transactions Important things to know about Cryptocurrency transactions

[iloveyobit 6599]

true , lot of wallet at this time try are trying to provide the best services for its community , low fees and fast transaction are the most important things that every coin or wallet should consider , but for wallet checks you can forget about it easily and your money can be gone forever . 

[BraveHeart01 1569]

yes and also my friend try double checking the fee for the transaction you are about to make and also you should know that you can also change and reduce the fee you are about to pay off your transaction.

[Serbberq 724]

Thanks for sharing this information, this is type if topic  are important in this section to help beginners to know basis and their meaning in cryptoworld. 

[Alexbhatti 1492]

Very well my friend, you are doing very great job. All the points you have mentioned are really keep in our mind to make a transaction of Cryptocurrencies. This post is not only useful for the existing member but also very useful for the beginners so that they also keep these points in their mind.

[pablomarwan 3082]

Some cryptocurrency wallets charge high fees. This is to ensure that your money will reach the destination you requested. While some of them do not perform large duties and are also safe. These discrepancies in prices do not suit everyone and the word safety is to attract the customer. We must be careful if we deal with one of these portfolios, you may not be able to withdraw from your wallet only because you do not have enough amount. Or it may focus on you.

[Shaza Ahmad 1682]

I would like to talk about transfer fees, while we find that Bitcoin transfer needs high fees, on the other hand, we find that we have many blockchain networks that offer us the advantage of transferring with zero fees, such as the Tron network, I think it is the best network to conduct transactions in terms of speed and low fees .

[Bruno52 1141]

These are very important things to consider when making transactions with currencies but I would like to say that another very important thing to consider is the legitness of the site you are using as there are many scam sites that steal money without completing your desired transaction.

[basel23 1722]

I agree with you. These things must be taken into account when making transfers to ensure a safe and fast transfer process. Some people choose to make their transfers at the lowest possible fees, but this will take a lot of time and it may affect the security of the transaction.

 

[guatazoo 7150]

The important thing for me thats I want you guys to know is about the using of high transactions is good because this will make your transaction to be very secured by confirming the transactions fast and also it is benefits miners. 

[Mcd0d0 5882]

Well, each of cryptocurrency coins has their own transaction fee and transaction time, the coin which is having a huge amount of transaction fee and transaction time is bitcoin because there's a lot of transaction made which is cause a traffic, the transaction fee is huge by being affect for it's own price which is huge too.

[Nupeboy 627]

Thank you for sharing this wonderful ideas with us on how to know about things to know about transactions am sure with this post of yours a lot of the forum members with this we are going to know what to do when we make transactions

[m7md 0]

When sending money to a person, we have to make sure of the wallet address well before sending, due to the presence of viruses that change the address of the wallet in an external wallet, and we must choose transfer fees commensurate with the time that We want it

[Barbarellah 2225]

I congratulate you for the article my friend! They are excellent recommendations. Many of us operate without taking into account all these details, ignoring the fact that we can lose our assets if we are not focused or we choose an unsafe action.

[susan8929 811]

Excellent recommendations for those who are new to cryptocurrencies and do not understand how transactions work. The truth is that in the beginning the transactions can be somewhat complex, but with time everything will be easier to understand.

 

I agree with you, the wallet re-check is essential when making transactions with cryptocurrencies, because it is not possible to make refunds. Unfortunately, a long time ago I made a mistake of that kind and sent money to the wrong wallet. Fortunately it was not much, so it only served as a lesson to me.

[Sp19a1ma019 1076]

Three basic and almost very important point you share about transaction now I will definitely follow these in the time of transactions and chose wallets. 

[khan22 3478]

On 10/24/2020 at 5:14 AM, Calvinpriva said:

When it comes to cryptocurrency transactions, there are a few things to consider for the safety of your currencies and for better services as well. Let's look at some of those important things;

• Transfer fee
• Transaction time
• Wallet re-check

Normally, those three things seem to be very common but in-depth they are very important to consider.
 

 

1. Transfer fee.
There are many wallets that enable us to make cryptocurrencies transactions easily, but each wallet has its own set of transaction fees. Here I am talking about the wallets that allow you to choose your own transaction fee, you can choose a small or large fee for your transaction. In this regard, we must be very careful, because your transaction will be sent and verified in advance based on the fee you have chosen. If you have chosen a large fee, your transaction will be verified and completed within a few minutes, but if you have chosen a small fee, your transaction may take many hours or even days to complete! So we have to be very careful about this, it is not good for your transaction to stay unchecked for a long time on the block because it will be public and anyone can see it, even hackers! So it is better to pay a high fee but to protect your transaction than to pay a small fee but to risk your transaction.

 

2. Transaction time.
This is another important thing when making transactions because there are manual transactions and there are direct transactions. Manual transactions usually take a long time to be completed and confirmed, but automatic transactions are done very quickly even if there are many transactions at the same time on one wallet. So we have to be very careful when choosing a wallet to store and make transactions of our coins.

 

3. Wallet re-check.
This is the most important thing to check, we know that if you make a cryptocurrency transaction to a wrong wallet address you will not be able to return it, your money will be gone! So, no matter what wallet you use for transactions, we must be very careful to double-check the wallet address that we want to send our coins! Otherwise, you will lose your coins!

 

These are just a few of the important things that you need to check when making crypto transactions.

Every wallet have their own fee and peoples will know that and when the transaction orders are so much high then the transaction send and receiving take so much time and when the coin price is high the fee is also high at that time.

[Sykkuno 2887]

Important to read all the instructions too as some coins ask for more than just the address, perhaps even demand a note, or like in xrp a secondary adress number to be given, so in cases this is mistaken or skipped the money can be lost and never recovered or given, if the receiver is an exchange.

[Razan alikac 1899]

Transaction fees vary from time to time and we have to choose an appropriate time in which the fees are low and we must write the address of the wallet correctly and make sure of it. Any error leads to the money going to another address and the inability to retrieve it

[cryptovlek 2597]

On 10/24/2020 at 3:14 AM, Calvinpriva said:

So we have to be very careful about this, it is not good for your transaction to stay unchecked for a long time on the block because it will be public and anyone can see it, even hackers!

I don't think there is a security problem if the transaction is pending for too long. If fees go lower it will be selected by miners and included in a block. If fees stay higher the transaction will stay in the pool and not be selected until the network becomes less congested.

[JanBomCrypto 494]

On 10/24/2020 at 1:14 AM, Calvinpriva said:

This is the most important thing to check, we know that if you make a cryptocurrency transaction to a wrong wallet address you will not be able to return it, your money will be gone!

@Calvinpriva this statement is correct but not fully true, like if you send bitcoin with low transaction fee, and not yet conformed, you can use rbf to replace the fee. But normally, if conformed already, it can not be replaced. Most most often, transaction would have for one confirmation already and can not be reversed. 

[Lapulga04 259]

On 10/24/2020 at 1:14 AM, Calvinpriva said:

When it comes to cryptocurrency transactions, there are a few things to consider for the safety of your currencies and for better services as well. Let's look at some of those important things;

• Transfer fee
• Transaction time
• Wallet re-check

Normally, those three things seem to be very common but in-depth they are very important to consider.
 

 

1. Transfer fee.
There are many wallets that enable us to make cryptocurrencies transactions easily, but each wallet has its own set of transaction fees. Here I am talking about the wallets that allow you to choose your own transaction fee, you can choose a small or large fee for your transaction. In this regard, we must be very careful, because your transaction will be sent and verified in advance based on the fee you have chosen. If you have chosen a large fee, your transaction will be verified and completed within a few minutes, but if you have chosen a small fee, your transaction may take many hours or even days to complete! So we have to be very careful about this, it is not good for your transaction to stay unchecked for a long time on the block because it will be public and anyone can see it, even hackers! So it is better to pay a high fee but to protect your transaction than to pay a small fee but to risk your transaction.

 

2. Transaction time.
This is another important thing when making transactions because there are manual transactions and there are direct transactions. Manual transactions usually take a long time to be completed and confirmed, but automatic transactions are done very quickly even if there are many transactions at the same time on one wallet. So we have to be very careful when choosing a wallet to store and make transactions of our coins.

 

3. Wallet re-check.
This is the most important thing to check, we know that if you make a cryptocurrency transaction to a wrong wallet address you will not be able to return it, your money will be gone! So, no matter what wallet you use for transactions, we must be very careful to double-check the wallet address that we want to send our coins! Otherwise, you will lose your coins!

 

These are just a few of the important things that you need to check when making crypto transactions.

Thanks friend for sharing this information with the forum, joined the forum recently and am currently learning the basis to facilitate my transactions, I guess there's alot to learn and care has to be taken in making transactions as even making address mistakes can cause loss of coins.

[P A Ashif 2409]

Actually what is the benefit of this type of post is that, people like me who have spent more than 100 days it is like a checklist that what we have learned till now. And I found that still I found many new things. And for those who are new this will be a complete combo pack.

[khan22 3478]

Transfer fee checking is so much important and i heck that also and the transaction id becasue if we send the coins any wrong address then we lost our coins and that will never come back again. So checking is so much important.

[MK AHMAD 1134]

Hi mate you are right there are basic important things we need to know when making transactions and the things you mentioned are very good write up and a good idea also we need to consider those three key thing's during transactions transfer fee, transfer time and re-check of wallet one need to follow a wallet that is easy and fast which charges are low during transactions and make sure you re-check your wallet very well in order not to send money to a wrong address so let's be careful and mindful 

[yonkii 3205]

I recently read about the malware that is changing the send address into one of scammers and if we don't pay attention it will just change it when pasting. So, I consider it to be very important for all users of cryptocurrencies to be on the lookout always and recheck the addresses we send our crypto.

High fees make me feel this market is still at a very early stage. I read about how Bitcoin and Ethereum when earlier they had very low fees, but currently the fees have exploded and are reducing these blockchains use case. Maybe having a coin that will solve this problem will be a better choice in the future.