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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 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 or sending from 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 ETH. The ATM sends ETH on the Ethereum network. If your wallet is set to another network (e.g., a token network), your ETH balance will not appear correctly.

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. 
• Use the Supported Networks table below to confirm the correct network for your coin in Hong Kong.
• 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

⚠️ Stablecoins (USDT, USDC) and ERC-20 tokens are not supported in Hong Kong. Only native blockchain assets are available.

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