A Bitcoin transaction cannot be reversed, it can only be refunded by the person receiving the funds . This means you should take care to do business with people and organizations you know and trust, or who have an established reputation.
Read moreCan you withdraw money from Blockchain?
Users are now able to withdraw money from their Wallet after first selling them in exchange for money . This will allow them to deposit the money in their bank account depending on which bank you are using.12 Mar 2022
Read moreHow do I undo a transaction in Blockchain?
A Bitcoin user can’t reverse a Bitcoin transaction after confirmation . However, they can cancel a transaction if unconfirmed. A Bitcoin transaction is unconfirmed if the blockchain doesn’t approve it within 24 hours. Miners must confirm every transaction via the mining process.
Read moreCan I withdraw from Blockchain to my bank account?
Not possible . Blockchain is a technology, not money. So, you cannot transfer it to your bank account. You can transfer your cryptocurrencies in your bank account, subject to, whether your bank accepts cryptocurrencies or not.
Read moreCan you get scammed on Bitcoin?
Scammers will often work from any angle or take however much time they need to gain the trust of a potential victim so that they reveal key information or send money to the scammer’s digital wallet. When one of these trusted connections demands cryptocurrency for any reason, it can often be a sign of a scam .
Read moreIs Bitcoin safe and legal?
Is bitcoin legal in India? As earlier discussed, bitcoin, as a medium of payment, has neither been authorized nor been regulated by any central authority in India . Further, no set rules, regulations or guidelines have been laid down for resolving disputes that could arise while dealing with bitcoins.
Read moreWhat are the disadvantages of Bitcoin?
5 disadvantages of cryptocurrency
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