You can choose the right coin, analyze the right buying point – but if you select the wrong network when depositing, you will lose that amount of money. No joke. This is a mistake many newcomers have made, and there isn't always a way to get it back.
☘️ One Coin – Many “Routes”. A Wrong Route Means Not Arriving.
Do you think USDT only has one type? In fact, it runs on multiple different networks. Some popular networks include:
• ERC20 – runs on Ethereum: high fees, but reputable.
• BEP20 – belongs to BNB Chain: low fees, popular on Binance.
• TRC20 – TRON network: super low fees, fast transactions.
• There are also Arbitrum and Polygon, for those who want to optimize.
The problem is: if you withdraw USDT from a TRC20 wallet but mistakenly select the ERC20 network when depositing into the exchange, then:
• Blockchain could not find the transaction.
• Coin does not reach the wallet.
• And it is almost impossible to get back.
☘️ How to Deposit Coins Correctly – Simple but Must Be Careful
1. Open the Binance app → select “Wallet” → “Deposit” → choose the type of coin you want to deposit (for example: USDT).
2. Important: select the correct network based on where you are withdrawing the coin from.
For example: if you transfer from a Metamask wallet on the BNB Chain → select the BEP20 network. Binance will display the corresponding QR code and wallet address.
Note: The wallet addresses on BEP20 and ERC20 may be the same, but if the wrong network is selected, the system cannot process it. A single mistake can result in lost coins or require support, which is very troublesome.
☘️ When Withdrawing Coins – Also Check Carefully
1. Binance App → “Wallet” → “Withdraw” → select the coin you want to withdraw.
2. Paste the recipient's wallet address.
3. Select the correct network according to the destination wallet.
For example:
• Withdraw to Trust Wallet using BNB Chain → select BEP20.
• Withdraw to the Metamask wallet on the Arbitrum network → select ARB.
Some small tips to avoid mistakes:
• Before withdrawing, check which network the recipient's wallet supports.
• If unsure, try transferring a small amount first (1–5 USDT).
☘️ Transfer Coins on Binance – Safe and Quick
If you only transfer coins between wallets in Binance like Spot, Funding, Futures, or Earn:
• No fees incurred.
• Transactions are almost instantaneous.
Want to send to friends using Binance? Just go to “Send” → choose via email or UID. It's also free and super fast.
☘️ Common Mistakes When Starting Out – And the Price to Pay
Newcomers can easily encounter a few basic but harmful mistakes.
For example, withdrawing USDT TRC20 to a wallet that only supports ERC20 – the coin won't arrive, and you lose it.
Or withdraw to another exchange without checking the network – the coin could be stuck, waiting for support.
Worse, transferring from Binance to another wallet with the wrong network selected – the coin could be completely lost, or you might have to pay a fee to recover it.
Just a little oversight, and the consequences can be very severe.
Just one wrong click – you could lose hundreds of dollars. At that point, you will wish you had checked a bit more carefully.
‼️ Remember 3 Simple Yet Important Things:
• Each type of coin can run on multiple networks – always check carefully before depositing/withdrawing.
• Know exactly which network your wallet supports.
• If you're not sure, try with a small amount first.
Just be a bit careful, and you will avoid 99% of the risk of losing money when trading crypto. Don't let a small mistake turn into an expensive lesson.
#crypto #Binance #CryptoNewss #warning!