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Sending Crypto on Different Networks with Easy Crypto
Learn how to use different networks when buying and selling crypto
Written by Easy Crypto
Table of contents
Understanding Blockchain Networks:
In the world of cryptocurrency, transactions happen on digital highways called blockchains. Different blockchains have varying characteristics, like transaction fees and processing speeds. When sending or receiving crypto, it's crucial to use compatible networks to ensure a smooth journey for your digital assets.
Benefits of Using Different Networks:
Lower fees: Some networks offer significantly lower fees compared to others.
Faster transaction times: Certain networks process transactions quicker than others.
🚨 This is an advanced feature 🚨
Mistakes in network compatibility can result in the loss of funds which Easy Crypto does not accept responsibility for.
Network Compatibility is Key:
Imagine sending a plane (Bitcoin transaction) to a specific airport (Bitcoin address). It wouldn't work if you tried landing it on a train station (incompatible network). The same principle applies to crypto: the sending and receiving addresses must be on the same network for a successful transaction.
Supported Networks on Easy Crypto:
Easy Crypto currently supports a variety of blockchain networks for buys.
BEP2 (Binance Smart Chain)
TRC20 (Tron Network)
ERC20 (Ethereum Network)
AVAX X-Chain (Avalanche Network)
MATIC (Polygon Network)
FTM (Fantom Network)
SOL (Solana Network)
Arbitrum (Arbitrum Network)
Optimism (Optimism Network)
💡To use a different network to send or receive crypto, make sure that the address you are sending from and to are on the same network so the transaction can work.
🚨 Don't try to land a plane on a cycle path!
🚨Important Reminders 🚨
Easy Crypto does not support cross-chain transactions.
This means you cannot directly send crypto from one blockchain (e.g., Ethereum) to another (e.g., Bitcoin) through our platform.Sending crypto on the wrong network can result in permanent loss.
Always double-check the network compatibility before sending any funds. Start with a small test transaction to ensure everything works as expected.
Buying
Head to Wallet -> Select Crypto -> Check network
Please note this is an example taken from Trust Wallet, we do not support all these networks.
Head to My account -> Options -> Enable all delivery/withdrawal networks and turn it on.
Only YOU know the wallet you are using so you must be clear on giving these instructions.
If you are happy to proceed and understand the potential risks, click the button to confirm and then click Enable.
Check your wallet and make sure they are on the same network.
Only YOU know the wallet you are using so you must be clear on giving these instructions.
Once you have entered your address, click Next Step.
DONE!!!
Great work on levelling up in your crypto skills to save on those network fees!
It is always best to send a small test transaction when starting to use different networks. Please check and double check the addresses are on the same network.
If you need any help with this process, please contact the helpdesk.
Disclaimer: If you do not understand exactly what this means, we recommend that you do not turn on this feature. If you use the incorrect network, it is not Easy Cryptos' responsibility, and your funds may be irretrievably lost
Selling
Head to Wallet -> Select crypto -> check network
Please note this is an example taken from Exodus wallet for Tether USDT on the ETH Network.
Select the coin you're after and click Sell now.
Only YOU know where you are sending the crypto from, so you must be clear on these instructions. Also check if a memo, destination tag or note is required.
Some popular cryptos like Tether, we can process buys and sells on multiple networks while other cryptos like MATIC we can process buys on multiple networks but only process sells on the default network.
Remember to check the network fee which may change the amount you send, if it is different, then send us the TXID so we can find it.
If crypto is sent on the wrong network or without a memo, destination tag or note when needed, it never arrives at the destination.
Sometimes recoveries can be attempted, but the fees are between $100-$1000 NZD and they are long and painful for everyone, so follow the instructions and let's all avoid the pain!
It is always a good idea to send a small test order when doing something for the first time to avoid big mistakes.
Using different networks with Easy Crypto allows you to explore options for potentially lower fees and faster transaction times. Remember to prioritise network compatibility and start with small test transactions to ensure everything runs smoothly. If you have any questions, feel free to contact Easy Crypto support.
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