Supported Networks

Many cryptocurrencies can exist on more than one blockchain network. When sending or receiving cryptocurrency through Nova, it is important to select the correct network for your transaction.

Using an incorrect or unsupported network may prevent your funds from reaching their destination and could result in permanent loss.

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What Is a Blockchain Network?

A blockchain network is the infrastructure that processes and records cryptocurrency transactions.

Some cryptocurrencies are available on multiple networks. For example, the same cryptocurrency may be supported on Ethereum, Polygon, BNB Smart Chain, or Tron.

Although the cryptocurrency may have the same name, transactions can only be completed successfully when both the sender and recipient use the same supported network.

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Supported Networks

The networks available for each cryptocurrency are displayed within your Nova account.

Depending on the cryptocurrency, supported networks may include:

• Ethereum (ERC-20)
• Polygon
• BNB Smart Chain (BEP-20)
• Tron (TRC-20)

The networks available to you may vary depending on the selected cryptocurrency and your account.

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Selecting the Correct Network

Before sending or receiving cryptocurrency:

1. Choose the cryptocurrency.
2. Select the blockchain network.
3. Confirm that the sender and recipient are using the same network.
4. Verify that the destination wallet supports the selected network.

Always review these details before confirming a transaction.

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Network Fees

Most blockchain networks charge a transaction fee for processing transfers.

Network fees are determined by the blockchain itself and may vary based on:

• Network congestion
• The cryptocurrency being transferred
• Current blockchain conditions

Any applicable fees are displayed before you confirm a transaction.

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Network Confirmations

After a transaction is submitted, it must be confirmed by the blockchain before it is completed.

Confirmation times vary depending on the network and current activity.

During this period, the transaction may appear as pending.

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Common Issues

The most common issues when transferring cryptocurrency include:

• Selecting the wrong blockchain network
• Sending an unsupported cryptocurrency
• Entering an incorrect wallet address
• Sending funds to a wallet that does not support the selected network

Always verify the transaction details before confirming.

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Frequently Asked Questions

Why do I have to choose a network?

Some cryptocurrencies operate on multiple blockchain networks. Selecting the correct network ensures your transaction is routed correctly.

What happens if I choose the wrong network?

Transactions sent over an unsupported or incorrect network may not be recoverable. Always verify the selected network before sending funds.

Are network fees the same for every blockchain?

No. Network fees vary depending on the blockchain and current network activity.

Where can I see which networks are supported?

The supported networks for each cryptocurrency are displayed when you initiate a deposit or withdrawal within your Nova account.

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Summary

Blockchain networks are responsible for processing cryptocurrency transactions. Before sending or receiving digital assets, always verify that both the cryptocurrency and blockchain network match between the sender and recipient to help ensure your transaction is completed successfully.