3 Things to Know Before First Crypto Transaction

What an exciting moment! You’re about to experience a new level of financial independence and make your first crypto transfer. For your onboarding to be smooth and pleasant, take a few minutes to read this.

Compared to traditional banking, crypto stands out in terms of convenience, accessibility, lower fees, and speed. Yet, the one stepping into the new world of cryptocurrencies must acquire these three simple rules to stay on the safe side.

Transactions cannot be undone or reversed

Every record made in blockchain stays there forever. Security-wise, it’s a breakthrough, yet it evokes the necessity to check everything twice. As blockchain is decentralised, no entity has the power to reverse the payment or make a refund.

Verify the address and amount carefully

Any mistake in the address leads to funds being sent to the wrong destination, so spend a little extra time going over the payment details. To be more confident, read more about crypto addresses here.

Choose the right network

Some cryptocurrencies are supported on various blockchains. For instance, USDT is supported on Ethereum, Polygon, Tron, Solana, etc. Before confirming a transaction, verify that you choose the network you need.