Crypto Basics | Why can’t on-chain transfers be reversed?
A wallet can only verify that an address is formatted correctly; it can’t tell whether it belongs to the intended recipient. Even if you paste the wrong address, the transfer can still go through successfully.
On-chain irreversibility offers recipients a safeguard: once a transfer has enough confirmations, they don’t have to worry about the sender changing their mind and reversing it.
Related asset: $BTC is priced at 83055.81, up 0.28% in 24h.
Understanding the mechanics can help you avoid some pitfalls, but it can’t replace position management.
#BTC
A wallet can only verify that an address is formatted correctly; it can’t tell whether it belongs to the intended recipient. Even if you paste the wrong address, the transfer can still go through successfully.
On-chain irreversibility offers recipients a safeguard: once a transfer has enough confirmations, they don’t have to worry about the sender changing their mind and reversing it.
Related asset: $BTC is priced at 83055.81, up 0.28% in 24h.
Understanding the mechanics can help you avoid some pitfalls, but it can’t replace position management.
#BTC