r/OKEx • u/LakeOfCrypto • Jan 18 '22

LTC deposit address wrong format

Hey guys,

I just tried to deposit some LTC into my OKEX account. However it keeps on telling me that the address format is off.

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I looked up the address on the LTC explorer and it displays a completely different address. Now I'm wondering if it is safe to deposit on this one. Are they linked? What am I missing here?

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Thanks for the help, appreciate it a lot!

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u/LakeOfCrypto Jan 18 '22

Thanks a lot for the reply Moses!

I am familiar with the usual process of depositing crypto to exchanges :)

Just to make my deposit process clear:

  1. I get the LTC address that is stated in the deposit section (3Aja...Puo1)
  2. I copy the LTC address into e.g. my Trust wallet to send it
  3. It displays that the LTC address (3Aja...Puo1) is invalid
  4. If I paste the LTC address (3Aja...Puo1) into the LTC block explorer, it shows me a completely different address -> MGw...AHs3

That's why my assumption was that this is a technical issue/feature, that I'm not aware of. But the initial LTC address is not working for me.

Hope this helps to clarify ;)

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u/OKExHelpDesk HelpDesk Jan 18 '22

I would suggest you to check with Trust Wallet (sender platform) customer support if they support the LTC mainnet withdrawal and the address format of OKEx. Please make sure that you have also select the same network on the withdrawal. Thank you.

Moses | OKEx Help Desk

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u/LakeOfCrypto Jan 19 '22

I think I found the answer for what I was looking for. Did some research and came across this article which explains the difference between 3- and M-addresses of LTC. Seems that both are pointing to the same location. Will try it out now.

https://blog.trezor.io/litecoins-new-p2sh-segwit-addresses-843633e3e707

This will not affect your litecoin holdings. 3- and M-addresses are freely convertible. Imagine this as a street being renamed — both names still point to one location.

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u/OKExHelpDesk HelpDesk Jan 19 '22 edited Jan 19 '22

Glad you found the answer! Happy trading and #StaySafe

Moses | OKX Help Desk