Does anyone else get crazy high anxiety when they transfer btc between wallets?

o_e_l_e_o

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Quote from: Lawrenzoo on August 13, 2019, 03:30:48 AM

Sometimes it can really be frustrating, having to wait for transaction and imagine that you needed it urgently to withdraw, there is a transaction that was sent to me once particular day around 2 pm, I didn’t get the money drop until about 1 pm next day.

This is one of the many problems you face when using a third party custodial wallet such as a web wallet or an exchange; many do not give the option to choose your own fee, and many don't broadcast the transaction straight away, instead opting to hold your transaction until they have a large enough number of transaction to batch them all together to save themselves some fees. The real irony is that you often end up spending more in fees than if you held the coins in your own wallet, and you get a slower transaction despite paying more.

If you keep your coins in your own wallet, you can set a fee high enough to confirm in the next block.

Jating

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There's nothing you can do but to wait. If you put all information and pretty confident that it is the right address when why are so nervous about it? You don't need to go to length to do yoga or something, just keep relax and watch it transpired into blockchain.com or whatsoever bitcoin block explorer you wanted to.

I would understand that you became frustrated but if you make sure every data is correct then nothing to worry, Also, in this game, patience is the key, otherwise you won't survived in this market when you don't have that kind of mentality.

Lawrenzoo

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Quote from: maxreish on August 13, 2019, 12:57:20 AM

Well, waiting is the hardest part. Grin

But bitcoin transactions are really slow, I remembered I am too worried before when my btc still not yet arrived the whole night. I tripled checked the btc address where I have sent it and it was right, so it made me feel comfortable and think that it was just a natural scenarion in bitcoin transferring.

What did i do while waiting? Still do the usual things, not yoga but working and reading stuffs about crypto in this forum. As long as the btc address is correctly copy pasted, nothing to worry about.

Sometimes it can really be frustrating, having to wait for transaction and imagine that you needed it urgently to withdraw, there is a transaction that was sent to me once particular day around 2 pm, I didn’t get the money drop until about 1 pm next day.

maxreish

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Well, waiting is the hardest part. Grin

But bitcoin transactions are really slow, I remembered I am too worried before when my btc still not yet arrived the whole night. I tripled checked the btc address where I have sent it and it was right, so it made me feel comfortable and think that it was just a natural scenarion in bitcoin transferring.

What did i do while waiting? Still do the usual things, not yoga but working and reading stuffs about crypto in this forum. As long as the btc address is correctly copy pasted, nothing to worry about.

Thirdspace

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Quote from: HughCaires on August 06, 2019, 03:30:07 PM

What do you guys do while you wait? Yoga? Help me.

read this forum to kill time Grin

no need to worry about your transaction, it will be confirmed in good time
just have to double check before broadcasting and re-check on block explorer everything as intended

for me, I get anxious while having my bitcoin in an exchange
there is always a possibility that the exchange gets hacked or locks my account Cry

and there is nothing I can do to save my bitcoin when it happens

LTU_btc

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Slava Ukraini!

I have similar feelings, especially when transfering large amounts of BTC. I always check everything 3-4 times before I send BTC to be sure that address and amount is correct. But after that I still have fear that some symbols in recipient address might be changed by some kind of malware. Usually I relax only when I see that transaction start to get confirmations. Maybe my paranoia should be gone after all these years in crypto world, but I think it's better safe than sorry. Especially when crypto world is full of malware, or there is more than enough stories when people lost lot of BTC just because they sent it to wrong address. Actually I also check everything multiple times when I make bank transfers.

LFC_Bitcoin

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I’ve had a number of scares when sending bitcoin from one address to another but it’s all been down to my paranoia not anything I’ve done wrong. Once I sent a large amount from one one QT wallet to another & just at the moment I sent my internet connection dropped. The coins being sent were deducted from my balance but not showing in my other wallet.

I got some advice & had to sendrawtransaction in the command centre. It worked but I nearly had a heart attack.

mazdafunsun

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Hah , I know what you mean.
But no, not any more.
I remember the first times I was very anxious, the main reason probably was that i did not know how things work back then,
Now i just recheck the address few times and dont worry.

Miklight88

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What is the need for you to see your btc in other wallet before you get crazy of believe you own it, btc is not scam and where ever you have it , its yrs only if in exchange and could be transfer base on the exchange having issue but definitely not as scam.

Nolimitz84

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Quote from: dothebeats on August 06, 2019, 04:55:43 PM

I usually do a double or triple take on the address that I have placed on the empty field just so I won't screw up and send the coins to the wrong destination. There are tons of malware out there in the open in which clipboard is being hijacked and the copied address changes into something that the creator of malware wishes us to send to. Next confirmation I would like to see is whether it's already out in the blockchain, broadcasted and just awaiting for confirmations. Once it's there, I just let it be and do my own thing knowing that it's already safe.

That's probably the best advice.Just try to double-check 3 or 4 times the correct address and that's it.When the amount of sending large then everyone starts to get nervous.But this can be avoided by trading on trusted exchanges and exchanging bitcoins at trusted exchangers.

fullhdpixel

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Quote from: HughCaires on August 06, 2019, 03:30:07 PM

Waiting for the mining process is always the absolute worst. Everytime I convince myself I've put the address in wrong and fucked myself... only to wait 30 minutes and find out its fine.

What do you guys do while you wait? Yoga? Help me.

That has never really bothered me because I am already use to this, except maybe that would be your first time of actually making such transaction, but for those that are already used to it, I think we all know that before any coin can drop in another wallet when you make transactions, it usually take time, 30 minutes is even still fine, I have seen cases where mine took even over 7 hours, I don’t know if anyone has experienced this too.

The only thing that mostly help me in waiting without thinking it is an issue is that I am always getting alert that there is a transaction that needs to be confirm, so I just wait for the confirmation period, so I don’t know if the period is for mining it or not, all my wait is for my token to drop wile I go about my general business.

Turk Ace

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When I trade larger amounts on the exchanges I start shaking I get so anxious. I check and recheck my address over and over and over again. Hell, I even call someone to come check if the two addresses match if I make really big exchanges. When it is all done and over I feel better when it is all in my wallet I feel safe again and don't shake anymore. It is a thrill and exhilarating. I also take deep breaths and sometimes get up for a walk to properly think out my trades before I make them. I like to prolong the time I take since most mistakes are made in a rush.

Theb

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Quote from: o_e_l_e_o on August 06, 2019, 05:23:13 PM

Quote from: shield132 on August 06, 2019, 05:07:48 PM

Because one wrong character or number in adress and your lovely bitcoins are gone forever

That's not true. Bitcoin addresses contain a built in checksum, so if you accidentally change a character or two, the checksum will not match up. You will almost certainly end up with an invalid address which your wallet will not accept. The chance of generating a valid but incorrect address from a typo is about 1 in 4.3 billion.

You can read more about it here: https://en.bitcoin.it/wiki/Address#What.27s_in_an_address

There is a chance that he might be talking about the copy/paste or clipboard virus here that has just infected a lot of crypto users recently. The way the virus' works is when you copy your own address it will replace it with a similar address which they control hoping that the user will send the cryptocurrency on the wrong address. So there is really nothing wrong on double checking your wallet address once or twice to see if its really the right one, I mean we are talking about our money here.

NOTE:
FOR Newbies check out how this virus works on your desktop so you get the idea on how they do it.

ghost424

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Transferring Cryptocurrencies are always scary due to the fact that it is intangible and people are not too sure on how the funds are being transferred. Some wallets show the details of the transfer and because of these wallets, we can be sure that our money is safe but if we are transferring it Blindly then that sure is scary. We should stay patient and ask the administrators if able if there is a transparent way to view the transfer of funds.

Ayiranorea

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I follow the same process that I did when I made the first bitcoin transaction years back. It was just 0.001btc. I came to know about it through my friend and he guided me to create a wallet and the further process of sending transactions. Suggested me to go with the fee that's been levied automatically. Even now I follow the same process and showed how it gets reflected on the network. Once after making the transaction I'll check with the network. Later automatically it used to get credited once confirmed. There is nothing to complicate as my funds transfered were small. While doing large volume transactions more pre checks is a must.

Kakmakr

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What I like to do is to send a small portion of the total amount first to see if it is successful and then once I have verified that it was successful, then I send the balance. I have heard horror stories, where people had Malware installed on their computers and where the Clipboard was hijacked and then when they want to Copy&Paste, it would paste the hackers address and not the address that was copied.

So apart form double checking the address that I pasted, I also check if the actual transactions was successful with a small amount first. I only do this when it is a large amount of coins, because doing this with smaller amounts will just add more tx fees to your final transactions. It might sound overkill, but I am a bit paranoid over things like this. Roll Eyes

jakelyson

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Quote from: HughCaires on August 06, 2019, 03:30:07 PM

Waiting for the mining process is always the absolute worst. Everytime I convince myself I've put the address in wrong and fucked myself... only to wait 30 minutes and find out its fine.

What do you guys do while you wait? Yoga? Help me.

Nothing. You will get used to the process.

And there is almost nothing you can do if you entered the wrong address. So I always triple check addresses and amount before I commit a transaction. You should do that as well.

acroman08

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at first, yes, but after I have done atleast several dozen of transactions before I know it the anxiety is gone.
Even though the anxiety is gone I always double check everything to make sure everything is okay on my end
and not end up sending it to another account.

adaseb

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I actually used to do this back in the day and depending on the amount I still might do it.

First I send a small amount, and wait for the transaction to arrive wherever it was sent. If it arrives successfuly then I simply resend to the exact same address as before. This way if there is some clipboard virus or if I make a mistake and copy a BCH address instead of a BTC address then the loss is small.

However lately I tend not to do this because of BTC transaction fees, I rather not waste $5 or so per transaction so I just double check my addresses multiple times. Back in the day sending transactions was almost free so you could easily send BTC back and forth and not worry.

Coyster

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It's really nothing to be scared of, though while sending coins i'm always vigilant or rather very careful, it's not like the chances of making mistakes are high, but just to eliminate totally a possible chance of it happening.

When you copy the address and paste, just make sure you check the address properly as there are scammers who use malwares to steal info from phone/laptop keyboards, so it's always good to be careful, not scared.

Topic: Does anyone else get crazy high anxiety when they transfer btc between wallets? (Read 438 times)