Cryptocurrency Q&A
Can money be lost on blockchain?
Can money be lost on blockchain?
EthereumEagle
Wed Nov 27 2024
|
5 answers
1269
I'm concerned about the security of blockchain technology. Specifically, I want to know if there's a risk of losing money when using it. Can funds be lost on the blockchain, and if so, how does this happen?
5 answers
BenjaminMoore
Fri Nov 29 2024
Transactions conducted on these networks are designed to be irreversible.
Was this helpful?
175
52
Caterina
Fri Nov 29 2024
Blockchain.com is unable to assist in recovering lost funds.
Was this helpful?
224
74
CryptoVisionaryGuard
Fri Nov 29 2024
The decentralized nature of cryptocurrency networks, such as Bitcoin, poses a significant challenge in this regard.
Was this helpful?
172
99
SumoStrength
Thu Nov 28 2024
This means that once funds are sent, they cannot be retrieved or reversed.
Was this helpful?
321
95
Martina
Thu Nov 28 2024
This is akin to sending cash through the mail, where once it is dispatched, there is no way to retrieve it if it is lost or stolen.
Was this helpful?
377
69
