Native vs smart contract deposits explained 

Not all crypto deposits work the same way. Some arrive instantly, while others risk being lost, and the difference comes down to whether you use a native transfer or a smart contract.

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Native vs smart contract deposits explained 

When you deposit native gas tokens (e.g., ETH on Ethereum or HYPE on HyperLiquid) into your bitcoin.com.au account, the way you send it matters.

  • If you send using the native ‘transfer’ function, your deposit will be automatically credited to your account.
  • Internal transfers or transfers using smart contracts may not automatically be credited and may be unrecoverable.

If you’re unsure, start with a small test deposit to your bitcoin.com.au deposit address first.

If your deposit isn’t credited to your account within 24 hours, or you can see on the blockchain explorer that your transfer is in the “Internal transfers” tab, please reach out to our support team.

What are native transfers?

A native transfer is the simplest way to send a gas token like ETH.

  • You send ETH directly from your wallet or another exchange to your bitcoin.com.au deposit address.
  • Recorded as a standard “transfer” transaction on the blockchain.
  • Since your transaction can be read as a standard transfer, it can be automatically detected and credited to your account.

How do smart contract deposits differ?

Some wallets, exchanges, and apps don’t send gas tokens like ETH as native transfers. Instead, they use another program (a smart contract) to perform the transfer. On-chain, because this deposit is not recorded as a standard transfer, it is not typically supported for automatic crediting to your account.

Examples include:

  • Withdrawing ETH from an exchange that batches transactions through a contract
  • Sending ETH via a multisig wallet (e.g. Gnosis Safe)
  • Bridging ETH to or from a Layer 2 network (e.g. Arbitrum, Optimism)
  • Using DeFi apps that wrap, swap, or lock ETH

How to check if your transfer will use a smart contract

Before sending, some wallets will show “Contract Interaction” or similar if the transfer goes through a smart contract.

Alternatively, you can test with a smaller deposit amount and review the transaction through a blockchain explorer (like Etherscan for ETH).

For example, on Etherscan:

  • Native transfers show up as a simple “Transfer” of ETH from one address to another.
  • Smart contract transfers may be labelled “Contract Interaction” or show the function name (e.g. “Swap”, “Deposit”) in the Transaction Action, and often have entries under the Internal Transactions tab.

Native transfer example

In the example above you can see under the `TRANSACTION ACTION` at the top, the transaction type is “Transfer”, and that there is a direct transfer of ETH from one address to another.

What about ERC-20 and SPL tokens?

There’s no such thing as a native transfer for ERC-20 tokens on Ethereum (USDT, USDC, LINK) and SPL tokens on Solana. Instead, every ERC-20 or SPL token can ONLY move between wallets through a smart contract. The good news is that bitcoin.com.au fully supports these transfers.

What should I do if my sending platform/wallet will only transfer using a smart contract?

If you have no choice, we recommend sending a test first. While we support many major smart contracts, there are a LOT out there, so always test first. If your test shows that the smart contract your platform/wallet uses isn’t supported by us, your best option is to first send it to an intermediary wallet that supports native transfers for sending tokens out.

Make sure you test the intermediary wallet as well to be sure!

Key takeaway

Deposit typeWhat happensWhat you should do
Native transferred gas tokensAuto-credited to your accountAlways use
ERC-20 / SPL tokensAuto-credited to your accountVerify the details of the contract address before sending
Smart contract-routed gas tokensMay not be auto-credited and may be unrecoverableAvoid sending via DeFi apps, bridges, batching services, or multisig wallets

Frequently asked questions

What is a native token?

The base currency of a blockchain (e.g. ETH on Ethereum, HYPE on HyperLiquid, AVAX on Avalanche, etc). Native tokens are built into the blockchain’s core protocol and are used to pay network (“gas”) fees, secure the network, and transfer value.

What is a smart contract transfer of a gas token?

This is when you send ETH, AVAX, or HYPE through another program (such as a DeFi protocol or batching system). Instead of appearing as a direct transfer to your deposit address, it shows up as an internal contract movement. These transfers may not be supported for automatic crediting and may in some cases be unrecoverable.

What is an ERC-20 or SPL token?

A token that’s built on top of a blockchain using a smart contract standard. Examples include BAT (an ERC-20 on Ethereum) and WIF (an SPL token on Solana). These tokens usually rely on the blockchain’s native token for transaction fees but operate under their own rules defined by the contract.

How do I deposit ERC-20 or SPL tokens?

Send them to the token-specific deposit address we provide in your account. These deposits are automatically credited. As always, test with a small amount first!

Where can I check supported tokens, networks, and contract addresses?

For supported tokens and networks, see our listed tokens and contract addresses. For cross-chain transfers, see selecting the right blockchain network.

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