What Is On-Chain Withdrawal?
On-chain withdrawal refers to the process of transferring digital assets from one platform to another via a blockchain network. To withdraw successfully, ensure both the sending and receiving platforms support the same:
- Currency
- Contract address
- Network chain
Once confirmed by miners, the transfer completes.
Key Considerations:
- Withdrawal Address: Retrieve via OKLink by searching the transaction hash (tutorial available in transaction details).
- Incorrect Address Transfers: Contact the platform/person who provided the address for recovery assistance.
Three Types of On-Chain Withdrawal Addresses
1. Standard Address
Exclusively supports one currency and one network.
- Example: A USDT-ERC20 address only accepts USDT on the ERC20 network.
- Use Case: Ideal for single-currency transactions with fixed network requirements.
2. Universal Address
Supports all assets on a chosen network.
- Example: An ERC20 universal address accommodates ETH, USDT, and other ERC20 tokens.
- Advantage: Flexible for multi-currency transactions within the same network.
3. EVM (Ethereum Virtual Machine) Address
- Purpose: Identifies accounts on Ethereum and EVM-compatible blockchains (e.g., BSC, Polygon).
Features:
- Enables smart contract interactions.
- Compatible with cross-chain EVM networks.
EVM Address Characteristics:
Options:
- EVM-compatible assets: Standard, Universal, or EVM addresses.
- Non-EVM assets: Only Standard or Universal addresses.
Management:
- Add once; saved in EVM-supported address books.
- Auto-filters mismatched networks for accurate withdrawals.
⚠️ Note:
- A Standard Address can be re-added as Universal/EVM, but EVM/Universal addresses cannot be converted post-creation.
Best Practices for Safe Withdrawals
- Triple-check: Currency, network, and address before confirming.
- EVM Compatibility: Verify the recipient platform supports your EVM network.
FAQ Section
Q1: Can I use a Universal Address for all cryptocurrencies?
A: Only within its designated network (e.g., ERC20 Universal Address works for ERC20 tokens only).
Q2: What happens if I withdraw to an incompatible EVM address?
A: The transaction may fail or result in permanent loss. Always confirm network support.
Q3: How do I find my withdrawal address?
A: Use blockchain explorers like 👉 OKLink to search transaction hashes.
Q4: Why can’t I convert an EVM address to a Standard Address later?
A: EVM/Universal addresses are locked to their type to prevent configuration errors.
Q5: Are EVM addresses safer than Standard Addresses?
A: Safety depends on proper usage. EVM addresses offer broader utility but require precise network matching.
👉 Pro Tip: Bookmark 👉 OKX’s withdrawal guide for quick reference on address management!