✅ Transaction Safety Checklist

Time Required: 8 minutes

Why This Matters

Most bitcoin losses come from user error, not hacks
One wrong character in an address = funds lost forever
There's no customer service to reverse mistakes
This 8-minute checklist prevents 95% of costly errors

💀 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.

✓ I am sending on the BITCOIN network (not Bitcoin Cash, not Lightning)
✓ I have the correct recipient address (verified with them)
✓ Address starts with "bc1", "3", or "1" (valid Bitcoin format)
✓ I verified FIRST 4 and LAST 4 characters match exactly
✓ For large amounts: I sent a $5-10 TEST first
✓ Fee is set appropriately (not too low, not wastefully high)
✓ Amount is correct (decimal point in right place)
✓ I am NOT in a rush - rushing causes mistakes
✓ After sending: I tracked transaction on mempool.space

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.