1xBet USDT Deposit from Sri Lanka: Networks, Steps and Risks

What the Central Bank of Sri Lanka Says About Crypto

• In its 29 March 2023 public notice the Central Bank of Sri Lanka (CBSL) made it clear that cryptocurrencies are not legal tender in Sri Lanka.
• The CBSL has not licensed any crypto exchange or crypto scheme so none of them operate under its licence.
• There are no regulatory safeguards for users of crypto currency so a lost or misdirected transfer is not going to be protected in any way.
• Under directions issued pursuant to the Foreign Exchange Act, local debit and credit cards are not to be used for crypto payments.

These are the points from the CBSL's own notice and the position is subject to change so be sure to check the CBSL website for the most up to date guidance prior to acting.

TRC20, BEP20 or ERC20: Choosing the Network

USDT is available on a number of blockchain networks and the network you select in the cashier must be the same as the one your own wallet is using or your funds will be lost. The three networks listed below vary in terms of cost, speed and address format and 1xBet may not accept all of them. You should therefore look at the networks that the cashier actually lists for you before making your selection. The fees and confirmation times are all given in relative terms as they will vary depending on the level of network activity.

BEP20 and ERC20 addresses are the same as they both start with 0x so it's the network label that matters. You must always check the network label in the cashier and in your wallet before you send.

How to Deposit USDT on 1xBet

1. Open deposit in the cashier and select USDT from the list of methods (if it's available for your account).
2. Select the network (ensuring it's the same one your wallet will be using to send the payment).
3. Copy the deposit address using the copy button and never retype it by hand as a single incorrect character can result in the funds going to the wrong address.
4. Send the payment from your own wallet (amount of at least LKR 310 (approx 1 USDT) plus network fee).
5. Just wait for the network confirmations (1 on TRC20 and BEP20, up to 12 on ERC20) before you go expecting the deposit to show up.
6. Check your 1xBet balance and keep the transaction hash from your wallet until the funds have been credited.

If it's your first time then send a small test amount first to confirm the address and network are correct before you send the full amount.

Withdrawing USDT to Your Own Wallet

Verification may be required prior to your first crypto payout so if you haven't done so already you'll need to complete the steps on the verification page.

1. Open the cashier, do a withdrawal and select USDT.
2. Select the same network that your wallet uses to receive the USDT as the payout may not get through if it's sent on a different network.
3. Paste your own wallet address and then re-check the first and last characters against what's shown in your wallet.
4. Confirm the request and save the transaction hash (this allows you to track the payout and gives support a reference point if at any point you need to get assistance).

The standard time for a USDT withdrawal is up to 15 minutes and you can compare it to the other methods on the withdrawal time page.