Due to the nature of blockchain, one token can exist in different blockchain networks. For example, USDT is issued in multiple networks such as Ethereum, TRON, and EOS blockchain. To successfully deposit tokens, you need to select the corresponding network to deposit. To provide a better deposit experience, KuCoin has supported a vast majority of mainstream public chains.
This article will help you understand the major tokens' multi-network.
Contents
1. Introduction to USDT Multi-Network
2. Introduction to BTC Multi-Network
3. Introduction to Common Mainnet
1. Introduction to USDT Multi-Network:
KuCoin users are able to deposit and withdraw USDT in multiple forms, such asUSDT-TRON, USDT-ERC20, USDT-KRC20, USDT-EOS, USDT-Algorand, USDT-KCC and more.
(1) USDT-ERC20 is the USDT issued by Tether based on the Ethereum network. Its deposit address is the ETH address, with deposits and withdrawals taking place on the ETH network. The USDT-ERC20 complies with the ERC20 standard.
(2) USDT-TRON (TRC20) is the USDT issued by Tether based on the TRON network. The currency deposit address is the TRON blockchain address, with deposits and withdrawals taking place on the TRON network. The USDT-TRON is based on the TRC20 protocol.
(3) USDT-EOS is the USDT issued by Tether based on the EOS network. The currency deposit address is the EOS address, with deposits and withdrawals taking place on the EOS network. The USDT-EOS uses the EOS protocol.
(4) USDT-Algorand is the USDT based on the ALGO network. The currency deposit address is the address of the Algorand blockchain, with deposits and withdrawals taking place on the Algorand network.
To ensure that users can freely choose their favored forms of USDT to deposit and withdraw at any time, KuCoin will exchange multiple forms of USDT in advance to ensure an adequate balance of these forms of USDT. If you do not agree to the exchange, please do not deposit or withdraw USDT.
2. Introduction to BTC Multi-Network:
KuCoin has already supported the BTC deposit addresses of 3 chains, the BTC chain, the TRON Chain, and the KCC:
(1) BTC Chain: KuCoin supports BTC-Segwit from(starts with "bc") and BTC form（ starts with "3"）deposit addresses, and the withdrawal function supports withdrawals in three formats.
- BTC-SegWit: The address starts with "bc". One of the main features of this format is that it is case-insensitive (the address only contains 0-9, az), so it can effectively avoid confusion and make it easier to read.
- BTC: The address starts with "3", it supports more complex functions than the Legacy address, in order to be compatible with the old version.
- Legacy: The address starts with "1", which is the original address format of Bitcoin and is still in use today. KuCoin does not support this format of the deposit address.
(2) TRON Chain: The address starts with "T". The deposit and withdrawal of this address only support the TRC20 chain and can't withdraw to the address of other chains.
(3) KCC: The address starts with "0x". The deposit and withdrawal of this address only support the KCC network and can't withdraw to the address of other chains.
3. Introduction to Common Mainnet:
- KCC is a high-performance and decentralized public chain built by KCS’ and KuCoin’s fan communities.
- ERC20 refers to the Ethereum network.
- TRC20 refers to the TRON network.
- BTC refers to the Bitcoin network.
- EOS refers to the EOS network
- BEP2 refers to the Binance Chain.
- BEP20 refers to the Binance Smart Chain (BSC).
Note: After an ERC20 token completes the upgrade, its contract address will be updated, and you can judge the token you hold from the contract address is a token with the new contract address or with the old contract address. In order to avoid your loss, it is recommended that you contact the withdrawal party to confirm the contract address of the token you hold, and please do not deposit the token with the contract address that we do not support. In addition, for some tokens, we now only support it as ERC20 chain, please do not deposit mainnet token to your ERC20 token's deposit address.
We hope this article has been helpful. Please reach out to our 24/7 customer support via online chat or submit a ticket if you have any other questions.
Happy trading on KuCoin!
FAQs
In blockchain and cryptocurrency, on-chain means an action that is recorded and verified only by the main chain. Off-chain means an action that is recorded and verified by another chain or application and sent to the main chain to be officially recorded.
What chain to deposit USDT? ›
Tether (USDT) is the most widely used and liquid stablecoin in the crypto market. As of 2023, Tether supports 15 different blockchains natively, including Ethereum, Tron, and Solana. Tether can be deposited, transferred, and swapped on the BNB Smart Chain (BSC) as well.
What is the deposit network for USDT? ›
(1) USDT-ERC20 is the USDT issued by Tether based on the Ethereum network. Its deposit address is the ETH address, with deposits and withdrawals taking place on the ETH network. The USDT-ERC20 complies with the ERC20 standard.
Can I deposit directly into KuCoin? ›
We now support direct deposits into your Funding Account, Trading Account, and sub-accounts. To learn more about the different account types and their functions, click here. For the KuCoin deposits page with your deposit addresses, click here.
What is an example of an on-chain wallet? ›
On-chain wallets store cryptocurrencies directly on the blockchain, allowing you to interact with the network and perform transactions. They are typically more secure but require network fees for transactions. Examples include Bitcoin and Ethereum wallets.
Which wallet is a non-custodial wallet? ›
Some examples of best Non-custodial wallet 2021 are: Electrum, Exodus, Ledger Nano X, Trezor One, Zengo, Wasabi, among others. While the aforementioned 'Custodial vs. Non-Custodial wallets' comparative factors will help you in picking the right Blockchain wallet, we highly recommend Non-Custodial Wallets.
What is the cheapest chain to deposit USDT? ›
TRC-20 and BEP-20 are currently the cheapest protocols for USDT transfers due to the low network fees. Nevertheless, always take into account exchange fees and market conditions, in general.
What are all the USDT chains? ›
Once a tether (a single unit of USDT) has been issued, it can be used the same as any other currency or token on the chain that it has been issued on. Tether currently supports the Bitcoin, Ethereum, EOS, Tron, Algorand, and OMG Network blockchains.
What is the best chain to use for USDT? ›
Tron is an open source blockchain that is widely used by merchants to accept USDT. Tron is the epitome of speed, capable of processing 2000 transactions per second. The Tron network is powered by a Proof of Stake consensus, which is the secret to its unparalleled efficiency.
Which network is best for USDT transfer? ›
Sending USDT on the TRON network is the cheapest way. For the entire TRON network, the fees may vary, but the maximum amount for one transaction costs 1 dollar.
USDT is a cryptocurrency issued by Tether, that is compatible with the Ethereum/ERC20 and Tron/TRC20 networks.
How do I deposit money into USDT? ›
To deposit USDT, please follow the steps below:
- Log in to XREX and go to Wallet.
- Click Deposit and select USDT.
- Click Blockchain deposit.
- Select the Network you wish to use. (ERC20 or TRC20)
- You can choose to copy the address or scan the QR code to deposit USDT into your XREX wallet.
Make sure that the name on your bank account is the same as the name on your KuCoin account. If a transfer (deposit) is made from a bank account that is not in your name, we will return the transferred funds to the bank account from which the transfer initiated.
What is the minimum deposit for KuCoin? ›
Are there deposit limits on KuCoin? The deposit amount must be between $5 and $5,000 USD per trade.
Does KuCoin allow bank transfers? ›
USDC Deposit/Withdraw via Bank Transfer Are Now Supported on KuCoin. Dear KuCoin Users, We are excited to announce that KuCoin now supports USDC deposit and withdrawal via bank transfer (Wire transfer) starting at 08:30 on 07/07, 2023(UTC).
What happens to the deposit in a chain? ›
If you are in a chain of transactions, there is sometimes confusion as to where your deposit comes from on exchange. To answer this, the exchange deposit comes up from the bottom of the chain, where the buyer has the deposit available in their bank account.
What is the difference between on-chain and off-chain? ›
On-chain transactions are directly recorded and verified on the main blockchain, ensuring transparency and security, but potentially slower and costlier. Off-chain transactions utilise secondary networks for quicker and more cost-efficient transfers, though they may compromise on security and complexity.
What is the meaning of on-chain? ›
On-Chain definition: Activities or transactions that occur on a blockchain and have been verified and recorded to the blockchain by miners or validators. On-chain refers to activities, data, or transactions that occur directly within a blockchain network.
What is an on-chain fund? ›
On-chain Funds take the concept of blockchain's decentralized nature to its logical conclusion by executing the entire investment lifecycle on the blockchain.
