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Deposit crypto from other Exchange or wallet

Transferring crypto from other exchanges like Binance to CoinByte is a quick process, but it's essential to carefully verify the deposit address and select the correct network before initiating the transfer.

⚠️Important notice: If you send crypto to CoinByte using incorrect details, we may not be able to recover the funds. If recovery is possible, it may involve significant fees.

Before sending or receiving crypto, it's important to understand how to choose the right network. Using the wrong network for your transfer will prevent your funds from arriving at the intended address and the funds will be lost.

We suggest reading our FAQ article, which explains how networks work and how to select the right one:
How do I select the correct network for my crypto withdrawals and deposits?]

How to deposit crypto from other exchange to CoinByte?​

Step 1: Get your CoinByte deposit address​

Select the correct network and copy the deposit address on CoinByte. Refer to Deposit Crypto to CoinByte.

Each asset on CoinByte has a unique deposit address, so you'll need to find the specific address for the asset you want to deposit.

Step 2: Withdraw from other exchange or wallet​

The operations may vary across different platforms, but the basic logic is as follows:

  1. Log in to other exchange or wallet platform.
  2. Select Withdraw.
  3. Select the cryptocurrency you want to send to CoinByte, then select Send.
  4. Paste the address you copied from Step 1, which should be your CoinByte deposit address for the crypto you want to send.
  5. Select the network you intend to send your crypto on. Please make sure the deposit network is consistent with the withdrawal network.
  6. Select Withdraw to proceed.
  7. You will be asked to confirm the transaction again. Review the transaction carefully before selecting Confirm to complete the action.
  8. You may be required to verify the transaction with your two-factor authentication app.

Memo codes or Destination Tags​

Transactions on some networks, such as Stellar (XLM), Cosmos (ATOM), and Ripple (XRP), will require additional information in the “Memo�?field.

In a similar way to when you pay your rent, for example, the bank will require an extra “reference code�?before sending funds, so the receiver is able to identify who the transaction is from.

A message like the one below will tell you if this is needed for your transaction. Always make sure to check on the receiving end if a Memo code is provided in order to receive the transaction. If you fail to do this you will tell you if this is needed for your transaction. Always make sure to check on the receiving end if a Memo code is provided in order to receive the transaction. If you fail to do this you will lose your funds.

How long do crypto deposits take?​

Crypto deposits may take up to 1 hour to appear in your CoinByte account.

The deposit's appearance in your account depends on:

  • The number of confirmations required.
  • The network used and the traffic at the time of the transfer.

Fees for crypto deposits​

  • CoinByte doesn’t charge any fee for crypto deposits.

💡Note: Although CoinByte doesn’t charge any fee for crypto deposits, there will be a network fee charged by the sending platform or wallet.
To know more about crypto network fees, please refer to FAQ: What is network fee?