Withdrawal Network
Transfer network · Chain · Memo (destination tag)
The blockchain a coin is sent over when you withdraw it; it must match the network of the receiving address.
Simple explanation
Background: Korean exchanges (Upbit, Bithumb, Coinone and Digital X, formerly Korbit) each support only some networks for a coin, and transfers to overseas exchanges or personal wallets also go through Travel Rule checks, so choosing the network is a routine but important step.
Many coins live on more than one blockchain. Tether (USDT), for example, is issued on Tron (TRC-20), Ethereum (ERC-20) and several other networks, so you have to pick which one to send it over. Exchanges support different sets of networks, and each network has its own withdrawal fee, minimum withdrawal amount and arrival time.
The key rule: the network you choose when sending must be the network the receiving deposit address was made on. Check the network name on the receiving exchange's deposit screen first, then choose the same one on the sending side.
If the address formats differ (a Tron address starts with T, an Ethereum address with 0x), a wrong choice is usually rejected on the withdrawal form. The real danger is networks that share the same 0x address format, such as Ethereum, BNB Smart Chain and Arbitrum. Pick the wrong one and the transfer still completes, but if the receiving exchange does not support that network, the coins never show up in your balance.
For coins such as XRP and Stellar (XLM), an exchange takes everyone's deposits at one shared address and tells them apart by a number called a destination tag or memo. Even with the right address, a missing or wrong tag means the coins do not reach your account.
After a wrong network or a missing memo, you have to ask the exchange for a recovery. Whether it can be done, how long it takes and what it costs differ by exchange, and sometimes the coins cannot be recovered at all. A blockchain transfer cannot be cancelled once it is sent.
Sending from a Korean exchange to an overseas exchange or a personal wallet may need extra steps because of the Travel Rule, such as choosing the receiving exchange or registering the wallet address. On a route you have not used before, sending a small amount first and checking that it arrives helps avoid costly mistakes.
Deposits and withdrawals can also be suspended network by network: the same coin may be blocked on one network and open on another, so check each network's status on the exchange's screen before you withdraw.
If you are moving coins because of the kimchi premium, the network you choose changes the withdrawal fee and the arrival time, and with them what you keep and how long you are exposed to price moves while the coins are on their way.
Example
Sending 1,000 USDT from an overseas exchange to a Korean exchange
① Korean exchange's deposit screen: network Ethereum (ERC-20), address starting with 0x
② On the overseas exchange choose the same Ethereum (ERC-20) → if the withdrawal fee is 3 USDT, you receive 1,000 − 3 = 997 USDT
③ Choose BNB Smart Chain (BEP-20), which the Korean exchange does not support, by mistake → the address looks the same, so the withdrawal completes → nothing arrives in the Korean balance (0 USDT) → a recovery request is needed
Sending 500 XRP to a Korean exchange → enter the deposit address and the destination tag (e.g. 12345678) together → the amount minus the withdrawal fee reaches your balance
Leave the tag out → the XRP reaches the exchange's address, but nobody can tell it is yours, so it does not show up in your balance
※ Example numbers, for illustration only
See it on CoinGaja
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