Receive Crypto

Receiving crypto is a simple process but it involves some useful checks to avoid surprises and potential scams.

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Confirm asset and network

If the sender isn’t certain of their asset and network, pause until you’ve verified together.

Many tokens can exist on several networks. Matching the token to the network avoids stuck or misdirected transfers. Before opening your wallet or exchange, confirm the exact asset and network with the sender.

Open your wallet or exchange

On a CEX, look for “Deposit”.

Now that you know the asset and network, in your wallet tap “Receive”.

Select asset and network

Not all wallets support every network for every coin or token.

You’ll see a list of supported assets and networks — select the same combination the sender confirmed. In this case, the sender is sending Ethereum on the Ethereum chain.

Share your details

Copying your address after confirming the network ensures the address format matches the sender’s network.

Next, share your wallet or deposit address with the sender so they know where to send the funds. Copy your wallet address or let the sender scan your QR code with their phone’s camera to prevent typos. If you’re using a CEX, copy your deposit address.

Each blockchain network has its own address format and routing system — kind of like different countries having unique postal codes. Choosing the correct network generates the correct compatible address. If your wallet supports many blockchains, it will generate a unique address for each one. It’s still your wallet address, but sometimes with a different prefix your chosen network can understand.

Confirm wallet address

Use a trusted channel to send your address – like a phone call or text – and avoid screenshots or random DMs.

Always confirm the first, middle and last four characters of your wallet address with the sender. If any character differs, stop and resend your address.

You can use a second channel to confirm your wallet address with the sender. This just means a different way of communicating with the same person — for example, confirming details over a phone call, text, or video chat if you first sent the address by email or a messaging app. This helps prevent scams where someone hacks or impersonates one communication platform and changes your wallet address.

Transaction confirmed

Once the sender confirms things on their end, you’ll see a pending status. The time it takes for the crypto to get to you varies by network and how busy it is. It should take between a couple of minutes to an hour.

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Receive Crypto