Finrax API
HomeChangelogIntegration GuideResources
HomeChangelogIntegration GuideResources
  1. Guides
  • Articles
    • 10 Cryptocurrency Statistics, Facts, and Trends in 2024
    • Why choose USDT as a settlement currency?
  • Guides
    • How to create a business?
    • User roles and permissions
    • Deposit flow
    • Instant Deposits
    • Settlement allocation ratio
    • One-time payments vs. reusable payments
    • Fixed rates vs Floating rates
    • Whitelisting of addresses
    • How to submit a withdrawal?
    • Our approach to overpayments
    • Wrong chain recoveries
    • Blockchain network selection
    • Settlement currency conversions
    • Adding funds to business through a fiat top-up
    • Withdrawal approvals
  • General Inquiries
    • High-risk countries list
  1. Guides

Blockchain network selection

Due to the nature of blockchain technology, one token can exist in different blockchain networks. For example, USDT is available on Ethereum, TRON, and BSC, as well as on other blockchains. To provide a better deposit experience, we are supporting these most common chains:

  • TRC20 which refers to the TRON network (TRX)
  • ERC20 which refers to the Ethereum network (ETH)
  • BEP20 which refers to the BNB Smart Chain network (BSC)
  • SPL which refers to the Solana Network (SOL)

To successfully deposit tokens, you need to select the appropriate network and confirm your choice:

📌

Please make sure that the selected network matches the network of the platform from which you are withdrawing funds. If the wrong network is selected, you may lose your funds.

The network selection depends on the options provided by the external wallet/exchange from which you are withdrawing funds. For example, if the external platform supports USDT only on the TRON network, you must select TRX Tron network (TRC20) on the checkout page as shown in the image above.
For both ERC20 and BEP20, bear in mind that both networks share the same address format (EVM compatible). If you are sending USDT on the Ethereum network, make sure to select ETH Ethereum network (ERC20) in the network selection menu, the same for BNB Smart Chain.

Modified at 2024-07-10 13:11:38
Previous
Wrong chain recoveries
Next
Settlement currency conversions
Built with