Lesson 1.0.0. How to Deposit a Crypto into a Crypto Wallet
Once you have confirmed the presence of the correct wallet, you can receive crypto into the wallet by taking the following steps:
Step 1: Login to your crypto account
Step 2: Click on Asset
Step 3: Click on the Deposit button of the particular cryptocurrency, e.g. Bitcoin (BTC).
This will reveal three things:
• the wallet address, which is a combination of alphanumeric digits.
• the wallet QR code
• the chain network
A chain network refers to the pattern of system which the crypto will use to make the deposit. Popular chain networks are BEP20, ERC20, TRC20, and OMNI. You will learn more about these chains in the Tertiary School of Cryptocurrency.
Step 4: Select the chain network, if there is an option for that.
Step 5: Copy the wallet address.
Step 6: Give the wallet address to the person who wants to send you the crypto coin. The sender will need to paste the wallet address on the withdrawal section using the same chain network with which you generated the deposit wallet address (see Lesson 2.0.0 of Grade 6).
Note that the chain network you select for the deposit should be the same network that the sender is using to send the crypto to you. For instance, if you are depositing Ether using a TRC20 network, be sure that the withdrawal (sender’s) wallet is also a TRC20 network.
If you send the Ether from a TRC20 network to a wallet of ERC20, the Ether will be lost even if the wallet address is copied correctly.
Meanwhile, depositing into a crypto wallet is generally free of charge.