Coins.ph supports a wide range of cryptocurrency networks and address formats, making it a versatile platform for digital asset transactions. As cryptocurrency continues to gain traction, understanding the various networks and address formats is essential for users of platforms like Coins.ph.
Importance of Using Correct Address Formats
Each cryptocurrency operates on its own network, utilizing unique address formats to facilitate transactions. Using the correct format is crucial; sending funds to an unsupported address can lead to irreversible loss.
Using the correct address format is crucial for several reasons:
- Transaction Success: Transactions sent to unsupported formats may fail or result in lost funds.
- Security: Each address format is designed to enhance security by preventing cross-chain confusion.
- Efficiency: Properly formatted addresses ensure faster processing times for transactions.
Supported Networks and Address Formats
Network |
Format |
BTC |
|
Bitcoin (Lightning) |
|
BTCRUNES |
|
BCH (Bitcoin Cash) |
|
ETH (ERC-20) |
|
BSC (BEP-20) |
|
TRX (TRC-20) |
|
RON (Ronin) |
|
XRP (Ripple) |
|
ARBITRUM (Arbitrum One) |
|
POL (Polygon) |
|
LTC (Litecoin) |
|
DOGE (Dogecoin) |
|
XDC (XDC Network) |
|
BRC-20 (Ordinals) |
|
COREUM |
|
SOL (Solana) |
|
XLM (Stellar) |
|
KAIA |
|
BASE |
|
TON (Toncoin) |
|
LAT |
|
SUI |
|
BLD (Agoric) |
|
Frequently Asked Questions
What happens if I use an incorrect address format?
Using an incorrect address format will result in a failed transaction. Always verify the correct format before initiating any transfer.
Do all networks require destination tags/memos?
No, only specific networks require destination tags or memos for certain transactions, particularly when sending to exchanges. If required, destination tags should be placed to avoid incorrect transfers.
Can I send tokens between different networks?
No, you must use the correct network and corresponding address format for each cryptocurrency. Cross-network transfers are not supported and may result in lost funds.