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Know which part is the trade
Identify custody and payment risks before exchanging BTC.
Buying another asset involves a service or counterparty. That is a different decision from making a Bitcoin payment.
- Choose a counterparty
- Check custody and withdrawal terms
- Review the payment
Ask who holds the keys
A custodial service controls funds on your behalf; a self-managed wallet puts key security on you. Do not mistake a service's displayed balance for direct control of an on-chain output.
Check before committing
Bitcoin payments are generally irreversible, and transaction history is public. Verify the service, recipient instructions, payment network and withdrawal conditions. A polished swap screen cannot remove counterparty or key-loss risk.
Spot the missing information
Consider an imaginary exchange advertising instant swaps.
- List who controls deposited funds.
- Ask which network a withdrawal uses.
- Mark unknown answers as reasons to pause.
An unanswered custody question is not solved by speed.
Understand the service before authorizing its payment.
Progress stays on this device.