Crypto at Duell: coins, networks and the pitfalls in between
Where a cashier accepts cryptocurrency, it often lists several coins and sometimes several networks for the same coin. The choice looks technical, but getting it wrong can cost you the whole amount. This guide explains the differences that matter and what to check before you send anything.
Coin and network are two different choices
Some tokens exist on several blockchains. A stablecoin such as USDT, for example, can be issued on more than one network, and the same address format does not always work across them. Sending a coin on a network the receiving address does not support can mean the funds are lost. Always choose the network the cashier specifies, and match it in your wallet.
Stablecoins versus volatile coins
| Type | What to know |
|---|---|
| Volatile coins (e.g. Bitcoin) | Value can change a lot between deposit and withdrawal |
| Stablecoins (e.g. USDT) | Designed to track a currency, but depend on the issuer |
| Network fees | Vary by network and congestion |
| Accepted coins and limits | Set by the operator — check the cashier |
Available methods and limits depend on the operator and your account — check the cashier. A method appearing in the cashier does not guarantee that your bank or wallet provider will process the payment.
Deposits
A crypto deposit is credited after the network confirms the transaction. Copy the deposit address from the cashier every time — some operators issue a new address per deposit. If a memo or tag is required, include it, or the deposit may not be matched to your account.
Withdrawals
A crypto withdrawal goes to an address you provide. Double-check it; a wrong address is final. Operators usually verify identity before paying out and may apply their own minimums and fees. The value you receive in your own currency depends on the price at that moment, unless you withdraw in a stablecoin.
Go to the offerCommon mistakes
- Sending on the wrong network.
- Forgetting a required memo or tag.
- Reusing an old deposit address the operator no longer uses.
- Pasting an address from a message instead of the cashier.
Crypto is not a way to avoid identity checks, local rules or tax obligations. Keep records of each transaction with its value in your own currency, and see the Bitcoin guide for more on price risk.