I pasted the wrong receiving address. Can the platform reverse the transaction?
This is how I understand it: the irreversibility of on-chain transactions protects the recipient. Once a payment has received enough confirmations, there’s no need to worry about the sender changing their mind and reversing it.
When withdrawing from an exchange, once the request is broadcast to the blockchain, the platform can’t reverse it either. Cancellation is only possible while it’s still under review.
Current market price: $BTC is at 73848.18 (24h -1.3%).
#BTC
This is how I understand it: the irreversibility of on-chain transactions protects the recipient. Once a payment has received enough confirmations, there’s no need to worry about the sender changing their mind and reversing it.
When withdrawing from an exchange, once the request is broadcast to the blockchain, the platform can’t reverse it either. Cancellation is only possible while it’s still under review.
Current market price: $BTC is at 73848.18 (24h -1.3%).
#BTC