This FAQ addresses questions about mistakenly sending crypto to a wallet on a different blockchain and if the funds can be recovered.
What is a crosschain transaction?
Crosschain transactions are crypto currency transfers that are sent to a wallet on a different blockchain network from the originating wallet. For example, sending Bitcoin to an Ethereum wallet would be considered cross network. Usually cross chain transactions mistakes are related to similar types of crypto being sent to the wrong wallet, such as BTC (Bitcoin) to BCH (Bitcoin Cash), two related but separate currencies. Another common mixup is sending USDT to a wallet on a different network (ERC-20 vs TRC-20).
CoinZoom users have a separate wallet for each crypto they own. When sending to an outside wallet, you must confirm the receiving wallet is of the same blockchain.
Warning: If you send cryptocurrency to an incompatible wallet or over an incompatible network, you risk losing the entire transaction.
Which blockchain or network should I use?
When sending cryptocurrency to another wallet, you should always use the same blockchain as your wallet. If you send BTC, always make sure that the receiving wallet is a BTC wallet.
What's the difference between ERC-20 and TRC-20 networks for USDT?
TRC-20 and ERC-20 are different technical standards for processing cryptocurrency. Both of them have many kinds of cryptocurrencies built on their standard that can run on their networks. However, these two networks are not compatible with each other. Sending USDT-ERC-20 to a TRC-20 wallet will result in lost funds.
The TRC-20 network is commonly called the TRON network. The TRON network has many complex capabilities, including the ability to execute advanced, smart contracts. Many cryptocurrencies are based on the TRC-20 (TRON) network. An older, incompatible version is TRC-10, which CoinZoom does not support.
The ERC-20 network is an Ethereum-based network. Many cryptocurrencies such as USDT are built using the ERC-20 standard, but they are not compatible with USDT on any other network, such as TRC-20.
TRC-20 wallet IDs always start with an uppercase "T" as in TLJSeMGiSa... .
ERC-20 wallet IDs always start with "0x" as in 0x9fafa9761... .
Does CoinZoom Support TRC-20 and ERC-20?
Yes, CoinZoom supports both networks for USDT. You can send and receive USDT in either network to your CoinZoom wallet without having to specify a network type. Please see this article for additional information.
Warning: While CoinZoom supports both TRC-20 and ERC-20 networks for USDT, if you send or receive funds from any other network type, such as Binance or TRC-10, those funds will be lost.
Can I send USDT on a different network?
USDT can be processed on multiple networks. However, only TRC-20 (TRON) and ERC-20 networks are compatible with CoinZoom.
Does CoinZoom support the Binance BNB network?
No. CoinZoom does not support Binance's BNB network. It is a proprietary network that does not work with CoinZoom. If you are trying to send USDT from Binance to CoinZoom, always use the ERC-20 or TRC-20 network.
Can I recover funds from a crosschain transaction?
Maybe. It is expensive and not guaranteed. If you have sent a cryptocurrency to a non-compatible wallet, we can try to recover it for you. Please see this article for the process and fees.