Can I send ETH to Binance Smart Chain? Nowadays, due to the increasing the gas prices in Ethereum Network, a lot of users in the DeFi field have proceeded to travel from this network to other active Blockchain networks in DeFi field. Binance Smart Chain is a platform for setting up DeFi projects and Smart Contracts like Ethereum that was made by Binance.
In the continue of this article in shetcoiner, we are trying to answer the questions of a lot of users about that “can I send ethereum to Binance Smart Chain”.
Is sending Eth to Binance Smart Chain possible?
Unfortunately, one of the weaknesses of the Ethereum’s network is the high prices of Ethereum’s Gas for transactions on its Blockchain. these fees can sometimes be as high as 100$ for a small transition, which can be staggering for DeFi traders and activists.
The Binance Smart Chain Project was in fact developed from many perspectives to compete with the Ethereum’s network and its high fees. The high fees and gas prices that the Ethereum network sometimes incurs can hurt crypto activists and make the market less attractive.
By creating Binance Smart Chain (BSC), Binance both solved the problem of DeFi users and added more attractions for its brand and its exchange.
Also, although this blockchain is very new and does not have a long records of activity, it currently has a variety of large and small and important and different projects on it which DeFi users have built.
Another thing is that after the development of Binance Smart Chain, Binance connected this platform to its decentralized trading platform; DEX, and quickly made its decentralized exchange project a competitor to alternative projects of other centralized exchanges, like Uniswap and SushiSwap.
Binance also has no restrictions or problems for transferring Ethereum from other networks to its Blockchain network, and you can easily receive other tokens and cryptocurrencies from any other Blockchain network in Binance smart Chain.
Transferring assets from Ethereum network to Binance Smart Chain
To transfer your assets from the Ethereum network to Binance, you can easily use the Binance Bridge feature provided by this exchange and transfer your assets from any Blockchain network to Binance Smart Chain Network.
Binance Bridge is a tool developed for easy transfer of assets between different Blockchains. In this article in shetcoiner website, we will teach you how to use Binance Bridge to transfer your assets from the Ethereum network to Binance Smart Chain.
Please pay attention to the fact that Binance exchange and using it is not allowed in the United States and a some of other countries, and this exchange will not allow you to use its facilities if you enter its site with the IP of these countries. So to solve this problem, you can use different VPN software and solve your problem.
Connecting MetaMask wallet to Binance Bridge
In this part of the guide we have to introduce our wallet (which here MetaMask in here) to Binance and connect it to Binance Bridge. You can also use the Binance wallet to connect to the Binance Bridge and transfer your assets from the Ethereum Blockchain to the BSC network and you will have no problem.
- Before continuing the other steps, make sure that your wallet is connected to BSC.
- Go to Binance Bridge using this link: https://www.binance.org/en/bridge
- After the tab got opened, click on the “Connect Wallet” at top right corner to open its page.
- Now select the source wallet between the different wallet. (we are going to choose MetaMask here).
- Now click on the “Connect Wallet” Button.
- Now you will go to a page shows you the information of you MetaMask wallet and you have to find your wallet here and choose it. Then hit the “Next” button.
- In the next page you can check some permissions that Binance asks you to check and the you need to click on “Connect”.
Send ETH to your MetaMask wallet.
Using Binance Bridge, it is possible to send any supported asset from any supported network to the BSC. In this part of the article, after connecting our wallet to Binance Bridge, we transfer some ETH from the Ethereum’s network to Binance Smart Chain.
However, you can also send other assets, just make sure to follow all the steps carefully so that no problem happens for your property.
Sending ETH from Ethereum Blockchain on MetaMask to Binance Smart Chain
After connecting your wallet to Binance Bridge we will go for sending assets to BSC step.
- Choose ETH as your asset in the intended combo list
- Select Ethereum in the “From” section.
- Make sure that Binance Smart Chain in selected in the “To” section.
- Enter your desired amount of ethereum in the “Amount” textbox.
- In this section you must specify the BNB gas. If you want your transition to be done more quickly and confidently, click on the higher gas, otherwise select the lower value option and check the “I want to swap some BNB gas in this order” option. So be sure to keep some BNB in your wallet.
Binance sends the gas price along with your assets to the destination wallet to help you send your assets. This means that your wallet will be credited according to Ethereum 9.9 Binance calculations along with the amount of BNB you have chosen. If you do not check this, you will need to send some BNB later.
- In the next step; A pop-up window opens that asks us to say what we want to do. The three main options explain whether or not Binance Bridge should or should not be used in these cases. If you select any of the descriptions, a full description will be given to you.
At this point we want to transfer some ETH from Ethereum Wallet to Binance Smart Chain Wallet, so we have to select “I will send tokens from my own wallet” and click “Next” button.
Confirming transaction step
Confirmation of the transfer is required at this level, so read the transfer information carefully.
- Now click on “Confirm” after making sure about the information.
- Now Binance Bridge creates a 2-hour address for you, at which time you have time to send your 10ETH to this address.
- After sending your assets, after a while, your assets will be received and completed in the BSC Connect wallet.
Now you can safely invest in Smart Contracts with your assets in the Binance Smart Chain network and avoid the high gas cost of Ethereum.
