How to deposit crypto into your wallet (on-chain)
Depositing crypto is simple, but picking the wrong network can cost you the funds. How to choose the network, check the address, and what to do if you slip.
The one step where money can actually be lost
Depositing crypto into your wallet means receiving a transfer from another wallet or an exchange. The procedure takes four taps. But it contains the decision that causes the most irreversible loss among beginners: choosing the network.
It is worth understanding the problem before the walkthrough, because it explains all the care.
Why the network matters so much
The same token exists on several networks, as different contracts. USDT on BNB Chain is an ERC-20 contract on that network; USDT on Polygon is another contract, on another network. They are distinct assets sharing a name.
Worse: address format is identical across every EVM network. An address valid on BNB Chain is equally valid on Polygon, Base, Arbitrum. That means sending on the wrong network produces no error — the transaction is accepted and confirmed, and the value goes somewhere your wallet is not looking.
If you control that address's key, it is recoverable: just add the right network. If the destination is an exchange that does not support that network, often it is not.
Walkthrough
1. Open the wallet and tap "Receive". 2. Choose the network — and choose before copying anything. If the transfer comes from an exchange, the network shown in their withdrawal screen is the one to select here. 3. Copy the address or use the QR code. The QR is safer: it removes the risk of malicious software swapping what you pasted. 4. Send from the origin, on the same network, and confirm. 5. Wait for confirmation. Timing depends on the network: BNB Chain and Solana confirm in seconds; others can take minutes.
Three checks that prevent the problem
- Compare the first and last digits of the destination address against what is in your wallet, after pasting. Clipboard malware swaps an entire address for a similar-looking one — and nobody checks the middle.
- Do a small test the first time with a new address. The test costs cents; the mistake costs the whole amount.
- Confirm the network name on both ends. "BNB Smart Chain", "BEP20" and "BSC" are the same thing. "Ethereum" and "ERC20" are not the same as "BEP20".
After the deposit
The balance appears once the network confirms. On fees: on BNB Chain and Solana, VKX covers the network fee for operations made in the app — the cost still exists and is paid by the company's treasury instead of coming out of your balance. On other networks, fees follow the network's standard.
With a balance in the wallet, the next step is usually your first swap.
If you sent on the wrong network
Do not panic, and do not search for a "recovery service" — that search leads straight to scams.
- If the destination address is yours (same recovery phrase), the value is there: add the correct network to the wallet and it appears.
- If the destination is an exchange, open a ticket with the transaction hash. Some recover it, for a fee; others do not.
- Never pay upfront to anyone promising to recover funds. There is no recovery that requires you to send more crypto.
FAQ
Do I need a fee to receive? No. Receiving costs nothing; the sender pays.
I sent on the wrong network, did I lose everything? If the address is yours, no — add the right network. If it belongs to a third party, it depends on them.
How long does it take? It depends on the network. BNB Chain and Solana usually confirm in seconds.
Why has my balance not appeared? Check that the network selected in the wallet matches the one used to send, and that the transaction has confirmed at the origin.
Can I reuse the same address? Yes. A receiving address is reusable.
Next step
With a balance in the wallet, see how to make your first swap. And if you have not stored your recovery phrase on paper yet, do that first.
Disclaimer: this content is informational and educational and does not constitute investment advice.