Blockchain networks explained
Every crypto transfer happens on a blockchain network. The sending wallet and the receiving wallet must use the same network, or the funds may be lost.
What is a blockchain network?
A blockchain network is the system of computers that checks, processes and records crypto transactions. Each network:
- validates transactions;
- groups them into blocks;
- records them permanently on its ledger.
Different crypto-assets run on different networks. Bitcoin (BTC) runs on the Bitcoin network and Cardano (ADA) on the Cardano network. Some crypto-assets are tokens that run on another asset's network: Chainlink (LINK) and USDC are ERC-20 tokens on the Ethereum network.
For the crypto-assets your crypto wallet supports and the network each one uses, see Supported crypto-assets, networks and minimum withdrawals.
Why the right network matters
When you send crypto, the network the sender uses must match the network the receiving wallet accepts. If the wrong network is used:
- the funds may not arrive in the receiving wallet;
- the transfer can't be reversed;
- the funds may be lost permanently.
The same address format can exist on more than one network, so an address that looks right is not proof that the network is right. Always check both the asset and the network before you confirm.
How the network affects your transfer
Speed
Each network adds new blocks at its own pace. Typical block times are:
| Network | Typical time per block |
|---|---|
| Bitcoin | about 10 minutes |
| Litecoin | about 2.5 minutes |
| Ethereum (also LINK and USDC) | about 12 seconds |
| Cardano | about 20 seconds |
| Stellar | about 5 seconds |
| XRP Ledger | about 3 to 5 seconds |
| Solana | under 1 second |
A transfer usually needs more than one block before it counts as confirmed, and a busy network can be slower. Learn more in TXID and blockchain confirmations: track a crypto transfer.
Network fees
Every blockchain transfer has a network fee, which goes to the network's validators or miners, not to Safe2transact. Network fees depend on how busy the network is and on the size of the transaction, so they change over time. For Safe2transact's own fees, see Pricing.
Before you send crypto
- Check that the crypto-asset is supported by your crypto wallet.
- Check that the network is the one listed for that asset.
- Copy and paste the full address, then compare the first and last characters.
- If you're unsure, send a small amount first.
Please note: once a transfer is sent to the blockchain, it can't be reversed. If you think you sent crypto on the wrong network, see Unsupported crypto deposits and contact support.
Crypto-asset services are provided by BitGo Europe GmbH, a crypto-asset service provider authorised under the Markets in Crypto-Assets Regulation (MiCA). Safe2transact does not provide crypto-asset services. Crypto-assets are volatile: their value can go down as well as up, you may lose part or all of the amount you buy, and they are not covered by deposit guarantee or investor compensation schemes.
