transaction's limits

0

I'm new about this market and I don't know if there's some limits about the transactions on the copay wallet. I think to use this wallet for personal and business transactions. Someone can answer me if I can receive on the wallet several transactions and if there's some limits about btc I can receive? Tks

Raffaele B

Posted 2019-02-17T09:09:50.733

Reputation: 1

Answers

1

Coins are sent to addresses in a globally distributed ledger, not to wallets. The Bitcoin network does not “know” what wallet-software you are using to manage your addresses, and it cannot prevent people from sending coins to addresses that you own. So, the short answer to your question is “No limits.”

One thing that might delay a transaction would be if the payee set the transaction fee too low. Miners, being economically rational, tend to validate transaction sooner if the fees are higher. If the fee is too low, then the coins may get returned to the sender without ever being credited to the recipient. But this has nothing to do with the recipient's wallet-software, since fees are set by the sender.

user58807

Posted 2019-02-17T09:09:50.733

Reputation:

Note: unconfirmed transactions do not eventually have coins 'returned' to the sender; they never 'leave the sender's wallet' in the first place. This is a bit of a language nitpick but it is important to the understanding that an unconfirmed transaction could 'lose coins' or something like that. Coins exist as a UTXO, until they are spent by being included in a new block (thus consuming that UTXO as an input, and creating a new UTXO(s) from it).chytrik 2019-02-17T10:24:38.600

Thank you @chytrik; I agree. My attempt at simplification went too far! – None – 2019-02-17T13:31:47.340