In addition to checking the address, you also need to select the right network.
I tried the [withdraw] function on Binance after seeing the #Bluwhale airdrop demand, transferring ETH via the blockchain.
The steps are:
[Assets] – find and click [ETH] – [Withdraw] – [Transfer via Blockchain] – enter wallet address, select network
Here, beginners might have a question, which network to choose? Why choose a network?
Taking $ETH topping up and withdrawing coins as an example, due to high costs like Gas, many [topping up and withdrawing networks] have been developed on the L2 layer to make ETH transfers efficient and low-cost.
For example, on Binance, sorted by fees from low to high, there are networks like Base, Manta, Optimism, Arbitrum One, etc.
This morning when I withdrew coins, I unhesitatingly chose Base due to the low fees, but a big problem arose.
After transferring ETH to OKX, it shows as Base-ETH, while the airdrop only accepts ARB-ETH. Converting Base-ETH to ARB-ETH will cost 0.005 ETH.
This is simply a money grab!
So I withdrew Base-ETH back to Binance, which cost me 0.00004 ETH in fees for this round trip.
After returning to Binance, select the network – transfer out ETH via Arbitrum One, no matter how much you transfer, the fee is 0.00006 ETH.
A few minutes later, I received ARB-ETH in my OKX wallet and successfully topped up the airdrop project.
Thus, I resolved a question regarding withdrawals; the fees for [topping up and withdrawing networks] are quite cheap, not as exorbitantly described by some bloggers. It takes a bit of time, about 7-8 minutes to confirm the block.
This time is hardly worth mentioning for me!
To summarize, when topping up and withdrawing coins, there are a few things to confirm –
1. Wallet address;
2. Choose the network;
3. First, transfer a very small amount to test if the network is functioning properly, then transfer a larger amount.
This way, there will be no mistakes, wishing everyone prosperity in the Year of the Snake 🎉
