post this question. I'm trying to figure out how to accurately record some crypto trades in my spreadsheet to track my cost basis in more detail but I've noticed a possible issue between what actually is transacted vs what etherscan shows.

For example, from Coinbase I send .2298 ETH (which is the amount after the ETH fee is removed) to a Metamask wallet. The Metamask wallet receives .2287 after the Metamask ETH fee is removed. I would assume that adding the Metamask ETH fee onto .2287 would net the same .2298 sent from Coinbase but it doesn't, it comes to .2292. Where is the missing .0006 ETH going?

Only thing I can think of is Coinbase provides a transaction receipt with the actual value as the transaction occurs, which differs from the etherscan transaction recorded. Metamask does not provide a transaction receipt so I can only review the etherscan transaction. However, the amount of ETH received in Metamask correlates accurately with the etherscan transaction, which to me appears as if .0006 ETH have just disappeared.

Any help would be much appreciated!
 
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  • #2
I figured it out and probably need to contact Coinbase for further inquiry. All of my other ETH transfers from Coinbase to Metamask are correct, ETH always goes from a Coinbase address to my wallet. The strange transaction above goes from Coinbase to some other address, then to my wallet. Two separate etherscan transactions. That's where my other .0006 ETH went. It's actually listed as a failed transaction in the log at the bottom of the etherscan transaction listed in Metamask, and the miner fee is .0006 ETH! That brings up another question, if a transaction fails are we still on the hook for the miner fee?
 
  • #3
As far as I remember reading, yes, if a transaction fails you still pay the transaction fees. I don't know the details to answer your other questions or comment them, sorry.
 
  • #4
Sell it all and don't look back. The crypto“currency” space is inherently fraudulent because they're all multi-level marketing pyramid Ponzi schemes by default. One might want to listen to @milner_aviv's When The Music Stops podcast to learn why: .

“This is the singularly best podcast I've ever heard between a crypto skeptic and a believer. Milner Aviv really dives into a Socratic discussion about the central economic problem of negative-sum investment schemes.

Absolutely worth a listen.” —Stephen DiehlAlso, why ask this question on this forum?
 
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What are crypto transaction discrepancies?

Crypto transaction discrepancies refer to inconsistencies or discrepancies in the recorded information of a cryptocurrency transaction. This can include errors in the amount sent or received, incorrect addresses, or delays in the transaction process.

Why do crypto transaction discrepancies occur?

Crypto transaction discrepancies can occur due to a variety of reasons, including human error, technical glitches, or fraudulent activity. They can also occur when there are delays in the blockchain network, causing transactions to be recorded at different times.

How can I prevent crypto transaction discrepancies?

To prevent crypto transaction discrepancies, it is important to double-check all transaction details before sending or receiving cryptocurrency. This includes verifying the correct address and amount, as well as using reputable and secure platforms for transactions.

What should I do if I encounter a crypto transaction discrepancy?

If you encounter a crypto transaction discrepancy, the first step is to verify the transaction details and make sure there are no errors on your end. If the discrepancy persists, you should contact the platform or exchange where the transaction took place for further assistance.

Are crypto transaction discrepancies reversible?

In most cases, crypto transaction discrepancies are irreversible. However, some platforms or exchanges may have dispute resolution processes in place to address these issues. It is important to carefully read the terms and conditions of any transaction before making it to understand the potential risks and policies in case of discrepancies.

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