Instructions for depositing/withdrawing money for beginners: What are BTC, BSC, TRC, ERC?
🎈 Keywords in this article: Which chain?
EVM, non-EVM.
Most users are familiar with the TRC20 channel. But besides TRC20, there are other networks like BTC, BSC, and ERC. Let's find out what they mean.
BTC Chain: Little used other than storing BTC. There are two popular addresses: "bc1q" (cheaper fees) and "bc1p" (more popular).
ERC (EVM): Address of the Ethereum chain, starting with "0X". This is the universal address for Ethereum-based chains.
📌 Newcomers may not need to use the above right now.
What are BSC, TRC and ERC? Choosing the wrong network will cause the money to not arrive and cannot be refunded. Think of BSC and TRC as different banks that cannot transfer money between each other.
Advice: When receiving or withdrawing BSC assets, choose the BSC channel (bep20). Newcomers should try depositing/withdrawing a small amount first to confirm a successful transaction.
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