Send your cryptos via your preferred blockchain, to and from Young Platform with the Multinetwork
For some time now, many people in the community have been asking us to introduce the possibility of withdrawing and depositing crypto via different networks, such as Layer-2s. Here’s what it means and the perks of the Multinetwork feature!
What are networks?
During your journey in the crypto market, you might want to use a wallet or a DeFi application.
To add cryptocurrencies to these wallets and use these apps, however, you will have to go through an exchange to convert euros into crypto.
Or, at some point, you might want to transfer the tokens you got from these applications to Young Platform, so you can convert them, or keep them to simplify your funds management.
To transfer crypto from Young Platform to other crypto applications and vice versa, you’ll go through the network of a blockchain.
And here is the heart of the matter: which blockchain to use?
Each cryptocurrency, in fact, is supported by different blockchains (and networks): BTC can mainly be transferred via the Bitcoin network, ETH via Ethereum and so on.
Over time, however, several increasingly fast and convenient blockchains have emerged, especially for transferring Ethereum’s native cryptocurrencies. Layer-2s such as Arbitrum, Optimism and Polygon have allowed ETH and all ERC-20 tokens to circulate in a scalable and efficient manner.
Therefore, in many crypto applications you will find the possibility of using different blockchain networks. Now you can do this on Young Platform too!
Which new networks are supported?
In this first round, the new networks only concern ETH, USDC and USDT, the most widely used cryptos in DeFi. New ones will be added in the future.
Here are the new networks supported for withdrawals and deposits:
ETH
- Arbitrum
- Optimism
- BSC
USDT
- Polygon
- Tron
- Arbitrum
- Optimism
- BSC
USDC
- Polygon
- Arbitrum
- Optimism
The complete list of networks can be found on the Prices and Fees page, while guides on how to withdraw and deposit are available on our Support Portal.
Take advantage of the Multinetwork to transfer your cryptos in the fastest and cheapest way!
Warning: cryptocurrency transfers sent on the wrong network, or to the wrong wallet, or without a memo/tag may not be recoverable.
