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Can You Reverse A Bitcoin Transaction? What You Need To Know

If you've sent some Bitcoin to the wrong address, you're out of luck — unless you can somehow find a way to track down the recipient and encourage them to return them. But let's face it: That's about as likely as a Martian landing on Earth, waving a wand and turning everyone stone. It will never happen. Probably. Possibly. Definitely.

That's right — you can't reverse a Bitcoin transaction. Once the funds have been transferred, they're gone for good. Nobody can step in to save it. Not even President Trump. This is because Bitcoin is completely decentralized (it's not regulated). So if you send money to the wrong address or fall for a convincing scam, you're out of pocket. 

This article is an installment in our brand new Bitcoin 101 series — a set of articles dedicated to answering all of your most basic Bitcoin-related questions and queries, including where to spend Bitcoin, how to mine Bitcoin, how to spend Bitcoin using a Visa debit card, and the safest and easiest way to convert Bitcoin to USD