Hi Can someone advise on two questions please?
What is the best way to transfer LINK from trust wallet to Binance Wallet. When I transferred it from Binance wallet it was not a hazzle at all. Some LNKs were charged to fulfill the transaction. But now I am trying to swap to another currency like BNB - only pair I see is ETH. Am I doing something wrong here?
The reason I am swapping is because I am unable to sell from within the wallet - as I said not much options. I am now wondering how restrictive this wallet is.
If I transfer crypto using ETH network once - is it okay to use another network (like BEP20) while making another transfer to a different location? For example, if I need to transfer Ethereum from Trust wallet.
For #1, based on your context, the LINK that you have right now is an ERC20 token. You cannot convert it to BNB since they are running on different blockchains. The only way to convert it to other tokens aside from ETH is to use the DApp browser then use AMMs like Uniswap, Paraswap, 1inch, SushiSwap, etc.
#2, please be careful and triple check the network and crypto that you are transacting. Sending ETH to a BEP20 address and vice versa may result to loss of funds. The Ethereum and Binance Smart Chain are two different blockchains.
Thanks for your response. I tried using the DApp browser and Uniswap. For some coins like BNB there is a button next to it labelled ‘import’ since they are not listed by default like ETH for example. What do they mean. What would be the effect of doing so?
When you press import, the Uniswap will find the available liquidity pool for that token. BNB (ERC20) doesn’t have enough liquidity, so you can’t trade your LINK (ERC20) to BNB (ERC20).
So in effect - it is better to stay away from those listed with ‘Import’. I noticed a note that also warned - that there could fake cryptos that might be traded.
Not necessarily. There are times where it is not in the list yet, so importing is necessary. You just need to triple-check whether the token is the legitimate one or not.