In your belo wallet, you can receive BTC, ETH, USDC, USDT, or SOL from other crypto wallets through the different supported networks for each currency.
However, when it comes to USDC, there’s an important consideration: you can only deposit the native version of USDC for each supported network into your belo account.
What does “native USDC” mean?
Native USDC refers to the original token, whose address you can find in the “Deposit” section by selecting the currency and the network you want to use for your deposit.
Circle, the company behind USDC that holds the reserves for existing tokens, issues USDC on 15 crypto networks. These tokens, issued directly by Circle, are considered native USDC.
New applications in the decentralized ecosystem, however, have taken existing USDC on the Ethereum network and bridged it to other networks where USDC was not natively available.
By using a bridge, they enabled USDC to function on new networks under slightly modified names, such as USDC.e. These tokens were not created directly by Circle and are therefore not considered native.
belo wallet only accepts native USDC
Over time, Circle has released its USDC token on the major networks, which is why multiple versions of USDC often coexist.
It’s extremely important to pay attention when sending USDC to your belo wallet. You can only receive native USDC on each supported network. Sending a non-native version of the token will result in it not being credited to your account.
To make sure you’re sending the correct token, check the token address in the “Deposit” section by selecting USDC and choosing the network you want to use for your deposit.