How deposits work, and how to choose the right network

Depositing crypto looks simple: copy an address, send the funds, wait. The step that trips people up is the network. Many tokens exist on more than one blockchain, and a deposit only arrives safely when the sending side and the receiving side use the same one.

Why one token can live on several networks

Stablecoins such as USDT are issued on several blockchains, for example Tron (TRC20), Ethereum (ERC20) and BNB Smart Chain (BEP20). Each version represents the same asset, but lives on its own chain with its own address format, network fees and confirmation times. Some assets, such as ETH, can also move on scaling networks like Arbitrum.

On the deposit page you choose the asset first and then the network. The address you see belongs to that exact combination.

Step by step

1. 1Choose the asset you want to deposit.
2. 2Pick the network. Check which networks your sending wallet or platform supports, and choose one that appears on both sides.
3. 3Copy the deposit address or scan the QR code. If a memo or tag is shown, include it too.
4. 4On the sending side, select the same network, paste the address and confirm.
5. 5Wait for the required block confirmations. The deposit shows as pending and is credited once it is confirmed.

Confirmations and timing

A blockchain transaction is treated as final once it has been included in a block and further blocks have been added on top of it. Networks produce blocks at different speeds, so waiting times vary. Congestion can add delay, and the fee chosen on the sending side can affect how quickly the transaction is picked up.

Choosing between networks

When more than one network is supported on both ends, people usually weigh up three things:

• The network fee charged to send the transaction.
• How long confirmations typically take.
• What the sending wallet actually supports. The cheapest option is no use if your wallet cannot send on it.

Before you send a large amount

• Send a small test deposit to confirm the address and network behave as expected.
• Make sure the amount is above any minimum shown on the deposit page.
• Keep the transaction hash from your sending wallet. It is the fastest way for support to trace a deposit.

Withdrawals are the mirror image

Withdrawing follows the same logic in reverse. Choose a network the destination supports, paste the address carefully, and check the withdrawal fee and minimum for that asset before confirming. Withdrawal requests may also go through a security review before they are sent, so allow a little time.