Can Bitcoin transactions be reversed?

Bitcoin transactions are irreversible once confirmed. Always double-check addresses!

Who receives the transaction fees?

Transaction fees are paid to miners as an incentive for processing transactions.

What affects transaction confirmation speed?

Higher transaction fees incentivize miners to prioritize your transaction, leading to faster confirmation.

Sending and Receiving Bitcoin

10 min readinteractiveIncludes quiz · 3 questions

The first real Bitcoin transaction was Laszlo Hanyecz paying 10,000 BTC for two pizzas on May 22, 2010. Those Bitcoin would be worth hundreds of millions today. But that transaction proved something more important than pizza — it proved Bitcoin works as a payment system.

Learn the practical steps of making your first Bitcoin transaction safely and efficiently.

Steps to Send Bitcoin:

1. Open your wallet 2. Click "Send" 3. Enter recipient's address 4. Enter amount 5. Review transaction fee 6. Confirm and send

Steps to Receive Bitcoin:

1. Open your wallet 2. Click "Receive" 3. Copy your address or show QR code 4. Share with sender 5. Wait for confirmation

Understanding Fees:

•Fees go to miners, not Bitcoin itself
•Higher fees = faster confirmation
•Fees vary based on network congestion
•You can choose fee priority

Key Takeaway

Always triple-check the address before sending. Always send a small test amount first for large transactions. Bitcoin transactions are irreversible — there is no "undo" button.

Test Your Knowledge

3 questions · Passing score: 80%

Enjoying these lessons?

Get a free Bitcoin lesson in your inbox every week. Join thousands of learners.

Free forever. No spam. Unsubscribe anytime.