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Network selection

Currently, CoinLoan supports both BSC and Ethereum to transfer certain stablecoins. Here’s the guide on choosing the network for a transfer.

Sofia avatar
Written by Sofia
Updated over a week ago

CoinLoan supports a variety of blockchains. See our complete list of supported blockchains here. On our platform, you use a certain blockchain for one or a limited number of assets only. But as we added support for BNB Smart Chain, now our users can choose which blockchain they use for the deposit or withdrawal of certain assets.

What assets are available for transferring via both networks?

Here is the list of available assets which you can currently deposit or withdraw using either Ethereum or BSC blockchains:

Stablecoins: USDC, BUSD, and USDT

What’s the difference between these blockchains? Learn more in our article.

Withdrawal fees

  • BSC network: Withdrawals are free.

  • Ethereum blockchain: Every user has one free withdrawal per month. Every subsequent withdrawal entails a fee in the withdrawal currency, depending on the asset.

How to select the desired network

Web platform

⠀⠀1. Go to your Wallet.

⠀⠀2. Pick the asset you want to deposit or withdraw and click the corresponding button.

Deposit and Withdraw buttons — Web platform

⠀⠀3. Choose the desired blockchain in the Network drop-down menu.

Deposit form — Web platform

Withdrawal form — Web platform

Mobile app

⠀⠀1. Open the CoinLoan mobile app on your Android or iOS device.

⠀⠀2. Go to the Wallet module.

⠀⠀3. Pick the asset you want to deposit or withdraw and press the corresponding button.

⠀⠀4. Choose the desired blockchain.

Select a network to deposit or withdraw assets — Mobile app

Note: When transferring assets, make sure the chosen blockchain matches your asset. Otherwise, you will permanently lose your assets.

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