Now it's possible to retrieve a bitcoin payment, with a click of a button!

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Avatar for alberdioni8406
4 years ago

Something that in Crypto space have is people losing assets due to human error, a different letter or number in a Bitcoin address and your money is gone! A recent research for a company in survey noted that 55% have experienced some stress when trying to make a crypto transaction with 18% responding that due to error lost some funds sending money to a unknown wallet address.

"Imagine that happening to you!"

A two year blockchain startup based in Israel may solve that problem, and with their solution it's possible to a user "retrieve a Bitcoin payment". They claim that invented a button to cancel a Bitcoin payment if sent to a wrong wallet address.

yes, error payment just cancel it!

The firm dubbed Kirobo, with this " undo" button may give the sender a unique way to have their Bitcoin back to wallet, and this error could happen to anyone pro or newbie in Crypto transactions, we are humans and humans make mistakes and accordingly to the firm it will cost zero fees for transactions up to $1000 it's now integrated in Ledger nano Crypto wallet for Bitcoin!

So how this "miracle" button works?!

Actually is pretty easy solution brought by kirobo:

  • The retrievable button invented by Kiyobo gives the sender a unique code and the receiver have to introduce to match password with the sender and confirm the transaction

  • The interesting here is that, the sender can cancel the transaction anytime, the code only have the function to confirm if the transaction end or not, the company never store any private keys of the customer and have no participation on transactions only the sender and receiver have to can match the codes.

match the code and confirm the transaction, fail it and retrieve it back to wallet.

The Israel authority support the project, and will be much helpful to combat human error when making Crypto transactions, the lack to be noted is the beginning of this invention on hardware wallets being expensive ones and not afforded by anyone may not get widely spreaded and mistakes on crypto transactions could still be happen. But now popular wallets in near future may have the button implanted to cancel the crypto transaction.

This is one more way to protect humans to lose Crypto asset sending to wrong wallets.

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4 years ago

Comments

You can also try free wallet you can cancel transactions at any time

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4 years ago

That service is not like free wallet service, the sender have a pin code that will need to match with the receiver one, the receipt must introduce it in order to receive the transaction if not the owner can still have it back, the freewallet service (I had it but due to absurd taxes i am not using it anymore) you don't have that option and if the transaction got sent and with one confirmation you can retrieve it back its gone neither you fail or not๐Ÿ™Œ Good Sunday!

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4 years ago

Wow really? This is very helpful article it gives me information how to retrieve my bitcoin payment back to my wallet. Thankyou so much for this.

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4 years ago

It's my pleasure @Sarahmay if this got viral in popular wallets will be very helpful.

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4 years ago

I see โค๏ธ

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4 years ago

Wonderful day to you ๐Ÿ™‹

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4 years ago

Same to you as well ๐Ÿ˜‡๐Ÿ˜‰

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4 years ago

Well, I'm a bit worried. What if people use this way to deceive others? Everyone knows that transactions are irreversable. But this improvement may cause problems in trust ๐Ÿ˜‘

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4 years ago

I don't believe that problem will be an issue, the provides kirobo won't hold any of your keys the sense code is for protection in case he sent it to wrong address that feature will be built in if he spot that gone to wrong way will have to confirm it inserting his code at same time the receiver will have to match the same one, he would receive a notification just to confirm it if not (due to not being able to confirm) the value got back to the sender, of course when it widely used will be more easier to see their advantages or not but I believe the startup have everything controlled๐Ÿ™Œ. Happy Sunday!

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4 years ago

It might be a suitable option, but you need to check twice before sending the transaction.

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4 years ago

Yes, it's needed some attention to not fail when sending money via Bitcoin the security to avoid human error is more practical to check twice before sending!

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4 years ago