Cryptocurrency Q&A
What happens if you send crypto to your own address?
What happens if you send crypto to your own address?
Davide
Sun May 19 2024
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7 answers
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Could you please explain what happens when someone sends cryptocurrency to their own address? I'm curious about the technicalities involved in this process. Would the transaction still go through? Would there be any fees involved? And how does the blockchain handle such transactions? I'm trying to understand the implications of sending crypto to the same address and how it affects the overall cryptocurrency ecosystem. Thank you for your clarification.
7 answers
Raffaele
Tue May 21 2024
The recipient address, in this case, belongs to the sender themselves, but Bitcoin's protocol is unaware of this fact. It treats every transaction equally, without distinguishing between internal and external transfers.
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Luca
Tue May 21 2024
This anonymity feature of Bitcoin is one of its key attractions. It allows users to conduct transactions without revealing their personal information or financial status.
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WhisperWind
Tue May 21 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services to its users. These services cater to the diverse needs of the crypto community.
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CryptoMaven
Tue May 21 2024
Bitcoin transactions are anonymous and decentralized, ensuring privacy and security for users. When sending money to oneself, the process appears indistinguishable from any other transaction.
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CryptoElite
Tue May 21 2024
Among BTCC's offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices. This service provides liquidity and convenience for traders.
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