Definition
In a crypto exchange context, a deposit usually sends supported assets from an external wallet or another platform to the receiving account. A fiat deposit instead uses a supported payment channel. Neither necessarily involves buying or exchanging the asset.
How It Works
For an on-chain deposit, the asset, network, destination address, and required memo or tag must match the receiving instructions. The service detects the transfer and credits the account after its confirmation and review requirements are met. A transaction visible on a block explorer can therefore precede account crediting.
Key Considerations
An identical-looking address does not prove support for every network. Unsupported assets, missing tags, minimum amounts, or maintenance can prevent normal crediting. Verify current instructions and retain the transaction ID. Mistaken transfers may be difficult or impossible to recover; a successful blockchain transfer alone does not guarantee recoverability.