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How to receive cryptocurrencies?
You can receive cryptocurrencies using your own cryptocurrency addresses. When a transfer is made to the address associated with your Coinmotion account, you will immediately receive an email notification about the incoming cryptocurrency transfer. The notification will indicate that the funds are available to you after the transfer receives a certain number of confirmations from the blockchain. You don't need to do anything to get these confirmations.
Creating a cryptocurrency address:
- Go to the "Transfers" page – "Receive" – "Cryptocurrencies."
- Choose the currency.
- Optionally, give a name to the address so you can distinguish between addresses.
- Click "Create a new address."
- At the bottom of the page, you can see all the addresses you have created.
Even though you create new addresses, old addresses will continue to work. Addresses cannot be deleted.
Special notes for XLM and XRP addresses:
XLM and XRP addresses are a bit different from other cryptocurrency addresses because they consist of two parts: the actual address, which is a long character string, and a tag (memo id or destination tag).
Memo id and destination tag usually have their own fields. Coinmotion's XLM and XRP addresses are provided both as separate parts and as a whole, with the tag at the end in the form "?memoId=X" or "?dt=X." Here, X is the tag, and the part before the question mark is the actual address. Therefore, always make sure to input the address and destination tag in the correct fields.
Important notes for receiving cryptocurrency transfers:
Cryptocurrency transfers are always irreversible. Therefore, before confirming a transfer, ensure that the receiving address and the selected blockchain/network are correct.
Receiving cryptocurrency transfers does not cost you anything. If someone asks you to make a money transfer so you can receive a cryptocurrency transfer, it is most likely a scam.