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Sending from an exchange? Choose the right network!

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When receiving assets on your Ledger account from the exchange, you may be given a choice of network for withdrawal. It is crucial to choose the correct network so you can see your assets on the account in Ledger Live.

Choosing correct network

On the withdrawal page on the exchange, you mainly need to follow the principle: choose the native network of the crypto you are withdrawing. Additionally, make sure you are withdrawing asset that is supported in Ledger Live.  

Example: you withdraw Ethereum (ETH) to your Ethereum account in Ledger Live. On the exchange, you can see these networks:  

Screenshot_2022-11-17_at_10.51.30.png

In order to be able to see your ETH on your Ethereum account in Ledger Live, you should choose Ethereum (ERC20) network. If you choose a different network, your ETH will go to the same address starting with 0x... but on a different network:

Blank_diagram.png

Already sent to the wrong network? 

There is still a way to recover your crypto from the wrong network. It all depends on factors like the network you used, the address you used, and whether this asset is supported by Ledger devices.

The recovery process includes a Ledger device, third-party wallet MetaMask, and Chainlist for adding different EVM networks to MetaMask.

General instruction for most cases would look like that: 

  1. Download and install the MetaMask extension on your computer browser.
  2. Create a new MetaMask wallet by following these instructions.
  3. Open MetaMask.
  4. Open the Ethereum app on your Ledger device by navigating to the Ethereum icon and pressing both buttons simultaneously.
  5. Connect your Ledger device to MetaMask using this tutorial in order to create a Ledger/Hardware ETH account in MetaMask.

    You should now be able to see your ETH address in your MetaMask Ledger account.
  6. Open the Chainlist website and connect with your MetaMask wallet.
    Chainlist.png
  7. Connect to your Ledger ETH account.
    Chainlist_2.png
  8. On Chainlist, you need to select the network you used for withdrawal and add it to MetaMask. Let's take for example Binance Smart Chain (BSC) network: CHAINLIST.GIF
  9. Go back to MetaMask. You should see it switched to a BSC network you chose on Chainlist and you should see your assets.
  10. If you can't see your coins or tokens, you might need to add them as custom coins/tokens in MetaMask using this tutorial. Contract data for assets can be found by searching on the explorer of the network, for example, see contract data of Binance-Peg ETH token on Binance Smart Chain here: BSC_ETH.png

Send your crypto back to Exchange from your account in MetaMask

Depending on which network you are in, you need to have some amount of native asset of the network in order to send tokens back to the exchange. Let's consider the example of Binance Smart Chain here and its native asset BNB:

  1. Send a small amount of BNB coins to your Ledger BSC account via the BSC network. The BNB will be used to pay for the transaction to send your ETH/ERC20 back to Binance.

  2. Using MetaMask and your Ledger device, deposit your ETH or ERC20 tokens back to your Binance account via the BSC network:

Send your coins back to your Ledger Ethereum account

  1. In your Binance account, go to Withdrawal. 
  2. Withdraw your ETH or ERC20 tokens to your Ledger Ethereum address via the ETH network:

Once you're done and the transaction has cleared, the coins should appear in Ledger Live.

Need help? 

If you need help with some steps, please request assistance from our support team.

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