Cryptocurrency Q&A
What happens when you send crypto to a friend?
What happens when you send crypto to a friend?
HanjiArtistry
Tue Jun 11 2024
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6 answers
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Could you please explain what exactly happens when I transfer cryptocurrency to a friend? I'm curious about the entire process from start to finish. For instance, how does the transaction get initiated? What role does the blockchain play in this? And how does my friend receive the crypto on the other end? Is there any sort of verification or confirmation required? I'm also wondering about the security aspect of it - is the transaction secure, and how can we ensure that? Lastly, are there any fees involved in sending crypto, and if so, how are they calculated? Thank you for clarifying these points for me.
6 answers
DaeguDivaDanceQueen
Thu Jun 13 2024
Cryptocurrency transactions undergo a verification and confirmation process once initiated.
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benjamin_cole_nurse
Thu Jun 13 2024
This verification ensures the legitimacy and security of each transaction, safeguarding users' funds.
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DondaejiDelight
Thu Jun 13 2024
The duration of this process can vary, ranging from mere seconds to several minutes, depending on network congestion and other factors.
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CryptoMystic
Wed Jun 12 2024
For Coinbase customers, a unique feature is available: sending cryptocurrencies to any email address in over 100 countries, free of charge.
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GyeongjuGloryDays
Wed Jun 12 2024
This service offers convenience and flexibility, enabling users to transfer funds securely and efficiently.
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