Bitcoin is a decentralized digital currency that was created by the pseudonym Satoshi Nakamoto (who no one knows who he/she is). It is built on a blockchain
network, which is a decentralized ledger with the records of all transactions made using Bitcoin.
Transactions made using Bitcoin are recorded in the blockchain. Once a transaction is confirmed and added to the blockchain, it cannot be altered or reversed. This way everyone has a copy of the transaction and no one can mess with it. Since it is decentralized it allows for fast, worldwide and inexpensive transfers of value, as well as a level of privacy and security.
This level of security comes with a trade off, if you send Bitcoin to a wrong address or to an address on another chain (eg. Ethereum chain) the funds will be permanently lost since there is no way to revert the transaction.
When you do a transfer of assets from one wallet to another you need to be sure that you are sending the assets in the same chain. Meaning that if you have a Bitcoin wallet you can only send the assets in the Bitcoin chain and not on the Ethereum network, or BNB chain.
If you are not sure how to process these transactions reach to our customer support: email@example.com and we will help you out. It is important to note that any transaction wrongfully made will result in total and permanent loss of the funds and Lympid team cannot revert it.