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What are the 5 common users’ mistakes during the deposit process?

What are the 5 common users’ mistakes during the deposit process?

21 Nov 2022
What are the 5 common users' mistakes during the deposit

According to statistics from our Support team, about 30% of requests to P2B support are issues with deposits. Nobody is insured from making mistakes or being oblivious to details, moreover, it commonly leads to losing crypto. 

In this article, we have collected the most common deposit problems that our users address to us and the ways to prevent and solve these issues. Our hints will enhance your user experience on our exchange. 

1. Wrong smart contract

Before making a deposit, firstly, you should check the availability of the desired coin or token on the exchange. The crypto market has a wide variety of cryptocurrencies with similar tickers. So you can be easily confused by another ticker that results in the wrong deposit on the P2B exchange. 

The second deposit issue is a token rebranding and the smart contracts’ changes. Saved deposit templates can play a bad joke on you if the smart contract is changed. For example, you are comfortable with using autofill data, but you were not informed about the changes in the token’s details. Thus, such a deposit won’t meet your expectations. 

Wrong smart contract adress

Our Support team knows how to resolve such an issue in the shortest terms. Contact our support using one of the following methods: message us via Telegram, send an email, press the Submit request button, or via the Support bot. 

2. Wrong network or deposit address

The deposit process on the P2B exchange includes only five simple steps that you can read in our guide. Although it seems easy, you can unintentionally choose the wrong network or copy an incorrect address. 

Let’s say you need to deposit Bitcoins in the ERC20 network. Unfortunately, something goes wrong, and you select another network. In this situation, you may lose your crypto without an opportunity to return it.

Wrong network or address

3. Minimum deposit amount

The correct network and address in your deposit request may not cause a successful result. You should consider a minimum deposit amount for a particular currency. If a user deposits less than the minimal amount, it will lead to money loss. 

Therefore, when the minimum deposit amount is ten conventional units, but you sent seven instead—you will miss your crypto. 

Mnimum deposit amount

So please, pay attention to the notifications during the deposit process to prevent such cases.

4. Memo coins

Some crypto require to specify a memo or a destination tag during the deposit process. How to use it to prevent problems with your deposits?

Memo coin

A memo (destination tag) is an additional address needed to identify a transaction recipient beyond a wallet address. With this information, crypto is sent directly to your account for a provided transaction.

Thus, we need to specify both a memo and an address to deposit some crypto successfully.

5. Coin under maintenance 

Maintenance on the P2B exchange restricts some trading features, including a crypto deposit. Technically, you can not copy the address or see any additional information; instead, you can get a notification about maintenance limitations in your P2B account. 

Of course, there are exceptionsyou still may use autofill data to make a deposit even if it is unavailable. We do not recommend users deposit a particular crypto that is under maintenance. Be sure these actions will lead to crypto losses. 

Coin maintenance 

The P2B exchange has the following official sources for announcements: 

We publish posts about new listings or IEO/IDO announcements, exchange updates, and maintenance news. Members in official groups are part of our crypto community, so they always get valuable news first. 

Join our crypto community to keep on track with the P2B updates and take advantage of important information about your favorite crypto!

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