What is a blockchain?
A blockchain is a digital record book copied across thousands of computers—it’s the underlying infrastructure that records and verifies every crypto transaction.
For crypto transfers, different cryptocurrencies use different blockchain networks, and some can travel across more than one.
Key things to remember before you transfer
Always match the blockchain network. The network you use to send your coin must be the exact same network Sharesies Crypto uses to receive that specific coin.
Double-check your wallet address. Copying and pasting the wallet address (rather than typing it manually) reduces the chance of error—the address must be accurate and current. Even a single wrong character means your crypto could be lost forever.
Transfers are irreversible. Once sent, a transfer can’t be undone, cancelled, or amended. Take your time and check every detail is accurate before confirming.
When in doubt, reach out. If you're ever unsure which blockchain network to use, contact the Sharesies Support Team before transferring your crypto.
Supported networks
Sharesies Crypto supports crypto transfers on the following networks (for respective coins).
Coin | Ticker | Blockchain network | Network type |
Bitcoin | BTC | Bitcoin network (BTC) | Native blockchain / mainnet |
Ethereum | ETH | Ethereum network
(ERC-20)
| Native blockchain / mainnet |
Solana | SOL | Solana network | Native blockchain / mainnet |
XRP | XRP | XRP Ledger | Native blockchain / mainnet |
Dogecoin | DOGE | Dogecoin network | Native blockchain / mainnet |
Polygon | POL | Polygon network | Native blockchain / mainnet |
Chainlink | LINK | Ethereum network (ERC-20) | Non-native blockchain / hosted token |
What is the mainnet?
Most major cryptocurrencies run on their own native blockchain—this is sometimes referred to as the mainnet (or Layer 1). It's the original network the coin was built for, and every transaction on it is recorded permanently and publicly.
When Sharesies Crypto shows ‘Native blockchain’ next to a network option, it means you're sending via that coin’s original, primary network.
If you're unsure which network to choose, check the table of supported networks above. The native blockchain (mainnet) is the most widely supported option. If you're still unsure, reach out to our customer wealth team, and we'll help you out.
What is a Layer 2 (second-layer) network?
A Layer 2 (L2) network sits on top of an existing blockchain. It processes transactions separately, then periodically records a summary back to the main blockchain. This generally results in faster transactions at lower cost, without changing the underlying blockchain itself.
What's the difference between a coin and a token?
A coin has its own dedicated blockchain, whereas a token is built on top of a coin’s blockchain and uses its infrastructure to operate. This matters for transfers because coins and tokens use different underlying networks—and network choice is crucial (see below).
Why does network choice matter so much?
Unlike a bank transfer, crypto transactions cannot be reversed or cancelled. If you send crypto on the wrong network, the funds may be permanently lost or require expensive technical intervention to try to retrieve.
For example, sending LINK via the BNB Smart Chain to an exchange or wallet that only accepts Ethereum (ERC-20) is a common mistake that can result in permanent loss. Always double-check two things are accurate before confirming a transfer:
the receiving address; and
the network.
Both must match exactly on both ends.
Sharesies Crypto is offered by Sharesies Crypto Limited.