With bitcoin, it’s easy to make a stupid mistake and instantly lose a lot of money.
With Bitcoin Cash and bitcoin, there’s a new way to lose access to your money. Today, we’re explaining everything you need to know about sending Bitcoin Cash to a BTC wallet – and whether or not you can get it back.
Sending Bitcoin Cash (BCH) To A Bitcoin (BTC) Wallet
You can find hundreds of reports online of people accidentally sending Bitcoin Cash to a BTC wallet.
Typically, this issue involves users sending funds to a hardware wallet. They send Bitcoin Cash to that wallet, but use a BTC receive address.
Trezor has sent users multiple warnings about the problems of sending BCH to BTC addresses. However, this issue still appears on the internet almost every day – and even experienced bitcoin users have run into the problem.
Aside from hardware wallets, people have transferred BCH to BTC over digital wallets and encountered a similar problem.
And no, this isn’t just newbies who are encountering this problem. Bitsonline editor Jon Southurst encountered this problem when sending BCH to an acquaintance. That acquaintance was using the Bitcoin.com mobile wallet app, which toggles between BCH and BTC wallets. However, the acquaintance didn’t realize he was on the BTC screen at the moment, and accidentally created a receive address for BTC instead of BCH.
“Yes, I gave my Bitcoin (BTC) receiving address instead of Bitcoin Cash to Jon by mistake,” Jon’s acquaintance told Bitsonline. “So, I now have to figure out how to retrieve my [BCC] in my Bitcoin.com wallet.”
So what does it mean when you send Bitcoin Cash to a BTC address? Let’s take a closer look.
The Receiver Has Total Control Over Your Private Keys
When you send Bitcoin Cash to a bitcoin receiving address, it means the receiver has total control of your private keys.
If this is a friend or a trustworthy exchange, then you may find that the receiver is helpful in retrieving your coins. However, others won’t be. it may be against their policy, for example. Or, they may just enjoy receiving free accidental Bitcoin Cash.
Just like with bitcoin, whoever controls the private key to the address you sent your coins to can do anything with your funds. All they need to do is important the private keys to that address into a software that supports Bitcoin Cash. Then, they’ll have full control over your funds.
Bitcoin Cash To BTC Conclusion
Ultimately, that leads to a simple conclusion: if you send your BCC to a BTC address outside of your control, then all you can do is hope the recipient is trustworthy. If so, then your private keys are still intact, and you should be able to recover your funds. If not, then you could be out of luck – and out of money.