Frequently Asked Questions on Unsuccessful Withdrawals

 Trading FAQs    |      2021-05-14

Withdrawal Unsuccessful Frequently Asked Questions

1. What is a "network address"? Why does the system tell me, “The address is not valid. Please confirm with the recipient."?
An "address" is, in essence, a specific "location" on the blockchain to which coins can be sent in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to receive funds.
For example, a Bitcoin address will look something like the following: 1CKa7k7RtaV4TRRcnjciVndBS8hNG1G9ip
And an address on the Ethereum network might look like the following: 0x77dce4813eC15650e57E1b999c197aad00bEc1c2
If the system detects you input a wrong format, it will inform you of an “invalid address”. In this case, please check your recipient’s address and withdrawal network, and make sure that the information your input is correct.
Tips: It is highly recommended always to input address using the copy and paste function or scanning the QR code provided instead of entering manually. If you enter the wrong address, you may lose your funds.
2. What is Memo/Tag? Why it shows “The memo is not valid”?
A "Tag" or "Memo" is an additional address feature necessary for identifying a transaction recipient beyond a wallet address.
"The memo is not valid” indicates that the user has input the wrong memo. Please confirm with the recipient to ensure that your information is correct.
Examples of Memo:
XRPNumeric Only
EOSNumeric Only
BNBNumeric Only
ATOMNumeric Only
If you input the wrong address or wrong memo, your may lose your funds.
3. Why I get a "Network busy" error message? What can I do?
If you get a "network busy" error message, this means that the network is currently congested due to a high volume of use. Please try again later or select other networks. Your patience is much appreciated.
Related FAQ: What Can I Do When Withdrawal Is Suspended?