WARNING! SENDING CRYPTO IS IRREVERSIBLE!

“SENDING CRYPRO IS IRREVERSIBLE!!! BEFORE YOU SEND BTC TO THIS RECIPIENT, PLEASE MAKE SURE THAT: (1) You know the recipient and trust them; and (2) that you’re sending to the correct address.”

Every time I see that WARNING it makes me think twice about the move I’m going to make, it never fails! If you’ve ever sent crypto to anyone, or even from an exchange to your own crypto wallet, I’m sure you’ve seen that message or something similar.

That’s because there’s no company that’s going to go looking for your crypto if you send it to the wrong wallet address. Your crypto wallet address is a string of numbers and letters (it is also called a public key) that anyone can use to send you cryptocurrency. It is also used on the blockchain to verify transactions. You can think of it as your bank account routing number and checking account number. Crypto addresses have anywhere from 26 to 35 characters.

It is extremely important to check and triple check the wallet address you provide when sending cryptocurrency (which is why you are advised to copy and paste the wallet address rather than manually typing it in). If you make a mistake when entering your wallet address there’s no way to retrieve your coins because transactions on blockchain were designed to be irreversible. Once it’s transferred, your crypto asset will now belong to the person who owns the wallet that it was sent to, so beware!

If you haven’t done it yet and you want to know where your crypto address is, just log in to your wallet app and click on the request or receive button. Your wallet address should pop up. Different wallet apps offer different ways to either copy, scan, or share the wallet address. I’m excited about you buying, selling, exchanging, trading, staking, and holding cryptocurrency; don’t neglect this exciting crypto culture!

See ya tomorrow!

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestion in this post.