Receiving crypto from a friend or client into your exchange account without errors

Receiving crypto from another person is increasingly common, whether it is a payment from a client, money from relatives abroad or a friend settling a debt. Unlike sending, where you check every detail yourself, receiving means relying on someone else to enter your address correctly. If they choose an unsupported network or omit a memo, the deposit may not credit to your account on Binance, OKX, Bybit or Bitget, and sorting it out can take time. Most problems come from incomplete instructions rather than carelessness. This guide explains how to give a sender clear deposit details, how to confirm the payment once it arrives and how to avoid the scams that target people waiting for incoming funds.

Share complete deposit instructions

Open the deposit screen on your exchange, choose the asset and the network you want to receive on, and copy the address. Send the sender the asset name, the exact network name and the address together in one message, plus the memo or tag if the screen shows one. Ask them to confirm that their wallet or platform supports that network. If they are new to crypto, suggest they send a small test amount first. Clear written instructions prevent most mistakes before they happen.

Confirm the address through a second channel

Messages can be intercepted or altered, and malicious software sometimes changes copied addresses. For larger amounts, confirm the first and last characters of the address with the sender through a different channel, such as a phone call. If you share a QR code, make sure it was generated from the official exchange app on your own phone. Never post your deposit address publicly in a group chat where someone could edit a screenshot and repost it with a different address.

Verify the payment yourself

When the sender says the transfer is done, ask for the transaction ID. Look it up in the relevant block explorer to see whether it is confirmed and sent to your address. Then check the deposit history in your exchange app. Do not rely on screenshots alone, which are easy to fake. If you are selling goods or services for crypto, wait until the deposit is credited in your account before handing anything over. Patience here protects you from one of the most common forms of fraud.

Beware of overpayment and refund tricks

A frequent scam involves a sender claiming to have paid too much by mistake and asking you to refund the difference, often urgently. In reality, the original payment may never have arrived or may be reversed by other means. Only refund based on what has actually been credited in your account. Ignore messages from people offering to speed up a pending deposit for a fee. If a deposit is confirmed on chain but missing from your account, contact the exchange through official in-app support with the transaction ID.

Risk boundary: Kenya Crypto Guide

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Scenario checkpoint

• Send the sender the asset, exact network name, address and any memo together in one written message.
• Confirm the address characters through a second channel such as a phone call for larger amounts.
• Check the transaction ID in a block explorer and your deposit history instead of trusting screenshots.
• Refuse urgent refund requests unless the full amount has actually been credited in your account.