Digital currency deposits

Usually, digital currencies are added to your Bitvavo account within a few minutes to a few hours. The duration depends on how quickly your transaction is confirmed by the network and how many confirmations we require. This number varies for each digital currency; you can find an overview here.

Be cautious when sending digital currency to your Bitvavo account. If digital currency is deposited incorrectly due to a user error (e.g., incorrect address, unsupported currency, or network), it cannot be rectified. This means you will lose your funds.

Depositing via OPT blockchain, Wrapped tokens, or MATIC will result in the loss of your coins.

Each cryptocurrency operates on its own network. Some exchanges and wallets have introduced the ability to support multiple networks for individual cryptocurrencies. This is not the case for Bitvavo!

To avoid confusion about the correct network to use for deposits to your Bitvavo wallet, Bitvavo currently supports only one network.

The Bitcoin network, the Ethereum network, and the BNB Smart Chain are the most widely used and popular networks. Please note that Bitvavo does not support BNB Smart Chain or Tron chain (TRC-20) deposits for Ethereum-based currencies like USDT and USDC, except for BNB and TRX.

Sending other assets on the wrong network may result in the complete loss of your funds.

Check in advance if deposits and withdrawals are active, disabled, or under maintenance for specific assets on our status page.

Below is an extensive list of all cryptocurrencies offered by Bitvavo and their respective networks at Bitvavo:

No, Bitvavo only supports NEO deposits over the NEO Legacy network. Deposits using the N3 network will be lost. 

Why do you need a memo or tag for sending crypto assets?

When sending certain digital currencies, it is important to include a memo or tag to ensure that the transaction reaches the intended recipient and is correctly credited to their wallet.
The memo or tag is typically used to distinguish between different transactions and ensure that the funds are credited to the right account. For example, when sending assets to an exchange, you may need to add a memo or tag to identify your account so that the exchange can credit the funds to your account.
Without a memo or tag, the transaction may be delayed or even lost.

What is the difference between a tag and a memo?

In the context of cryptocurrency transactions, both a tag and a memo serve a similar purpose, providing additional information to identify a transaction. However, the difference between the two depends on the specific cryptocurrency being used.

Memo
A memo is a piece of information added to a transaction to provide additional details about the payment. Memos are often used in transactions involving cryptocurrencies such as Eos (EOS) and Stellar (XLM). In these networks, a memo is used to distinguish between different payments sent to the same address.

For example, if you are sending multiple payments to the same recipient, you can add a unique memo to each payment to ensure they are correctly identified and credited to the recipient's account.

Tag
A tag is a unique identification code used in transactions involving cryptocurrencies like Ripple (XRP). A tag is typically a numerical code added to the recipient's address to ensure that the transaction is routed correctly to the intended recipient. Similar to a memo, a tag is used to distinguish between different payments sent to the same address.

In summary, the main difference between a tag and a memo is that a tag is typically used as a unique identification code to route a transaction, while a memo is used to provide additional details about a payment. However, the specific use of tags and memos may vary depending on the network used.