Can I reverse or cancel a wrapped bitcoin deposit?
Asked 3 years ago
I accidentally sent wrapped ethereum to my Crypto.com wallet under a wrapped bitcoin deposit. What should I do?
Rex Carter
Wednesday, March 23, 2022
If the wallet address where you sent your wrapped BTC to is an ERC20 address, then you should contract Crypto.com support as it may be possible to get it back as is the case in wallets like MetaMask.
Please note that crypto transactions are irreversible and it is never advisable to complete a transaction just out of the excitement of doing so. We are humans, and we make mistakes, but that is part of the reason why we need to be careful. The manipulative nature of reversible transactions which allowed users to order items, receive the items, and still request chargebacks through a third party is still an argument in favor of Bitcoin and cryptocurrency's irreversibility.
Imagine buying a pair of sunglasses for $50 at the market in a country you visited outside your continent. After collecting the glasses you pay $100 without relizing on the spot because the trader held out $50 which she was paid by another client and you thought that was the amount you paid because you had $100 and $50 bills in your wallet. You did not check again until you travel to your country, and the trader did not realize either. In that case, you have lost $50 and you will never get it back again.
The same scenario occurs when you send Bitcoin or any other crypto currency to an address on a different blockchain. Some wallets like Binance are able to identify that your wallet address matches to the blockchain where you intend to send funds to. If they don't, then your money is unfortunately gone forever.
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