Overview:
2018 was a huge milestone for crypto, before it crypto wasn't known to the future, it was only known among forums and private groups.
By the end of 2017 crypto gained a huge exposure from social media and TV news started to cover it with the pump of Bitcoin and all of the alt coins.
With more exposure, comes more demand, and more creativity.. Like every new sector developers tried to compete with the existing products on the market and everyone was looking to invent the new thing.
Something was clear, the blockchain wasn't united, every chain works independently of the other, so a connection was needed, and multi chain was born.
What is multi chain and why?
Multi chain is simply the existence of 1 coin or token on many different chains (blockchain / Network).
For example SHIB is a token that was created on the Ethereum network, but by using bridges technology, SHIB also exists now on the BSC Network. This allowed the same token to have exposure to a bigger audience, and also allowed crypto enthusiastic to avoid the high fees of transaction of Ethereum for example, and buy their favorite crypto on different, cheaper chains.
Why Chips.gg allows multi chain?
Cheaper Fees
Multi chain simply gives our players more options to deposit and withdraw crypto into their account.
Some players might care for deposit fees, so they look for a cheaper alternative. USDT is a great example, we support it on Ethereum and Tron network, while the fees for one transaction on Ethereum can be 10$ or more, players can deposit the same amount of USDT on the Tron network and pay 1$ only.
Convenience
Sometimes the fees may not be the reason, lets say for example you are a Coinbase user and you have bought SHIB on Coinbase and you wish to deposit it into your account at Chips.gg, even if deposits on BSC are cheaper, Coinbase doesn't support BSC they only support SHIB ERC20, which is SHIB on the Ethereum Network. Now in this case you either have to make a huge loop to find a way to bridge your SHIB ETH into SHIB BSC or simply deposit on Chips.gg by selecting SHIB Ethereum.
This made it much easier for our players to deposit crypto of their choice on the blockchain of their choice, or in such cases on blockchains of their ONLY choice.
Onboarding more audience
The same way people are fan of a soccer club and not the other, they like this player over that, or they cheer for this F1 driver over his rival, it is the same thing in crypto.
People gets emotionally attached to their investment, or to a certain blockchain over another and they would not try a rival blockchain even if it's better or cheaper, so it is important for us to give our players the option to use the blockchain their like to deposit into Chips.gg.
How to avoid issues during transaction?
This is very simple, consider chains as electricity voltages, 110v and 220v.
If you have a plug that is written on it 110v, and a socket that is unknown, the logical thing is to figure out first if the socket is 110v or 220v, because the rule is always 110v plugs goes into 110v sockets, and 220v plugs goes into 220v sockets. And if you mix the two then something bad will happen.
In our crypto case the "bad" that will happen will be the loss of your funds.
To Summarize
If you wish to deposit a token or a coin you need to know two important things:
I am depositing on which chain/network?
I am withdrawing on which chain/network?
So if you want to deposit on Chips.gg you need to know WHICH chain this deposit should be on? (And we provide that in the CHAIN section after you select the coin / token )
Now that you know on which chain the deposit must be, go to your wallet or exchange and check on which chain the withdraw is for the coin / token you selected.
If you can not find anywhere the chain the withdraw will be on, then ask the support of the exchange, or research online based on your wallet name and figure out which chain they use.
No matter what, NEVER deposit randomly without knowing the chain unless you are ok with the potential of losing your funds. And tests can always be small amounts, something you won't feel bad for if you screwed up.
Contact our support agents anytime if you have a question about a deposit or a withdraw, we are here to assist you!