How to Deposit Cryptocurrency Safely: Networks, Addresses and TXIDs Explained
Deposits go wrong for two reasons: a mismatched network or an unverified address. This guide explains every field on a deposit screen and how to check a transfer.
A crypto deposit looks like a copy-paste job, and mostly it is — but the two details people skim over, the network and the address, are also the two that make funds unrecoverable. This guide explains what each field on a deposit screen means, how confirmations work, and how to verify that a deposit actually arrived.
What a crypto deposit is
Depositing means sending crypto from a wallet or another platform to an address that belongs to your CoinYatra account. The transfer happens on the blockchain of that asset. CoinYatra credits your balance once the network has confirmed the transaction enough times.
Three facts follow from that:
- The transfer is irreversible. There is no recall.
- The credit is not instant. It waits for network confirmations.
- The address and network are asset-specific. An address generated for one network only works on that network.
Wallet addresses: what they are
An address is a long string identifying a destination on a blockchain. Its format depends on the chain — a Bitcoin address looks nothing like an Ethereum one. Deposit addresses on CoinYatra are generated per asset in the deposit section, and you should always copy them from the app rather than retyping or reusing an address from a chat or a note.
How to check an address safely
- Copy it with the copy button; never type it manually.
- After pasting, compare the first four and last four characters against the app.
- Send a small test amount first when depositing to a new address for the first time — as long as it clears the minimum deposit for that asset.
- Watch out for clipboard-hijacking malware, which silently swaps a copied address. The character check catches it.
Networks: the field that costs people money
Many assets exist on more than one blockchain, and the same token name does not mean the same network. On CoinYatra, USDT is offered on two:
| Asset | Network on CoinYatra | Notes |
|---|---|---|
| USDT (BEP20) | BNB Smart Chain | Deposit minimum 5 USDT; credited after network confirmations |
| USDT (ERC-20) | Ethereum | Deposit minimum 5 USDT; higher network fees on the sending side |
| BTC | Bitcoin | Deposit minimum 0.0002 BTC |
| ETH | Ethereum | Deposit minimum 0.005 ETH |
| SOL | Solana | Deposit minimum 0.02 SOL |
Other supported assets — including XRP, TRX, DOGE, ADA, DOT, LINK, BCH, NEAR, XLM and LTC — each have their own network and minimum shown on the deposit screen. Always read the network label on the screen you are depositing to, and select the matching network on the platform you are sending from. If the two do not match, the funds land on a chain where that address does not exist, and recovery is generally impossible.
Memos and tags
Some blockchains use a shared deposit address with an extra identifier — a memo, tag or destination tag — to work out which account a transfer belongs to. If a deposit screen shows a memo or tag field, it is not optional: sending without it, or with the wrong one, can leave the deposit unassigned and require manual investigation. Copy both fields, address and memo, and paste both.
Transaction IDs and confirmations
What a TXID is
When you send crypto, the network assigns the transaction a unique identifier, called a transaction hash or TXID. It is the receipt: with it, anyone can look up the transfer on a block explorer and see the amount, the sender, the receiver and how many confirmations it has. Keep the TXID from your sending wallet — it is the first thing needed if a deposit has to be traced.
What confirmations are
A confirmation means a block containing your transaction has been added to the chain. More confirmations make a transaction progressively harder to reverse, which is why platforms wait for a minimum number before crediting. The requirement differs by chain, reflecting how each network produces blocks. On CoinYatra, for example, deposits currently wait for 2 confirmations on Bitcoin, 12 on Ethereum, 15 on BNB Smart Chain and 32 on Solana. The deposit screen shows the requirement for the asset you selected.
So a "pending" deposit is normal. It means the network has seen your transaction and CoinYatra is waiting for it to be deep enough to credit.
Step by step: making a deposit
- Open the deposit screen in your dashboard and select the asset you are depositing.
- Select the network if the asset offers more than one. Match it to the network you will send from.
- Note the minimum deposit shown for that asset. Amounts below it may not be credited.
- Copy the address — and the memo or tag, if one is displayed.
- Go to your sending wallet or platform, paste the address, select the same network, and enter the amount.
- Verify before sending: first and last characters of the address, network, memo, amount.
- Send, and save the TXID that the sending side gives you.
- Wait for confirmations. Track progress in your activity history; the balance appears in your portfolio once credited.
How to verify a deposit
- On the blockchain: paste the TXID into a block explorer for that network and check the status, the receiving address and the confirmation count.
- On CoinYatra: the deposit appears in activity with its amount and status, and your available balance increases once it is credited.
- If it does not appear: confirm you sent on the correct network to the correct address, that the amount met the minimum, and that the explorer shows the transaction as confirmed. Then contact support with the asset, network, amount, address and TXID — those five details are what make investigation possible.
Wrong-network and wrong-address risks
- Wrong network, right address format. The most common loss: sending BEP20 USDT to an ERC-20 address or vice versa.
- Right network, wrong asset. Sending a token to an address generated for a different asset on the same chain can also strand the funds.
- Missing memo. Deposits on memo-based chains without the identifier need manual investigation and may not be recoverable.
- Below the minimum. Very small deposits can fail to credit and are usually not worth recovering relative to fees.
- Clipboard malware. Always compare characters after pasting.
There is no undo for any of these. The two-minute verification habit is the whole defence.
Frequently asked questions
Why is my deposit still pending?
It is waiting for the required number of network confirmations. Look up the TXID on a block explorer to see the current count; congestion on the sending chain can slow this down.
Can I reuse the same deposit address?
Addresses shown in the app for an asset can generally be reused, but always copy the current one from the deposit screen rather than an old note — details can change.
What happens if I deposit below the minimum?
The deposit may not be credited automatically. Contact support with the TXID, but understand that recovering amounts smaller than network fees is often impractical.
Do deposits cost a fee?
CoinYatra does not charge you the sending network's fee — that is paid by the wallet or platform you send from, and it varies with network conditions. Current platform fees are on the fees page.
Is a TXID sensitive information?
No. It is public data on the blockchain. Your password, 2FA codes and recovery details are the sensitive items — see the crypto security guide.
Can I deposit rupees?
No. Deposits are crypto transfers. Rupee conversion happens through P2P trading, where you pay a counterparty directly by UPI or bank transfer.
Conclusion
Deposits go wrong for one of two reasons: a mismatched network or an unverified address. Copy from the app, match the network on both sides, respect the minimum, keep the TXID, and treat "pending" as the system working rather than a problem.
When you are ready, open the deposit screen, and read crypto withdrawals explained before sending anything back out.
Blockchain transfers are irreversible and crypto values fluctuate. Nothing here is investment advice. See the CoinYatra risk disclosure.
