Taking part in your initial successful transactions couldn’t be more satisfying. Providing you understand the exchange rate and the platform you’re using, it also couldn’t be easier.
We covered many tips and tricks on how to ensure a successful transaction in the Beginners’ section of Safety and Security, so you should by now feel confident in making them when you need to.
One of the most important factors in this process is ensuring you’ve correctly sent out your public key, as opposed to your private key, to whomever is sending coins to you. If you’re purchasing coins from an exchange, keep in mind the exchange rate which could be relatively expensive can potentially wipe out your profit margins!
Failed transactions usually occur on a micro basis, where the user doesn’t have enough funds to cover the associated fees for doing so. In this case, you could find yourself unable to do anything with your coins and wondering how to retrieve them.
It is possible to move coins from your exchange account to a blockchain.info wallet, which should negate this effect and allowing you to freely transact your coins with whomever you wish.
One of the most common failed transactions happen when users type the wrong public key into the client when sending cryptocurrencies. If you accidentally miss out a number, it is unlikely the client will allow you to make the transaction, however, if you accidentally mistype a number and send it to a valid, but incorrect, key - it could well be impossible to retrieve your coins.