Post
Topic
Board Beginners & Help
Re: Large Transfers - best practices?
by
Upgrade00
on 24/05/2021, 03:22:29 UTC
However, if the exchange made a mistake somehow, all the bitcoin would be lost forever.
Centralized exchanges are usually straightforward and errors at this stage usually comes from the user who is sending the funds and not the exchange, there are cases of users sending their cryptocurrencies to similar but different chains (such as litecoin to the Bitcoin chain).

Using DEXes ma be a bit more complicated as you're mostly responsible for your actions, but it can easily be navigated.
In both cases sending a small fund first as confirmation is advisable, you can also trade with that to know the fee structure of the exchange to avoid paying huge amounts on your transactions.