How to Avoid Sending Your Crypto to the Wrong Address

[Cryptoverse]

One of the most thrilling (and nerve-wracking) things about crypto is that transactions are irreversible. Unlike with money, in crypto there are no banks or intermediaries who can conduct chargebacks, reverse transactions, automatically take funds from an account, freeze accounts, halt, or censor transactions. But the flip side of that is that once you hit send, there’s no “oops” button to bring it back. If it goes to the wrong address, your only hope is that the person on the other end is feeling generous enough to return it, which is highly unlikely. There is no customer support to bail you out so you’ve got to be extra careful every time you send.

Here’s how to make sure your funds end up where they belong:

• Copy and Paste the Address (or Use a QR Code): Always, always copy and paste the destination address, or better yet, scan a QR code if that’s an option as it is with some wallets. This way, you avoid typing errors. Double-check that there aren’t any sneaky spaces hiding before or after the address when you paste it in.
• Double-Check After Pasting: Even when you copy and paste, take a second to verify the address. Clipboard hijacking malware is real and can swap out your intended address for a hacker’s. A quick glance to verify the address can save you a world of trouble.
• Get a Crypto Domain: Consider investing in a crypto domain like “yourname.eth.” It’s a much easier and safer way to send funds, and you don’t have to worry about remembering long strings of characters or falling victim to clipboard malware.
• Pick the Right Network: This is where many new crypto users slip up. When you’re withdrawing from an exchange like Binance, you’ll often have to choose a network. Don’t just guess or go for the cheapest one, make sure it matches what the receiving wallet or platform supports. Otherwise, your funds could disappear into the crypto void.
• Destination Tags/Memos Matter: Some cryptos, like XRP and XLM, require an extra step, a destination tag, or memo. Many centralized platforms also ask for a tag, memo, or verification number. Skip this step, and your funds could be lost forever. Always check if you need to add one, and don’t forget to include it! If you are unsure, reach out to the support team for the exchange, wallet, or platform.

By following these steps, you’ll ensure your crypto ends up at the right destination.