Advantages And Disadvantages Of Instant Transaction Of Crypto Coins

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Let's talk about the disadvantage of instant deposit and withdraw systems available in crypto wallets. All knows the advantages of the system but I've experienced the disadvantages too. Its 11 days now and I'm still can't forget the moment I fall into the trap of scammers.

Just few hours would be enough to realize that I'm into the trap if the payment would take time and ask for several approval before sending it to the scammers. Just one click and I've lost my $2000 and the money gone from my wallet instantly. So this is the demerit that before we understand the scam we lost everything.

The advantage of instant payment is very clear to everyone because we all want things instantly and crypto wallets wants to be more trustworthy and faster than the other crypto wallet services. Waiting for withdraw and deposit could be not preferable but after sending money we have no chance left to stop the process right there in next few hours.

In some blockchain platform there are some wallet available that allow specific time to empty the balance and that takes time and asset can be recovered if somehow hacked but condition is one and that require a recovery account that should be set to a trustworthy account. This is available in hive and steemit that pays hive and steem as crypto.

Metamask sent my asset instantly to the wallet of scammer and they couldn’t help me to get back my asset. So instant transaction were not good for me and I paid a big amount for a simple click. Even I appreciate instant transactions but when a transaction takes time we also can take time to think and can contact support immediately if the transaction is suspicious or to the scammer.

So I was thinking about such advantages and disadvantages of instant transactions of crypto wallets. We can't recover our asset if once it sent and scammers take this advantage. People who fall into the trap feel so helpless that their hard earned crypto coins eaten by thieves and no way to get back them.

So I wish all wallet may ask several requirement before sending and processing the crypto and inquiry about both sender and receiver and alert both party before sending it all. This way many can save their crypto from scammers. May someday the feature will come when crypto wallets will trace scammers before processing the crypto coins.

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