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STAGE 2 • STEP 5 OF 6

✅ Transaction Safety Checklist

Time Required: 8 minutes

Why This Matters

💀 Top 5 Costly Mistakes (And How to Avoid Them)

Mistake 1: Wrong Address

Sending to an incorrect or malware-modified address. Funds are irretrievable.

✓ Solution: Always verify first 4 and last 4 characters. Use small test amounts first.

Mistake 2: Wrong Network

Sending Bitcoin to a Bitcoin Cash address (or vice versa). Different coins, lost funds.

✓ Solution: Confirm you're on Bitcoin network (BTC). Check address format starts with "bc1" or "3".

Mistake 3: Tiny Fee = Stuck Transaction

Setting fee too low. Transaction stuck for days or weeks.

✓ Solution: Use wallet's recommended fee or check mempool.space for current rates.

Mistake 4: Trusting Clipboard

Malware changes copied address. You paste attacker's address instead of recipient's.

✓ Solution: ALWAYS verify the pasted address character-by-character before sending.

Mistake 5: No Confirmation Check

Assuming transaction went through without checking blockchain confirmation.

✓ Solution: Track transaction on mempool.space. Wait for at least 1 confirmation.

Pre-Send Safety Checklist (USE EVERY TIME)

Bookmark this checklist. Run through it BEFORE every transaction.

Address Verification Guide

The single most important skill: verifying addresses correctly.

✅ Practice: Verify Bitcoin Address

Paste any Bitcoin address below to practice checking first 4 and last 4 characters:

Try pasting your wallet's receiving address, or use this sample: bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh

Method 1: First 4 + Last 4

Example: bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0

Check: First 4 = xy2k | Last 4 = jhx0

Method 2: QR Code (Safest)

If recipient shows QR code, scan it. No typing = no typos. But still verify the address shown after scanning.

Method 3: Small Test First

For amounts over $100, ALWAYS send $5-10 test first. Confirm it arrives. Then send the rest.

Pro Tips

  • Save frequently used addresses in your wallet's address book
  • Use labeled addresses ("Mom", "Merchant X", etc.)
  • For large amounts, verify via second channel (call recipient, text separately)
  • Never trust an address sent via email only (can be intercepted)

🚑 Troubleshooting Common Issues

Transaction Stuck (Low Fee)

Symptoms: Transaction unconfirmed for hours/days

Solution: Wait (it will eventually confirm or be dropped). Some wallets allow "replace-by-fee" (RBF) to increase fee.

Transaction Not Showing Up

Symptoms: Sent but recipient doesn't see it

Solution: Check transaction ID on mempool.space. Confirm it's broadcasting. Check recipient is looking at correct wallet.

Wrong Amount Sent

Symptoms: Sent 0.01 instead of 0.001

Solution: Contact recipient if known. Otherwise: irreversible. This is why we test with small amounts.

Sent to Wrong Address

Symptoms: Realized address was wrong after sending

Solution: If you control that address (old wallet, etc.), recover it. Otherwise: funds are lost. No reversal possible.

Key Takeaways

🏁 What You've Learned:

  • Most losses are preventable with simple checks
  • Always verify addresses character-by-character
  • Test transactions for large amounts
  • Use the safety checklist EVERY time
  • Bitcoin transactions are irreversible - caution is mandatory

Next: Module 6 covers quick security essentials to protect your wallet and funds.

🛠️ Essential Tools for Safe Transactions

Use these tools BEFORE sending real Bitcoin:

Fee Master Tool

Check current fee rates and optimize transaction costs

Check Fees →

Transaction Builder

Practice building transactions step-by-step

Build Practice TX →