Why crypto transfers can fail and what you must check before sending
Crypto transfers can fail due to user errors, but most failures are preventable. Common mistakes include sending funds to the wrong address due to a typing error, choosing the wrong network for the transaction, underpaying fees, and verifying wallet compatibility. Even if all details seem correct, transactions can fail due to insufficient gas fees, errors in smart contracts, or network congestion. Users should always double-check recipient addresses and network compatibility before sending, ensure they have enough fees, and consider using test amounts for large transfers. Additionally, regulatory factors like the Travel Rule can complicate cross-border transactions. By taking precautions, such as monitoring live gas fees and using reliable crypto wallets, users can mitigate the risks of failed transactions and gain confidence in their crypto endeavors.
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