What does exchange withdrawal network mean? Exchange currency withdrawal operation tutorial

php Editor Xinyi: Tutorial on popularization and operation of exchange currency withdrawal network The exchange currency withdrawal network refers to a blockchain network that users can choose when withdrawing currency from the exchange. Different blockchain networks have different characteristics and fees, and users need to choose the appropriate network based on their needs. Operation tutorial: 1. Log in to the exchange account and enter the "Asset Management" page. 2. Select the currency you want to withdraw and click "Withdraw Coin". 3. Select the withdrawal network and fill in the withdrawal address and other necessary information. 4. After confirming that everything is correct, click "Submit". 5. Wait for the exchange’s approval to complete the withdrawal. Kind tips: Before withdrawing coins, please be sure to confirm that the withdrawal address is correct. Different blockchain networks have different withdrawal fees. Please choose the appropriate network according to your needs. Withdrawing coins takes a certain amount of time, please be patient.

What does the exchange withdrawal network mean?

The currency withdrawal network is the blockchain network connected to the exchange when withdrawing currency. When the user withdraws the currency, the exchange will send the digital currency to the address specified by the user and confirm it on the blockchain network to ensure the validity and security of the operation.

When choosing a withdrawal network, please pay attention to the same as the recharge network. The address of each network is different. Investors should choose carefully to avoid losing coins. The performance of different networks is different, resulting in differences in the speed, security, handling fees, etc. of recharge.

In the digital currency market, there are three popular currency withdrawal networks: OMNI network, ERC20 network and TRC20 network. If investors are concerned about handling fees and want to reduce transfer costs, they should choose the TRC20 chain type. Compared with the handling fee of 5 USDT for the OMNI chain type and the 2 USDT handling fee for the ERC20 chain type, the transfer fee for the TRC20 chain type is 0.

Exchange currency withdrawal operation tutorial

Open the Ouyi website, click Asset Management, select currency, and enter the currency withdrawal page.

2. Select the currency you want to withdraw, such as BTC, select the withdrawal method, you can choose on-chain withdrawal or internal transfer, and then click Next .

3. Fill in the withdrawal information such as the withdrawal address, network, quantity and handling fee, and click Next after confirming that it is correct.

Note: Before withdrawing money, please 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. In addition, you need to 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.

4. Fill in the email verification code and SMS verification code to complete the security verification, and click Confirm.

5. If the other party’s account is a registered account of Ouyi, you can choose to withdraw cash by internal transfer, enter the receiving account and amount, and click Just one step.

Note: The receiving account can be a mobile phone number, email address or sub-account. There is no handling fee for internal transfers and the funds arrive quickly.

6. Some currencies will also generate a tag (Memo/Tag) when generating a withdrawal address, such as XRP. The tag is usually a string of numbers. , you must fill in the withdrawal address and label when withdrawing these currencies, otherwise the withdrawal will not be credited to your account.

Generally speaking, users can enjoy the benefits of convenience, safety, reliability, low cost, transparency and diversity by using the exchange withdrawal network. , however, currency withdrawal operations also involve a certain degree of risk. Therefore, users need to be cautious when using exchanges to withdraw coins, and be sure to ensure that the chosen withdrawal network is correct, so as to protect digital assets from the risk of withdrawing the wrong chain and causing the loss of coins. Due to the anonymity of the blockchain network and privacy, once the wrong information is entered, it will cause an irreversible situation.

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