Cryptocurrency is a relatively new currency that operates completely differently from the traditional currencies we use every day, is issued or created in a unique way, and is decentralized. Because of how cryptocurrencies work, transfers from one wallet to another are basically the same, you just send the transaction using the destination wallet address and wait for confirmation, but there are a few exceptions to the transfer time, transaction fees, address format, and actual steps Depending on the currency, the same goes for transfers between exchanges. So is it possible to switch from a currency trading exchange to an exchange? Many investors want to know how to transfer between exchanges? Let me introduce it to you below.
Most trading platforms support cross-exchange currency transfers, which are displayed according to platform rules. Unlike intra-exchange buying and selling transactions, cross-exchange transfers are implemented through the wallet address of the transaction on the blockchain chain.
However, there is a prerequisite to ensure that both exchanges have listed this currency. If you mistakenly send BTC to an ETH wallet address, those funds will never be recovered. If you want to send BTC to Ethereum Exchange, you need to obtain your personal Ethereum Exchange BTC wallet address.
The following editor will use the example of transferring from Ouyi to Binance to introduce how to transfer this currency exchange:
The first step is to open the Ouyi Exchange. If you don’t have an account, Investors can click here to register a new account, go to the homepage and click Assets - Withdraw
The second step is to choose ordinary currency withdrawals, which include transfers and external transfer. If you want to transfer cryptocurrencies from Ethereum Exchange to Binance, then just choose the normal withdrawal option. In addition, internal transfer refers to transferring the assets of Eureka Exchange to other Eureka exchange accounts or accounts of open exchanges.
Step 3: Go to Binance official website and log in. If you don’t have an account, you can register one first. Find the "Wallet" option on the homepage and click to enter "Fund Account". Next, select the recharge option.
The fourth step is to copy the withdrawal amount obtained in the second step to the "Binance Exchange Deposit Address" or scan Binance QR code, you need to select the amount of Bitcoin to recharge, click Next to submit, and wait for the block confirmation to be credited, which usually takes a few minutes.
When you perform a withdrawal operation, you must pay attention to confirm that the currency of the withdrawal is the same currency as the currency supported by the withdrawal platform. And confirm the contract address. If the currency is inconsistent or the contract address is inconsistent, the account will not be received. You should also choose a chain that is consistent with the address of the remittance party. For example, USDT is divided into multiple chains such as ERC20 and TRC20. If you do not choose the correct chain, you will not be able to withdraw money to your account. Ordinary withdrawals used in this tutorial require network miner fees, which are charged by the network miners of the block. The platform does not charge withdrawal fees.
The above is the detailed content of Is it possible to switch from currency trading exchange to exchange? How to transfer currency speculation exchange?. For more information, please follow other related articles on the PHP Chinese website!