What should you check particularly carefully before sending bitcoin to another person?
Correct answer
Answer D: Whether the recipient's address and the amount are correct.
Quick explanation
Bitcoin transactions cannot simply be reversed. Checking the address and amount before confirming can help you avoid mistakes that could cause you to lose money.
Detailed explanation
An outgoing payment should be signed only after checking the recipient, on-chain or Lightning route, complete address or invoice, amount and fee. With a hardware wallet or external signer, the outputs and amounts actually shown on its independent display are authoritative.
For on-chain payments, check the fee rate as well as the total fee. Wallets may show priorities such as slow, normal or fast, or a confirmation target. These are estimates. The right choice depends on urgency, current mempool conditions, virtual transaction size and personal cost considerations.
An unusually high total fee should be questioned before approval. A very low rate can cause a long unconfirmed wait. Fees can be substantial relative to small payments. A provider's withdrawal fee is not automatically the actual Bitcoin network fee.
Lightning uses different fee and routing mechanisms; on-chain fee rules must not be transferred unchanged. Software can confirm an address's syntactic validity but not that it belongs to the intended recipient. If uncertain, stop before signing and check through a second trusted channel.
Example or everyday application
A wallet offers low, medium and high estimated fee rates for an on-chain payment. The user checks urgency, current network conditions, total fee, fee rate, recipient and amount. They choose deliberately without treating next-block confirmation as guaranteed.
Key takeaway
Before signing, check recipient, amount, total fee and fee rate.
Sources used
Securing your wallet
Check original sourceBitcoin Core - External signer and address display
This source is mainly intended for developers. The relevant information may therefore be harder to find.
Check original source

