Can You Reverse A Bitcoin Transaction? What You Need To Know

If you've sent some Bitcoin to the wrong address, you're out of luck — unless you can somehow find a way to track down the recipient and encourage them to return them.

But let's face it: That's about as likely as a Martian landing on Earth, waving a wand and turning everyone stone. It will never happen. Probably. Possibly. Definitely.

That's right — you can't reverse a Bitcoin transaction. Once the funds have been transferred, they're gone for good. Nobody can step in to save it. Not even President Trump. This is because Bitcoin is completely decentralized (it's not regulated). So if you send money to the wrong address or fall for a convincing scam, you're out of pocket. 

There is a chance if you sent to the exchange, but you will long have to prove that it is your coins and with a probability of 99% you will refuse to return them!

This is why it's of paramount importance you check all transaction details are correct before you hit send — whether you're paying for a service or transferring funds to a friend, send the intended recipient a screenshot of the transaction with their Public Key in view for them to confirm that the details are in fact correct to avoid disaster.