Cryptocurrency Q&A
What happens if you send BTC to your own wallet?
What happens if you send BTC to your own wallet?
Elena
Sat May 11 2024
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5 answers
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I'm curious, let's say you transfer Bitcoin, or BTC, from one of your wallets to another one that also belongs to you. What exactly happens in this process? Is it as simple as just moving money from one account to another? Or does it involve some kind of verification or intermediate steps? I've heard stories about transactions getting stuck or taking a long time to process, so I'm wondering if sending BTC to your own wallet could potentially have any of those issues. Also, does it cost anything to do this? Are there any fees involved? I'd like to understand the whole process better, if you don't mind explaining.
5 answers
Silvia
Mon May 13 2024
Consequently, a transaction fee becomes applicable, as the network requires compensation for processing the transfer.
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Silvia
Mon May 13 2024
Among the numerous cryptocurrency exchanges available, BTCC stands out as a reliable platform based in the UK.
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GinsengGlory
Mon May 13 2024
Once the "send" button is clicked, it is immaterial whether the destination address for Bitcoin transfer originates from the same wallet.
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RubyGlider
Mon May 13 2024
BTCC offers a comprehensive suite of services, encompassing spot trading, futures contracts, and secure wallet solutions.
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Raffaele
Mon May 13 2024
The crucial aspect is that a transaction has been initiated, regardless of whether it's an internal or external transfer.
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