Sending cryptocurrency from one platform to another can be confusing for new users. One common mistake beginners make is selecting the wrong network during transactions. Choosing the correct blockchain network is crucial to ensure your funds arrive safely.
Understanding Crypto Networks and Compatibility
Cryptocurrency tokens are only compatible with the blockchains they were created on. Each blockchain operates like its own "language," using native cryptocurrencies for transactions. While OKX automatically selects the right network for most cryptocurrencies, some require manual selection from multiple options.
Why Network Selection Matters
- Fund Safety: Selecting the wrong network may result in permanent loss of funds.
- Consistency Required: Deposit and withdrawal networks must match (e.g., USDT-ERC20 for both).
Step-by-Step Guide: Depositing USDT
Follow this example to ensure proper network selection for USDT transfers:
1. Select Your Deposit Network
- Open the OKX app and navigate to Assets.
- Under Overview, select Deposit > On-chain Deposit > USDT.
- Choose your preferred network (e.g., USDT-ERC20 or USDT-TRC20).
👉 Compare network fees and speeds
2. Compare Network Options
| Network | Speed | Fees | Best For |
|------------|-------|-------|------------------------|
| USDT-TRC20 | Fast | Low | Small transactions |
| USDT-ERC20 | Slow | High | Large transactions |
3. Complete the Deposit
- Copy your OKX deposit address.
- Paste it into the withdrawal field on the sending platform/wallet.
- Confirm all details (especially the network) before submitting.
Avoiding Common Mistakes
- Double-Check Networks: Mismatched networks cause irreversible losses.
- Small vs. Large Transfers: Optimize fees by choosing TRC20 for small amounts.
FAQ
What happens if I choose the wrong network?
Your funds may be lost permanently. Always verify the network matches on both platforms.
Can I change the network after sending?
No. Transactions are irreversible once confirmed on the blockchain.
Which network is cheapest for USDT?
USDT-TRC20 typically has the lowest fees.
👉 Learn more about secure crypto transfers
Key Takeaways
- Match deposit and withdrawal networks exactly.
- Prioritize USDT-TRC20 for cost-effective small transfers.
- Always verify addresses and networks before confirming.