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What is the cryptocurrency network?

Cryptocurrency network means the computer network that governs the transfers of the cryptocurrency.

One cryptocurrency can be supported on multiple networks. And one network can support multiple cryptocurrencies. For example, ETH is commonly used on its native network – Ethereum. However, ETH also exists on other networks like Polygon.

Different networks have different network fees and different time of execution. It’s very important to make sure that the selected network is the same as the network of the platform you are depositing/withdrawing funds to. If you select the wrong network, you will lose your funds.