Which network to choose on HedgerX
Pick the network that the other side supports, not the one with the lowest fee. A token sent on a network the receiver does not support can be lost for good.
Do not choose the cheapest fee option. HedgerX says to choose the network that is compatible with the receiving platform.
What the names mean
| Name | Network |
|---|---|
| ERC20 | Ethereum |
| BEP20 | BNB Smart Chain (BSC) |
| TRC20 | TRON |
| BTC | Bitcoin |
| Arbitrum One | A layer 2 on Ethereum with lower fees |
| Solana | A fast, low-fee network used for DeFi and NFTs |
| TON | The Open Network, originally developed by Telegram |
| XRP Ledger | A network for fast cross-border payments |
Coins and networks that need a memo
XRP needs a destination tag. TON, BNB on the BEP-2 beacon chain and EOS need a memo. If the tag or memo is missing or wrong, the funds may not be credited and may be lost. Enter it exactly, on deposits and withdrawals alike.
Deposit and withdrawal checks
- To deposit, go to Wallet, Overview, Deposit, choose the coin, then choose the network of the platform you send from.
- To withdraw, go to Wallet, Withdraw, choose the coin, then choose the network the recipient wallet supports. Enter the address and a memo if needed.
- Check the address, the network and the amount once more before you confirm.
Frequently asked questions
Can I send an ERC-20 token to a BEP-20 address?
No. HedgerX says ERC-20 tokens can only go to ERC-20 addresses, BEP-20 tokens to BEP-20 addresses and Arbitrum One tokens to Arbitrum One addresses.
What if I am unsure which network to pick?
Ask the receiving platform which networks it supports, or contact HedgerX support, before you confirm.