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How to Send Crypto Safely: Addresses, Networks and Test Transactions

By moonbag.info team · · Beginner

Blockchain transactions are generally irreversible. If you send crypto to the wrong address or the wrong network, there’s usually no bank to call and no “undo” button. The good news is that most mistakes are avoidable with a short checklist.

The four things to check every time

  1. The address
  2. The network
  3. Any memo or tag
  4. The amount and the fee

1. Checking the address

Crypto addresses are long strings like 0x7a3f...9c2B or bc1q...x8k. A single wrong character usually means an invalid address, but not always.

  • Copy and paste; never retype.
  • Check the first and last several characters match what you expect. Then check some in the middle too.
  • Use your wallet’s address book for addresses you send to often.
  • Verify on a hardware wallet’s screen when receiving, so malware can’t swap the address. See How to Set Up a Hardware Wallet.

Watch for clipboard malware

Some malware replaces addresses in your clipboard with an attacker’s address. That’s why checking the pasted address against the original is so important.

Watch for address poisoning

Scammers send tiny or zero-value transactions to your wallet from addresses that look almost identical to ones you’ve used, matching the first and last few characters. They hope you’ll copy the fake address from your transaction history next time. To avoid this:

  • Don’t copy addresses from your transaction history.
  • Use a saved address book or get the address fresh from the recipient.
  • Compare more than just the first and last few characters.

2. Choosing the right network

The same token, such as a stablecoin, can exist on several blockchains. When you withdraw from an exchange, you usually choose a network. The receiving wallet or exchange must support that exact network for that token.

If you send on a network the recipient doesn’t support, funds may be lost or require a complex, costly recovery, if recovery is possible at all.

Before sending:

  1. Check which network the receiving address is on. Exchanges list supported networks on their deposit page.
  2. Select the same network on the sending side.
  3. If unsure, ask the recipient or check the platform’s help pages, never a random “support” account that messages you.

Moving tokens between networks is a different action that uses a bridge. See How Crypto Bridges Work.

3. Memos, tags and destination IDs

Some networks and exchanges use an extra field, often called a memo, tag or destination tag, to credit deposits to the right account at a shared exchange address. If the deposit page shows one, you must include it. Leaving it out can mean the exchange receives funds but can’t tell they’re yours, which may lead to a slow support process.

4. Amount and fee

  • Check decimal places. 0.5 and 5 look similar at a glance.
  • Understand the fee. Network fees, called gas fees on many chains, change with demand. See Understanding Gas Fees.
  • Keep some of the network’s native token for fees. On many networks you need it to send any other token.
  • Exchange withdrawal fees can differ from network fees, and some have minimum withdrawal amounts.

Always send a test transaction first

For any new address, or any amount you’d hate to lose:

  1. Send a small amount.
  2. Wait until the recipient confirms they’ve received it, or you see it arrive in your own wallet.
  3. Then send the rest, using the same address and network.

The test costs an extra fee. It’s worth it.

Step-by-step: withdrawing from an exchange to your wallet

  1. In your wallet, choose the token and network, and copy your receiving address. On a hardware wallet, verify it on the device.
  2. On the exchange, choose Withdraw, select the same token and network.
  3. Paste the address. Check the first, middle and last characters.
  4. Add a memo or tag only if the receiving side requires one. Most self-custody wallets don’t.
  5. Enter a small test amount and confirm, including any 2FA step.
  6. Wait for the deposit to show in your wallet.
  7. Repeat with the full amount.
  8. Record the transfer details for your cost basis records. Moving between your own wallets is generally not a taxable event in the US, but you’ll want a record linking the two.

Tracking a transaction

Every transaction has a hash (an ID). Paste it into a block explorer for that network to see whether it’s pending, confirmed or failed. If something seems stuck, the explorer is the first place to check.

Red flags

  • Someone asks you to send crypto to “verify” your wallet or “unlock” a withdrawal.
  • A “support agent” reaches out first and gives you an address.
  • A QR code from an unknown source.
  • Pressure to send quickly.

These are classic scams. See How to Spot Crypto Scams.

Common mistakes

  • Wrong network for the token or the recipient.
  • Missing memo or tag for an exchange deposit.
  • Copying from transaction history and falling for address poisoning.
  • No native token left for fees.
  • Skipping the test transaction for a big transfer.
  • Sending to a token’s contract address instead of a wallet address.

Key takeaways

  • Check address, network, memo and amount every time.
  • Copy and paste, and verify more than just the first and last characters.
  • Send a small test to any new address.
  • Transactions generally can’t be reversed, so slow down.