Fat Finger
19 hours agoFat finger or fat fingering a transaction refers to accidentally using incorrect transaction details when buying, selling, or transferring cryptocurrency.
There are various examples of fat fingering, including:
- Entering the wrong entry or exit price for a trade,
- Selecting long (buy) instead of short (sell) on a trading platform,
- Unknowingly adding or subtracting extra digits to the amount of currency you wish to buy or sell,
- Entering the incorrect wallet address when transferring funds between wallets.
This can happen for several reasons, such as a trader experiencing FOMO and rushing to catch a market move. However, the main cause of fat fingering is that the user is not paying close attention and submits the transaction without verifying that all the information is accurate.
Many cryptocurrency exchanges and trading applications now offer users the option to enable or disable an additional confirmation step before finalizing a buy, sell, or transfer order. While this may slow down the overall process, traders can benefit from the opportunity to review their trades and transfers before they are submitted.
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