What is cross-chain deposit?
Think of blockchain as a ledger book. Attempting to make transactions from ledger book A to ledger book B can cause serious problems. Generally, you should avoid cross-chain transactions.
A cross-chain deposit happens when assets are sent from one cryptocurrency blockchain to another. As wallets for one blockchain do not necessarily support assets on another blockchain, cross-chain deposits may end up loss of funds. Here are some common examples of cross-chain transactions (which users should avoid):
- Sending ETC to ETH address
- Sending BTC to BCH, LTC address
- Sending ETH to Polygon address
- Sending Theta to Theta (ERC-20) address
- Sending ETH (ERC-20) to ETH (BEP-2), (BEP-20), or (TRC-20) address
(And Vice versa)
For more information on how to make successful blockchain transactions, please refer to the article below: