Hello! As it was informed on this post in the Zcash community forums, all Binance Zcash deposit addresses will be converted to TEX addresses.
Update: On January 1, 2025, Binance will convert all Zcash deposit addresses on their platform to tex addresses. They began rolling out tex addresses in July, where new ZEC holders were assigned tex addresses, while existing holders continued to use t-addresses. The mix of some holders having tex addresses and others having t-addresses has caused some confusion for Zcash users.
What are TEX addresses?
As the ZIP-320 title defines it, TEX is “an Address Type to which funds can only be sent from Transparent Addresses”. You will be able to recognize them because they start with “tex…”.
In 2023, Binance decided they did not want to receive shielded funds because they could not return the funds to the originating address of the transaction with on-chain information. For more information on context and definitions please refer to the ZIP-320,
How to deposit funds to a Binance TEX address.
To send funds to a TEX address you will need a wallet that supports them. That means that it can recognize them as a valid recipient when you input them on your wallet's “send screen”. If your wallet does not then you need to transfer your funds to one that does. We will cover this in the following sections. If your wallet (or exchange) recognizes TEX addresses as valid recipients for ZEC, then you should follow the wallet’s workflow.
Getting a shielded wallet that can send funds to TEX addresses
In order to deposit to a TEX address you need to be able recognize such addresses as valid addresses. If your wallet of choice does not, don’t worry! That’s how it’s supposed to work.
It is assumed that wallets that don’t know how to deal with a TEX won’t abide by Binance’s requirements so it’s better not to use such wallets to interact with that exchange.
Wallets that DO support TEX addresses. (Alphabetically)
Send Funds to your wallet of choice (step 1).
Once you’ve downloaded one of the wallets listed below you should be ready to receive funds there and make a deposit to your Binance account following the applications’ workflow. You should notice that depending on where you are holding your funds, you will have to send to different addresses.
For example: If you are a Trust wallet user, you will have to send funds to the transparent address of your Zcash wallet. The same applies to other popular multi-coin wallets such as Exodus, or Centralized Exchanges like HTX or Coinbase.
Obtaining a transparent address from a shielded ZEC wallet
If you are an EDGE user, you can receive Transparent ZEC on your shielded wallet:
1. Go to the ZEC account
2. Tap the receive button
3. Scroll horizontally to the address that shows a Transparent address starting with “t1…”
Getting a transparent address on Ywallet:
- Scroll horizontally to the last QR code of the carousel. You should see that on the dot-shaped indicator
- You should see your transparent address on screen.
Getting a Transparent ZEC Address on Zashi:
- Tap the receive tab on the bottom of the screen
- The second address you see on screen is your transparent one.
Getting a Transparent ZEC Address on Zingo Mobile:
- Tap the receive tab on the bottom of the screen
- Then on the receive screen tap the “transparent”
- You should see your transparent address on screen.
Note: If you hold shielded funds, Edge, Zashi and Zingo will automatically unshield funds and send them to the TEX address of choice by chaining two transactions. Ywallet works proposes a different workflow and its developers have posted a special tutorial on how to deal with TEX addresses.
Make the deposit to the TEX address
If your wallet of choice is Edge, Zashi or Zingo you should just follow the send funds procedure on the app. Bear in mind that these apps make two separate transactions so fees will be a bit higher than your usual transaction, probably around twice as much, so expect to need a bit more funds to cover the fees.
Note: Edge, Zashi and Zingo will automatically unshield funds and send them to the TEX address of choice by chaining two transactions. Ywallet proposes a different workflow and its developers have posted a special tutorial on how to deal with TEX addresses.
Troubleshooting:
Important advice: You should always seek support through official channels of the wallet or exchanges that you use. NEVER (we really mean never) provide any passwords, seed phrases or private keys. Support representatives will not ask for any of that information. If you find yourself in a situation where that is the case, take a deep breath and a step back and leave the conversation. It does not matter if it seems you are speaking with the highest representative of that organization. Remember: Not your keys, not your coins.
I have already shared or saved transparent addresses from my Binance account for recurring deposits or other uses, what shall I do with them?
We advise you to refer to Binance’s technical support. As a rule of thumb, when in doub,t just request a new deposit address to Binance and use that newly generated one.
Example: If you receive payments in ZEC from regular customers and you’ve handed them a transparent address (t1..) they might send you payments that include shielded ZEC and Binance will hold your funds requiring a customer support procedure to reclaim them.
Withdrawing from Binance
There is no impact on withdrawals. You should be able to withdraw them using a transparent address. (See section “Obtaining a transparent address from a shielded ZEC wallet”).
The wallet/exchange I use does not recognize TEX addresses as valid recipients.
As a workaround you can download the wallets listed above and transfer your funds to that wallet first and then to the TEX Address generated by Binance.
Withdrawing from Binance
There is no impact on withdrawals. You should be able to withdraw them using a transparent address. (See section “Obtaining a transparent address from a shielded ZEC wallet”).