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What Is a Cryptocurrency Network?

Every cryptocurrency runs on a specific blockchain network. Think of it like a postal system - if you want your package to arrive, you must use the right delivery service for the right destination. The same goes for crypto: each coin or token must be sent and received on the correct network, or the funds may not arrive.

When you buy or sell cryptocurrency at a Localcoin ATM, the transaction is processed on a specific blockchain network depending on the coin you selected. If the wallet you are sending to (when buying) or sending from (when selling) is set to a different network, the funds may not appear - even if the wallet address looks correct.

When Buying Cryptocurrency

When you purchase crypto at a Localcoin ATM, the ATM sends your coins to the wallet address you scanned. If your wallet is set to receive on a different network than the one Localcoin uses, the funds may not show up in your balance - even though they were successfully sent on the blockchain.

Example: You buy USDT. Localcoin sends it on Ethereum (ERC-20). Your wallet is set to TRON (TRC-20). The transfer confirms on Ethereum, but your wallet won’t show it because it’s on a different network.

When Selling Cryptocurrency

When you sell crypto at a Localcoin ATM or through our online sell service, you send your coins to a Localcoin deposit address. If you send the funds on the wrong network, Localcoin’s system may not detect the payment, and the transaction will not be processed.

Example: You sell USDT and receive an Ethereum (ERC-20) deposit address. You accidentally send on TRON. Localcoin will not receive it.

Why Do Wrong Network Transfers Happen?

• Some wallets and exchanges default to a different network than the one Localcoin supports. For example, many exchanges default to BEP-20 (BNB Smart Chain), which is not supported for most tokens.
• Different networks can share the same-looking address format. Ethereum and other EVM-compatible networks can start with 0x…, which can be misleading.
• It’s easy to miss network selection when sending from a wallet or exchange.

What Happens If I Sent on the Wrong Network?

Cryptocurrency transactions are irreversible. Once a transaction is confirmed on a network, it cannot be reversed, cancelled, or redirected - by Localcoin or anyone else.

If you believe you sent or received funds on the wrong network, contact your wallet provider or exchange. Some providers may be able to help you access funds that arrived on an unsupported network, depending on their platform’s capabilities.

Localcoin cannot recover or redirect funds sent on an incorrect network.

Tips to Avoid Wrong Network Transfers

• Always check the network before sending. When buying, set your wallet to receive on the correct network. When selling, send from the correct network.
• Use the Supported Networks table below to confirm the correct network for your coin in New Zealand.
• Don’t assume the address format means it’s the right network. 0x… addresses can exist on multiple, separate networks.
• Start with a small test transaction before sending larger amounts.
• Contact your wallet provider if you are unsure which network your wallet is using.

Supported Networks 

⚠️ ERC-20 tokens (USDT, USDC ) must only be sent on the Ethereum network. Do not send them on BNB Smart Chain, Polygon, or any other network.

⚠️ TRON-based tokens are not supported in New Zealand. Do not send USDT on the TRON network.

Need help? Contact our Support Team