Every operation on the DeFi Wallet requires a network fee, payable in ETH, USDC, EURC or YNG based on the settings selected in the Manage fees section. If you don't have any of these four cryptocurrencies, you won't be able to perform any operations (such as sends, swaps or Lending deposits), even if the overall wallet balance is not empty.
In this case, the Network fees card will appear on the DeFi Wallet screen with the INSUFFICIENT BALANCE label and the Add funds button, which will allow you to obtain the necessary cryptocurrency. This guide explains the steps to get the liquidity needed to cover network fees.
Before you start
- The card appears whenever you don't have enough cryptocurrency to cover network fees, and disappears as soon as the balance of one of them becomes positive.
- You have two options: transfer ETH or YNG already present on your Young Wallet to the DeFi Wallet, or purchase USDC or EURC in euros. Since stablecoins cannot be transferred from the Young Wallet, they only appear among the purchase options.
- In both cases, the order is executed on the Young Platform platform and the cryptocurrencies are credited directly to the DeFi Wallet.
- Each operation is subject to minimum and maximum amount limits, clearly indicated below the amount entry field.
For details on the fees applied, amount limits and the specificities of each stablecoin, see the DeFi Wallet Fees guide and the DeFi Wallet Fees and Prices page.
Moving ETH or YNG from the Young Wallet
This is the quickest way if you already have ETH or YNG on your Young Wallet.
Here are the steps:
- In the Network fees card, tap Add funds.
- In the Add funds screen, under From Young Wallet, tap the crypto to move: you'll see the available balance next to it.
- Type how much you want to move. You can use MAX or the quick percentages and check the minimum amount indicated below the figure.
- Tap Order preview and check the details: cryptocurrency, source and destination wallet, network, amount and fees.
- Tap Confirm order and authorise with Face ID or fingerprint.
Purchasing USDC or EURC
If you don't have ETH or YNG on your Young Wallet, or you prefer to pay fees in stablecoins, purchase them in euros without leaving the flow.
Here are the steps:
- In the Network fees card, tap Add funds.
- Under Buy, choose USD Coin (USDC) or EUR Coin (EURC).
- Type the amount in euros, using the quick amounts or MAX. Below the figure you'll see the equivalent value in stablecoins; the payment source can be changed with Edit.
- Tap Order preview: you'll find the price, the credit to the DeFi Wallet, amount, fees, net amount and the price quote timer.
- Tap Confirm Order before the timer expires and complete the security verification, if requested.
Once confirmed, the order cannot be cancelled. Upon completion, the Network fees card disappears from the wallet page.
If you were in the middle of another operation
You often notice the insufficient balance while doing something else, for example a send or a swap. In that case, once the top-up is finished, the Back to previous operation button appears: tap it to resume from where you left off.
If the operation fails
The message Operation failed will appear, with an invitation to check the balance and update the quote. Tap Retry. If the error persists, open a ticket with Support. No amount will be charged until the operation is successful.
The DeFi Wallet is a non-custodial service and does not fall within the scope of regulated services under the MiCA Regulation for which Young Platform is authorised. Young Platform's CASP authorisation does not cover or guarantee in any way the DeFi Wallet and the third-party protocols accessed through this feature: the user independently manages their own private keys and is solely responsible for the related operations and connected risks. Consult the DeFi Wallet Terms and Conditions for more information.