So, if you’re the category of persons that wish to know if their transaction can be cancelled or reversed in their blockchain wallets, then this post is for you and your friends. Read it with a keen attention and comply with all instructions.
Blockchain Wallet: Can my transaction be cancelled or reversed? So many persons wish to know if they can cancel the initial transactions they’ve made on blockchain via their wallets.
To proffer solution to this, we decided to do a little or a mini-research on this subject. In the course of that research, we came up with this answer which what triggered this post.
No, Blockchain team are unable to cancel or reverse your bitcoin transaction. Even many advanced bitcoin users can recall an incident when they failed to double-check their transaction details and they accidentally sent bitcoin to the wrong recipient or sent the wrong amount.
As unfortunate as it is, transactions on the Bitcoin network are designed to be irreversible and we have no control over them. Knowing this, it’s extremely important to make sure your transaction details are correct before you click send.
To learn more about why bitcoin transactions can’t be cancelled and how this aspect of bitcoin compares to other methods of payment like credit cards and cash, check out a blockchain team blog post on Bitcoin Transactions & Chargebacks.