common-close-0
BYDFi
Trade wherever you are!

What is the process to enter microdeposit amounts for cryptocurrencies?

avatarHoney jeeDec 19, 2021 · 3 years ago1 answers

Can you explain the step-by-step process of entering microdeposit amounts for cryptocurrencies? I'm new to this and would like to understand how it works.

What is the process to enter microdeposit amounts for cryptocurrencies?

1 answers

  • avatarDec 19, 2021 · 3 years ago
    To enter microdeposit amounts for cryptocurrencies, you'll need to follow a few steps. First, log in to your cryptocurrency exchange account. Then, locate the deposit section and choose the microdeposits option. You'll receive a unique deposit address. Transfer a small amount of cryptocurrency from your external wallet to this address. The exchange will verify the microdeposit and associate it with your account. This process is often used to confirm the ownership of external wallets or bank accounts. Remember that each exchange may have its own specific instructions, so it's essential to consult their guidelines for accurate information.