They transfer funds from one wallet to another, but the coins don’t get deposited.
Why? There are 3 main reasons:
1. The processing speeds of blockchains. Sometimes, blockchains are slow, and transactions take longer than usual. For example, in Ethereum, transactions can sometimes last for hours.
2. Invalid network or address: You could have made a mistake when choosing the network. For example, if you transfer your USDT from the Tron network to the BNB Smart Chain network, the transaction will not pass. Make sure the network and address match.
3. A memo is not specified: Some blockchains require specifying a memo when sending transactions. A memo is a “comment” on a transaction. If necessary, the exchange will warn you what memo you should specify, so read the instructions carefully.
And one more general tip: If you’re making a transaction for the first time, make a test transfer by sending the minimum amount — e.g., 1 USDT. If it’s successful, it’s safe to send whatever amount you want to that address.
Don’t forget that, in the crypto world, it’s often impossible to return money lost or sent to a wrong address.
