Can Bitcoin and other cryptocurrency transactions be reversed or cancelled?

No, Bitcoin and other cryptocurrency transactions are designed to be irreversible. Consequently, it is not possible to reverse or cancel cryptocurrency transactions. Unfortunately, Bitpanda is unable to refund these either.

For example, this means that if you send a cryptocurrency to an incorrect address, the transaction cannot be reversed or cancelled. The person who controls the address your cryptocurrency has been sent to is the only person who has access to the cryptocurrency and who can send it back. If the person cannot be found or refuses to return the cryptocurrency, there is no way to get it back.

Therefore, we ask you to be very cautious when completing transactions on the blockchain and to always double-check that all the required data for the transaction is provided correctly and in full.

Please check out the following Helpdesk articles for further information: