Academy Details

Multi-chain Network Selection

Posted on 2022-04-14 11:46:19

Hello everyone!!!

We all know that before now, it was discouraging to deposit or withdraw on the exchange via the ERC20 network because of the high Ethereum gas fees which is why we dedicated the needed resources to implement the multi-chain network selection on the exchange.

This article will guide you on how to deposit and withdraw via the multi-chain network selection.

What is Multi-chain Network Selection?

The multi-network selection is a new feature that allows users to deposit or withdraw via different chain networks on the exchange. The new integrated chains are Binance Smart Chain (BEP20), TRC Chain, (TRC10 and TRC20), and Waves chain. For example, a user can deposit or withdraw USDT via ERC20, BEP20, or TRC20 on the exchange with ease.

In one way or the other, you must have attempted to withdraw an ERC20 token, let's say USDT for example but got discouraged by the withdrawal fee, as most coins on Naijacrypto were only available on the ERC20 chain, and Ethereum gas fees were as high as $20-$50.

The Multi-network selection system however solves this challenge. You can now select from a multitude of different networks of your favorite cryptos when making your next crypto deposit or withdrawal.

Deposits.

To deposit for instance TRC20 USDT on your account; sign in, and click on the USDT deposit from the wallet page. Click on the TRC20 tab, or click on the arrow drawdown beside the coin to view the available networks on the app. Select the TRC 20 option, copy the updated wallet address, paste it to the third-party exchange and complete your deposit!

Withdrawal.

Crypto withdrawal using the multi-network selection has become easy like never before! You can now avoid high withdrawal fees when you withdraw using the BEP20 or TRC 20 chains of your favorite coins. The withdrawal follows the same procedure. Log in to your account, locate the coin, click on withdrawal and select your preferred withdrawal network. Paste the receiving wallet, input the amount of the coin you wish to withdraw, click on submit, and voila! Your transaction is complete.

As you can see, it's simpler than you think it is! Have fun trading on our platform, and remember to refer your friends.