Introduction
Sending cryptocurrencies between platforms (or from an exchange to a personal wallet and vice versa) is simpler than a traditional bank transfer. In most cases, you only need the recipient’s deposit address and the amount to send.
For the remaining 1% of cases, you might need to:
- Select the correct blockchain network (e.g., ERC20, TRC20).
- Provide a MEMO/tag (a unique identifier for certain cryptocurrencies like XRP or XLM).
Don’t worry—this guide covers step-by-step instructions, examples, and FAQs to ensure seamless transfers.
Step-by-Step Guide to Sending Cryptocurrencies
General Steps (Applies to Most Cryptocurrencies)
- Copy the deposit address from the receiving platform/wallet.
- Paste the address in the "Send" section of your source platform/wallet.
- Enter the amount and confirm the transaction.
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Special Cases
1. Cryptocurrencies Requiring a MEMO/Tag (e.g., XRP, XLM)
- Step 1: Copy both the deposit address and the MEMO/tag from the recipient’s platform.
- Step 2: Paste each in their designated fields during the transfer.
2. Selecting the Correct Network (e.g., USDT)
- Ensure the sending and receiving platforms support the same network (e.g., TRC20 for Tron).
- Mismatched networks = Lost funds.
Practical Examples
Example 1: Sending DigiByte (DGB) to Binance
- Copy Binance’s DGB deposit address (e.g.,
D6ocggxvfX8rqvfAW5NV2JPSY3zvxxjB4P). - In your source platform, select DGB → "Withdraw" → Paste the address → Confirm.
Example 2: Sending USDT via TRC20
- On Binance, select USDT-TRC20 and copy the deposit address.
- In the sending platform, choose TRC20 as the network → Paste the address → Send.
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FAQs
Q1: What happens if I send crypto to the wrong address?
A: Funds are irrecoverable. Always double-check the address before confirming.
Q2: Why do some cryptocurrencies need a MEMO/tag?
A: Exchanges like Coinbase use MEMOs to identify individual accounts in shared wallets (e.g., XRP).
Q3: How long do transfers take?
A: It depends on the network:
- Bitcoin (BTC): 10–60 minutes.
- Ethereum (ERC20): 1–5 minutes.
- TRC20: Seconds.
Q4: Are there transfer fees?
A: Yes. Fees vary by network (e.g., ERC20 fees are higher than TRC20).
Final Tips
- Test with a small amount first for first-time transfers.
- Verify network compatibility to avoid losing funds.
- Bookmark this guide for future reference!
Still unsure? Drop a comment below! 🚀
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