PSA: Check, double check, triple check every transfer (Patreon)
Published:
2023-09-11 01:02:50
Imported:
2023-09
Content
Remember, in the world of crypto transfers, thoroughness is your best defense against errors and potential fraud.
This individual got with with a 20 Bitcoin FEE - yes! 20 BTC.
Here is a short checklist:
Transfer Checklist:
- Recipient Address:Check that the recipient's wallet address is correct.
Double-check by verifying the first few and last few characters.
Triple check by cross-verifying the address with the recipient. - Transfer Amount:Check the amount of crypto you are transferring.
Double-check to avoid any typos or errors.
Triple check especially if transferring large amounts. - Transaction Fees:Check the transaction fees to avoid any surprises.
Double-check if the fee seems unusually high or low.
Triple check by confirming the average transaction fees at that time on the network. - Gas Fees (for networks that require them):Check the gas fee settings to avoid delayed transactions.
Double-check by comparing with the average gas fees at that time.
Triple check by adjusting the gas fees if necessary for urgent transfers. - Memo/Tag (if required):Check that the Memo/Tag is entered correctly, if the recipient address requires one.
Double-check with the recipient.
Triple check to avoid loss of funds. - Security:Check that your device is secure and free from malware.
Double-check by verifying any browser extensions or apps involved in the transaction.
Triple check by conducting a security scan before the transfer.
Post-Transfer Checklist:
- Confirmation:Check the transaction ID once the transfer is initiated.
Double-check by verifying the transaction on a blockchain explorer.
Triple check by confirming receipt with the recipient. - Documentation:Check that you document the transaction details.
Double-check the details for accuracy.
Triple check and store the documentation in a secure place.