Deposit from Ethereum to Peanut
Send USDC or USDT on Ethereum. Free deposits from Peanut. L2 networks offer lower gas.
How to Deposit from Ethereum to Peanut
You can deposit USDC or USDT on Ethereum mainnet to your Peanut account. No fees from Peanut, no KYC required, and no minimum deposit. However, Ethereum has the highest sender-side gas fees of any supported network. If you have a choice, Layer 2 networks like Arbitrum, Base, or Polygon offer the same experience with dramatically lower gas fees.
That said, if your funds are already on Ethereum mainnet and you do not want to bridge them, depositing directly on Ethereum works perfectly. Your balance will be available in under 5 minutes.
Once your deposit lands, your balance is held in digital dollars. From there you can pay at over a million merchants in Argentina, send Pix in Brazil, transfer money to anyone, or withdraw to any bank account in 40+ countries.
Before You Start
Info
Make sure you have the following before initiating an Ethereum deposit:
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A Peanut account. No identity verification required for deposits.
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USDC or USDT on Ethereum mainnet. These must be ERC-20 tokens on Ethereum layer 1 — not on a Layer 2 like Arbitrum or Base.
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Enough ETH on Ethereum mainnet to cover gas. Gas fees for USDC/USDT transfers on Ethereum typically range from $2-$20+ depending on network congestion. Check current gas prices before sending.
Step-by-Step: Deposit from Ethereum
- 1
Open the Peanut app
Tap "Deposit" from your home screen to reach the deposit options.
- 2
Select Ethereum
Choose Ethereum as the network. The app displays your EVM deposit address (0x format) — this is the same address used across Ethereum, Arbitrum, Base, Polygon, and Avalanche.
- 3
Choose your stablecoin
Select USDC or USDT. Both are accepted on Ethereum.
- 4
Copy the deposit address
Copy the deposit address exactly as shown. This is your personal reusable address.
- 5
Send from your wallet or exchange
Open your wallet or exchange, make sure you select "Ethereum" or "ERC-20" as the network (not an L2), paste the Peanut deposit address, enter the amount, and confirm the transaction.
- 6
Wait for confirmation
Your balance updates automatically once the transaction confirms on-chain — typically under 5 minutes, though Ethereum confirmations can take longer than L2 networks.
Confirmation Times
Ethereum deposits are reliable but slower than Layer 2 networks:
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Typical confirmation: 1-5 minutes. Ethereum produces blocks every 12 seconds. Most deposits appear in your Peanut balance within a few minutes after sufficient confirmations.
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During high congestion: up to 10 minutes. When the Ethereum network is congested, transactions may take longer to be included in a block, especially if you set a lower gas price.
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Available 24/7/365. No business day restrictions.
If your deposit does not appear within 10 minutes, check the transaction on Etherscan. If confirmed on-chain but not in Peanut, contact support with the transaction hash.
Fees
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Peanut deposit fee: free. No fees from Peanut. Gas fees on the Peanut side are covered by Peanut.
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Sender-side gas fee: $2-$20+. Ethereum mainnet gas fees are significantly higher than any L2 network. The exact fee depends on network congestion at the time of your transaction. Gas is paid in ETH.
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How to save on gas. If your funds are on an exchange, check if the exchange supports withdrawals on Arbitrum, Base, or Polygon — those networks have gas fees under $0.01. If your funds are already in an Ethereum wallet, you can bridge to an L2 first, but this adds an extra step and its own gas cost.
For a complete fee overview, visit the pricing page.
Supported Stablecoins on Ethereum
| Token | What happens on deposit |
|---|---|
| USDC | Credited at best available market rate (approximately 1:1) |
| USDT | Auto-converted to USDC at market rate, no fee |
Both are ERC-20 tokens on Ethereum mainnet. Peanut does not accept ETH, wrapped BTC, or any other tokens. Unsupported tokens sent to the deposit address will not be credited and may not be recoverable.
