Would you like to transfer your cryptocurrencies from another exchange, personal wallet, or platform to Young Platform? This guide will walk you through the process of withdrawing from your external wallet and depositing your cryptocurrencies onto Young Platform while also considering the regulatory requirements set by the Travel Rule. Check networks, memos and compliance requirements.
Before making a deposit, please take the following steps:
1. Check Supported Networks: Verify which networks are supported by Young Platform. To find the most up-to-date list, please visit the 'Virtual Currencies Supported by Young Platform' section on the Fees and Prices page.
2. Confirm Memo/Tag Requirements: Determine if a Memo or Tag is required for the cryptocurrency you are depositing. Entering a memo/tag is mandatory for specific cryptocurrencies, such as Ripple (XRP), Stellar (XLM), Terra V2 (LUNA 2.0), and EOS. Young Platform will provide only the Memo ID if the originating platform requires a memo type.
3. Provide the information required by the Travel Rule: In Italy, the regulation sets the threshold at 0 EUR, meaning that any cryptocurrency withdrawal or deposit must include the additional information mandated by law.
4. Verify Self-Hosted Wallet Ownership: If you send cryptocurrencies to a self-hosted wallet, you may be required to verify its ownership before completing the transaction. This could involve using two-factor authentication (2FA), for example.
Attention!
- Deposits made on the wrong network or without a memo/tag may not be recoverable.
- Young Platform disclaims all liability for users' incorrect deposits. However, we will support deposits sent to the wrong network and return those without a memo/tag to the sender.
Deposit cryptocurrencies on Young Platform
To safely deposit your cryptocurrencies, follow these steps:
- Choose the cryptocurrency you want to deposit from the Young Platform homepage (Deposit > Cryptocurrency) or from the Wallet section.
- On Young Platform, you will see your wallet address for the selected cryptocurrency and network. If necessary, note the Memo/tag.
- Ensure you select the correct network for the transfer; the networks must match the sending and receiving wallets.
- Use the provided address (or the QR code) to complete the withdrawal transaction from your external wallet. To prevent errors, avoid typing the address manually; copy and paste it. Attention! Make sure that the address shown in the Deposit section on the Young Platform matches exactly the one entered in the withdrawal field of the originating platform. This helps prevent attacks that manipulate copied addresses in the clipboard or other forms of address substitution fraud.
- If required, paste the Memo/Tag and select the previously chosen network on Young Platform.
- If a CASP carries out the transaction, select Young Platform as the destination platform. If it is not listed, open a ticket with Young Platform Support. We will handle the issue directly with the platform from which the funds originate.
- Carefully check all details to complete the transfer.
By following these steps, you can ensure a safe deposit of your cryptocurrencies.
What happens after the transfer?
Once the transfer is complete:
- You can view the balance of the specific cryptocurrency in the Young Platform Wallet.
- Reception times vary depending on the network and the cryptocurrency used.
Please visit this page for further details on supported currencies, fees, and minimum amounts.
Valuable resources for transfers from other exchanges
Here are some guides to transferring cryptocurrencies from significant exchanges to Young Platform:
- Binance: How to Withdraw from Binance.
- Coinbase: How to send and receive
- Crypto.com: How to withdraw cryptocurrency from my Crypto.com Exchange wallet
- Gemini: How do I withdraw digital assets from my Gemini account?
- Huobi: How to withdraw coins
- Luno: How do I send cryptocurrency?
- Kraken: How to withdraw cryptocurrencies from your Kraken
- Poloniex: How to Withdraw
NB: Make sure you send cryptocurrencies to the correct Young Platform address. Transactions sent to the wrong address may not be recoverable.