Key takeaways
- The address change will unify the Ethereum addresses for Bitso’s users.
- You’ll be able to receive different ERC20 and EVM-compatible tokens available at Bitso using one single address.
- The withdrawals won’t be paused during the migration process.
- Your funds won’t be impacted with the change.
- Once the change is made, you’ll just need to update the address in the allowlist of other exchanges, DApps, and protocols to keep receiving deposits from them.
- The address change will start on February 20th 2023.
The Address Change
On February 20th, 2023, Bitso will start a process for unifying all Ethereum addresses for depositing ETH, ERC-20 tokens and EVM compatible networks. This change means that, from then on, you’ll be able to use one single crypto address to receive tokens from all protocols, dapps, and exchanges that are compatible with EVM and listed at Bitso.
If you’re not familiar with the concept of crypto address, and EVM-compatible address, here are some articles from our Help Center from where you can learn more:
- What is an ERC20 token?
- What is a crypto address and why do I need one?
- What is an EVM-compatible deposit address?
Why are the addresses changing?
By migrating multiple addresses to a single one, we’ll be able to provide a simpler, faster and safer experience for within Bitso
As the leading crypto company in Latam, we are always searching to elevate your experience to a higher level, and implement cutting-edge technologies seamlessly.
What will change for you
Your experience with our services will continue the same. Nothing will change there. The only change is for deposits related to ETH or ERC20 tokens into your wallet, you’ll have to use the new address with which you’ll be provided to do deposits via blockchain networks from now on.
The second change is that you’ll have to update this new address in the allowlists of the exchanges, dapps, and other wallets that you use, so whenever you send tokens to Bitso they’ll be deposited in the correct address.
Your old address is planned to be deactivated in the next few months. You’ll get notified in your app when the deactivation will take place, so you don’t need to worry right now. It’s just important that, as soon as you receive the new address, you update your allowlists right away.
How to learn more about the migration
We’ve prepared a set of articles explaining all the details you may want to know prior to the migration. You can access them directly in help.bitso.com. Or, if you prefer, here is a list of the frequently asked questions:
- Where can I find my EVM-compatible deposit addresses?
- Will withdrawals stop during the deposit address migration?
- I’ve deposited in the old address by mistake, what do I do?
What to do next
If you don’t have any balance in ETH or ERC20 tokens, then this migration won’t impact you. But if you do, here is what you can do next:
- Continue using the app normally until you receive a notification about the migration.
- When you receive the notification in the app that your new ETH/ERC-20 address is available, get it and update all the exchanges, wallets, DApps or APIs that you use.
