First jump on the topic on what happens when bitcoin sent to the wrong address? You must understand what we mean by transferring a bitcoin to the wrong address. The following conditions are given below –
• What if we sent bitcoin to a dissimilar blockchain?
• Entering the wrong wallet address
• Type the wrong address for sending the bitcoin.
Before beginning the cases in deep you need to understand what is blockchain address? And where it is stored? The blockchain is near about 27-34 digit code consisting of numbers and letters. The address is generated by the wallets where you store your cryptocurrencies. Below each and every case are explained individually.
1. What if we sent bitcoin to a dissimilar blockchain?
As we all know it is impossible to send the bitcoin to the Litecoin address. Because each wallet has its own address and the code of the address starts from a different letter. The address code of the bitcoins starts from “1” and the address of the Litecoin starts from the “L”. If you want to send the bitcoin from the Litecoin wallet then the wallets will show that the address is invalid.
If you are using a multi-signature wallets address then this type of mistake can be done. If the blockchain accepts the address and you transfer the amount then it is very difficult to get back the money.
2. Entering the wrong wallet address
Always remember the one thing never type the address instead of typing the address copy and paste the address is the best way. As we all know the address of the bitcoin is near about 32-bit and starts from 1. So it is impossible to make any mistakes. If you mistype any bit then your money will be sent to another person. And it is a very difficult situation for everyone.
3. Typing the wrong address for sending the bitcoins.
If you type the wrong address then you think your transaction is failed but it is not true the blockchain does not know the address you type is exist or not. It only knows the valid address. Technically the money is present in the system but no one has the public key of this wrong address to use this money.
As we all know the amount you sent to the wrong address is not refundable. So to avoid these types of mistakes enter the address carefully always copy and paste the address for making the transactions.