🛑 WARNING! Check this before depositing on Binance or you could lose your crypto forever.
Making your first crypto deposit is very exciting, but it’s also the moment when the most fatal mistakes are made in a rush. Sending funds to the wrong address on the blockchain is irreversible.
Before copying that deposit address, make sure you check THESE 3 critical points—YES or YES:
The CORRECT Network: This is #1 error. If you look at the image below, you’ll see that Binance gives you many options under “Select network” (such as BEP20 or ERC20). If you’re sending funds, the wallet issuing them and the one receiving them on Binance must use exactly the same network. If you send via a different network, your funds will disappear into the void.
The EXACT Cryptocurrency: Make sure you’re generating the address for the correct coin. Don’t send Bitcoin (
$BTC ) to a Bitcoin Cash (BCH) address, or USDT to an address like
$USDC . Each coin has its own space.
Additional Addresses (MEMO / Tag): Some cryptocurrencies like XRP (Ripple) or
$BNB require, in addition to the long address, a number called a MEMO or Tag. If you don’t include it when making the transfer, Binance won’t know those funds belong to you.
The golden advice: Never type the address manually. Always use the copy button or scan the QR code, and re-check the first and last 4 characters before sending. Prevention is better!
🚨 Tomorrow I’ll tell you: Deposit vs. Buy: What’s the cheapest way to add balance to Binance?
If you want to keep learning how to protect your money and master the platform step by step, remember to hit the follow button! 🚀
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