âī¸How to Send Tokens
How to send tokens from Nova Wallet!
Last updated
How to send tokens from Nova Wallet!
Last updated
Being a user of the Polkadot ecosystem means that there are lots of different types of token standards that you should be familiar with.
The most common user mistake in the Polkadot ecosystem is sending tokens to an exchange from the incorrect chain. For example, if you send DOT tokens from the Statemint parachain to a centralized exchange (CEX), it is very unlikely that you will receive your DOT tokens on the exchange.
This is because the CEX has configured their wallet to only show you DOT tokens which have been received on the Polkadot relay chain. In reality, the CEX has indeed received your DOT tokens, and they will actually be in your account (on the Statemint parachain), but it will likely take you a long time to convince the CEX to investigate your issue.
So, please ensure you are sending tokens to the correct network.
For this reason, Nova Wallet has a built-in feature which only allows you to send tokens from a network to an account address configured for that network.
There are also token standards such as Moonbeam's XC-20 standard. It is important to note, that much like the previous example, if you send an XC-20 asset, such as XC-DOT to a CEX, you are unlikely to receive that token in your CEX account.
