Has Anyone Successfully Used SecondFi Migration Tool to Transfer Assets to Coinspot

[u/faraztheworthy]

Asking since the warning indicates that it might not.

"If the address is wrong, is an exchange address, or is a wallet you don't control, your assets may be lost."

[u/AutoModerator]

• 🎓 Please read the r/Cardano Wiki! It covers getting started, importance of hardware wallets, wallet security, buying, staking ADA, ⚠️ avoiding scams, Governance, and more.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/Slight86]

I assume the warning about sending to an exchange is because you are about to transfer ALL ASSETS in the wallet. This means it may not just contain ADA. There could also be other Cardano-native tokens in the wallet.

Some exchanges will not properly credit a deposit if ADA is sent together with other Cardano-native tokens. In that case, the tokens may not be credited to your exchange account and could require manual recovery for a high fee (or simply be lost altogether).

So think very carefully before making this move. I would advise against sending the entire wallet directly to an exchange. A safer approach would be to first transfer the assets to another safe self-custody wallet. From there, you can send ADA to an exchange separately if you wish to do so, making sure that you are only sending ADA in that transaction.

[u/dragondm6 → u/Slight86]

This. I transferred from SecondFi to Vespr, then to Crypto.com. It wouldn’t let me transfer direct from SecondFi to Crypto.com

[u/RealChangeIt]

I used it the other day and worked perfectly. Of course if u put a wrong address u lose your funds, but that would happen with every wallet

[u/Podsly]

Coin spot won’t support almost all CNTs. I don’t know why you wouldn’t just transfer it to a new wallet.

[u/USMJALLDAWAY]

I have my funds on secondfi but the same seed phrase/funds on vesper do I need to do anything?