Before you hit send
Every crypto transaction is final. Once it's confirmed on the blockchain, it cannot be reversed by you, the exchange, or anyone else. This is a feature of decentralization — and it means you need to be careful.
The step-by-step checklist
1. Verify the address
Copy-paste the recipient's address. Never type it manually — one wrong character and your crypto goes to a nonexistent address or the wrong person. After pasting, verify the first 4 and last 4 characters match what you intended.
Some malware replaces copied addresses with the attacker's address. If you're sending a large amount, verify the full address on a separate device.
2. Check the network
This is where beginners lose money most often. If someone gives you an Ethereum address but you send via the BNB Smart Chain network, your funds can be lost or very difficult to recover.
Always confirm: which network is the recipient expecting? ERC-20 (Ethereum)? TRC-20 (Tron)? SOL (Solana)? BEP-20 (BNB Chain)? The address might look similar across networks, but they're not interchangeable.
3. Send a test transaction first
For any significant amount, send a small test (like $5-10 worth) first. Wait for it to confirm. Verify the recipient received it. Then send the rest. The extra fee is worth the peace of mind.
4. Double-check the amount
Crypto amounts can be confusing. 0.1 ETH and 0.01 ETH look similar at a glance but differ by 10×. Take a second to verify the number and the dollar equivalent.
5. Account for gas fees
The amount that arrives is the amount you sent minus the network fee. On Ethereum, this can be significant. On Solana or L2s, it's negligible. But always factor it in so you're not surprised.
6. Use the blockchain explorer to confirm
After sending, copy the transaction hash and paste it into the relevant blockchain explorer (etherscan.io for Ethereum, solscan.io for Solana, etc.). You'll see the transaction status, confirmations, and exact amounts transferred.
Common mistakes
- Wrong network. Sending ERC-20 USDT to a TRC-20 address. Sometimes recoverable, often not.
- Missing memo/tag. Some exchanges require a memo or destination tag for deposits (common with XRP and ATOM). Forgetting it can mean lost funds.
- Sending to a contract address. Sending tokens directly to a smart contract address instead of a wallet can lock funds permanently.
- Clipboard malware. Your clipboard is replaced with an attacker's address. Always double-check after pasting.
Build confidence first
The anxiety of sending crypto for the first time is real. That's why practicing the fundamentals — how transactions work, how fees are structured, how balances update — on a demo platform like Korvex makes the real thing less stressful. You understand the mechanics before the stakes are real.