Bitcoin Forum

The exchanging I am currently using transfers ETH from a smart contract when I do withdrawals.
From what I read I would need to create a wallet to receive it then transfer it again which is silly...
So I'm curious, do you know any exchanges/services that support deposits in this form? Every site I found does not support deposits via a smart contract.

try cex.io I remember they support eth deposit through smart contract, it's just that for the security of the exchange I doubt because I have never used this exchange, before making a deposit you should check the reviews of other users.

https://blog.cex.io/news/eth-smart-contract-17676 (https://blog.cex.io/news/eth-smart-contract-17676)

Some exchanges do not support ETH deposit/withdraw to smart contract because sometimes it causes some error, like out of gas because some contract address requires a specific amount of gas limit and it causes many issues I guess that is why they don't allow that transaction. If I were you, Sending to a wallet is not that hassle it is pretty easy and your funds will surely go through than risking it to be pending for weeks or months because of error.

I registered and the deposit page says "do not deposit via a smart contract".

Many newcomers are unaware of this and I wondered if some exchanges support it why not others?

There are a lot of reasons, and this has been discussed as well. You can go visit this post like two years ago. The author stated the reasons so you will get an idea: Why you should not send Ethereum using a SMART CONTRACT to most exchanges. (https://bitcointalk.org/index.php?topic=4404014.0).

Thanks. Perhaps exchanges should stop sending coins from a smart contract then.

I don't think there's any exchange that will allow you to deposit ETH to your account using a smart contract.

May I know which exchange you were using so that I can steer clear of that exchange.

Not sure if there any big exchange out there but in my country i have local exchange that accepting deposit from smart contract, You can search up triv.co.id but it's only supportin IDR Currency but have TUSD and other altcoins, Anyway how about making new address and then you deposit your asset from smart contract to address first then you can sell it, Just my opinion, Cheers mate

Looks like I better do it this way.

I'm not sure there is such an exchange, it's better you make a new wallet than you lose your coins later

The point I'm trying to make is if no exchanges support this maybe this way of withdrawal should not exist.

It's not worth the hassle, better off using swap exchanges like shapeshift or use top exchanges like binance, there isn't any danger depositing on top exchanges ethereum address instead, sending Ethereum using smart contracts as it's flaws and you need to be careful

For first time users creating a wallet is not as easy as it seems

It might look silly but they are trying to protect your funds and that's it. Almost all exchanges does it and I don't think I have come across any which doesn't. To be on the safer side I would suggest you go ahead and create an external wallet, send it to the wallet first and then withdraw back to the exchange, it might look stressful but that's the only way out. In addition to that, with few clicks you can easily create a wallet with trust wallet and then use it, the wallet which you can still keep for other future purposes.

How is it they are protecting our funds? I'm not following...