Quote from: Nwada001 on June 28, 2025, 06:00:13 PM

I treat crypto transactions differently compared to how I treat banking transactions. I know when I go into business with someone, they might just have a specific bank account which could either be attached to their name or that of their business name, which I can easily send them money in case of an emergency without even reconfirming the account. No matter what, they can always get access to the account; that's what makes banks centralised.

But in terms of crypto, even if I am to send payment to the person more than once in a week, as long as they don't state that this is a permanent address, I will always ask for permission before I send because any loss incurred by such a mistake can easily be on my head.

That was the problem, the person who sent the coin treated the transaction like a bank transaction. Normally, you could send money through someone's bank account, and the funds can be withdrawn even if the account is dormant or restricted. In some cases, it could be recovered if it was sent to the wrong account since every account holder is known by the bank.

In crypto transactions , such privileges do not exist. A single mistake could make you lose money. Crypto transactions are pseudonymous and in some cases anonymous if privacy tools are used. So there is a need to always cross-check and confirm an address before sending coins.