Certified Bitcoin Professional Practice Exam

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Prepare for the Certified Bitcoin Professional Exam with our comprehensive quiz. Use flashcards and multiple choice questions, complete with hints and explanations. Get ready to excel!

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If you mistype a single character in a Bitcoin address when sending Bitcoin, what will happen?

The transaction will be canceled
The coins will be sent to the mistyped address
An error message will be generated
The transaction will take longer to process

The correct answer is: The coins will be sent to the mistyped address

When you mistype a single character in a Bitcoin address when sending Bitcoin, the coins will be sent to the mistyped address. Bitcoin addresses are typically represented as a string of alphanumeric characters, and they have a checksum feature that helps to validate whether an address is correctly formatted. However, if the checksum still passes after the mistyping, the transaction will proceed to the address that was entered, even if it's incorrect. This means the transaction will not be canceled, nor will you receive an error message, which can lead to the loss of funds if the mistyped address is valid but not controlled by you. In contrast, the other choices imply interactions that don't occur in this situation. A cancellation or an error message would prevent the transaction from going through, which isn't the case here. Additionally, the speed of processing is not influenced by a typographical error in the address. Therefore, sending Bitcoin to a mistyped address is a significant risk because if the address is valid, you cannot retrieve the sent funds.