Automation Flare deposits

Following the automation of Polkadot deposits, a node for Flare was also launched on Feb. 6. This means that from now on, customers can automatically deposit and withdraw FLR without the intervention of an employee.

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How does depositing FLR work?

When depositing and withdrawing FLR, an address is generated on Flare's blockchain. This is where you can send FLR directly from another exchange. Your FLR balance is then updated almost immediately in your Bitcoin Master/BCM account.

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If you want to deposit FLR from another exchange or wallet to Bitcoin Master, you can do so from your wallets.

1. Click on 'My account' > 'Portfolio'
2. Find the coin (FLR) and click deposit.
3. You will then see a window with your personal wallet address for FLR. From the other exchange you can send FLR to this address after which it will also be visible in your account.

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What is Flare?

Flare is a blockchain platform aimed at bringing smart contracts to the world of XRP. Flare is compatible with the Ethereum Virtual Machine (EVM), allowing developers to write smart contracts on Flare using the same programming languages and tools as for Ethereum. The platform uses its own native token (FLR) used for a variety of purposes, including gas fees for executing smart contracts, staking and governance. The goal of Flare is to make it easier for XRP holders to participate in decentralized finance (DeFi) and other blockchain-based applications.