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Title: Help with transferring funds from hitbtc to Binance Post by: webgamer1986 on November 03, 2021, 01:17:22 AM Hi..I want to transfer btc from hitbtc exchange to binance. On binance wallet, they say that you have to match the network as well - network contains BEP2, BEP20, BTC, ERC20 and Segwit.
I do not see any network in hitbtc side on the withdrawal page? Please guide how I should be doing the transfer. They do mention that if network is wrong, I will loose my cryptos. Title: Re: Help with transferring funds from hitbtc to Binance Post by: jackg on November 03, 2021, 01:46:35 AM You'll just be wanting to select btc then (it's listed on mine as "bitcoin" ), you can also select segwit though (idk if those are two options or one).
The bep stuff is binance trying to force their own chain onto you and erc20 isn't original bitcoin (it's more like a bond that says you possess it but don't actually). Title: Re: Help with transferring funds from hitbtc to Binance Post by: Myleschetty on November 03, 2021, 01:52:33 AM Yes, if the network does not match you may lose your BTC but you'll be fine by using the SegWit wallet address (the wallet that starts with bc1) which both exchange site support and for the record hitBTC is the first crypto exchange to support the SegWit activation.
Title: Re: Help with transferring funds from hitbtc to Binance Post by: webgamer1986 on November 03, 2021, 02:13:39 AM Many thanks mates :). I will choose Segwit to proceed.
Title: Re: Help with transferring funds from hitbtc to Binance Post by: The Cryptovator on November 03, 2021, 03:36:03 AM I know Binance made it complex for newbies. Keep in mind, if any platform just gives you the single option for withdrawal and deposit Bitcoin means it's on the main BTC chain. All other chain is just token, not real Bitcoin. They manage it to save transactions fee and expand their chain. In a word, since Hitbtc gives you a single option to withdraw BTC and there is no other select chain option, so it's confirmed they are gonna broadcast transactions to the main chain, so you select BTC chain from the Binance to generate your deposit address.
Many thanks mates :). I will choose Segwit to proceed. If Hitbtc support SegWit then just procced, if not then choose BTC. Title: Re: Help with transferring funds from hitbtc to Binance Post by: crwth on November 03, 2021, 05:56:54 AM You would immediately see on the deposit page of HitBTC what kind of address it could be. I think to be safe, you should choose BTC (from Binance and legacy version) and see if the address in your HitBTC account starts with "1". If not, if it's "3" or "bc1" for native segwit, choose SegWit.
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