Healthy practices to keep in mind while sending & receiving Crypto
Cryptocurrency sending and receiving is at the heart of the crypto-verse. While the majority of India is getting acquainted with UPI, sending and receiving crypto is still a very new issue for the general public, therefore sending and receiving crypto won't make much of an issue to the general public, as the process on Defy is fairly straightforward.
While we urge the people to try out the feature and start sending and receiving crypto to their friends, businesses, and other fellow wallet holders, there are some preventive measures are to be taken into consideration
- Make sure the correct wallet address is added, after a couple of re-checks. Ideally, you should double-check the address, as it is a long string of characters and the chances of a mistake are very likely.
- Never share your private key with anyone. Your public key is meant to be your receiver’s address, so if someone asks for your private key, there’s a great chance that the person is a scammer, trying to get hold of your wallet.
- Make sure you are sending your crypto to a known address and not some scammer, as you would lose your crypto if you do so, there would be no compensation.
- If you’re staking your crypto, make sure you go ahead with a well-known, verified validator.
- Make sure you’re sending the correct coin to the correct chain, as some coins don’t work on some chains.
- Most importantly, do your own research.
Send & Receive has unlimited potential and can be used across several chains, and with the low fee, users can do as much as they want to, but if they keep all these things in mind, the experience will be a great one.