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Author Topic: Binance with auto SWAP of ER20 old token is good.  (Read 101 times)
Natalim (OP)
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April 14, 2021, 11:13:33 PM
Merited by Japinat (1), Sled (1)
 #1

I an old TRX in my MEW and it did not reflect the value in the balance, I'm just lucky to carefully look at each tokens I have and see the TRX balance, I then  check my Binance wallet and there I see there's a TRX erc20 deposit option so I did a try and I'm happy it was really converted.

So I just want to share it here, not only for TRX but other erc20 token that has already have their main net now, carefully check your wallet, who know there's a treasure just sitting there, it's time to convert as the market is in bull run.

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April 14, 2021, 11:34:47 PM
 #2

Lucky binance also helping TRON with the swap process as you know TRON Foundation has been making the announcement the deadline of SWAP is June 24th 2018. But, could be binance x TRON offering for swap process with old chain with any time without some limit by using binance. For everyone information, binance is the only one exchange who offering a swap process from TRX (ERC20 Version) to TRX mainnet chain.

Read more here : https://medium.com/tron-foundation/guide-to-independence-trx-token-migration-269302b6655c

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Japinat
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April 14, 2021, 11:48:21 PM
 #3

That's a great move by Binance, hopefully other exchange will follow the same since not all tokens are listed in Binance.

I have this KIN which I posted in https://bitcointalk.org/index.php?topic=5319830.msg56428319#msg56428319

But unfortunately it already pass the deadline and I'm waiting for the update of the devs on how this old erc20 token of mine will be swap.
If only its listed in Binance, swapping could be easy, anyway, great job OP for sharing, maybe some does not know about it as they might have forgotten their holding due to a long bear market before this bull run.

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April 14, 2021, 11:58:26 PM
 #4

Lucky binance also helping TRON with the swap process as you know TRON Foundation has been making the announcement the deadline of SWAP is June 24th 2018. But, could be binance x TRON offering for swap process with old chain with any time without some limit by using binance. For everyone information, binance is the only one exchange who offering a swap process from TRX (ERC20 Version) to TRX mainnet chain.

Read more here : https://medium.com/tron-foundation/guide-to-independence-trx-token-migration-269302b6655c

This is nice! Great to bump on this thread as now I will check my MEW. Sometimes, you don't know you have some tokens sitting in your wallet but suddenly they are now alive. Great initiatives from Binance. This is why people are getting interested with BNB because they are making our lives much easier.
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April 15, 2021, 01:27:11 AM
 #5

I think it is already working for a major ecosystem now or chain. Just like ERC20 -> TRC20 -> BEP-20  (Under Binance smart chain) -> SPL tokens (Solana network).
Some of the major exchanges now are already got this, just like FTX exchange (mostly free withdrawal fees). This is now very user-friendly for swapping our tokens to another chain, but it is just needed a centralized entity.

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tbct_mt2
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April 15, 2021, 01:58:48 AM
 #6

I think it is already working for a major ecosystem now or chain. Just like ERC20 -> TRC20 -> BEP-20  (Under Binance smart chain) -> SPL tokens (Solana network).
Some of the major exchanges now are already got this, just like FTX exchange (mostly free withdrawal fees). This is now very user-friendly for swapping our tokens to another chain, but it is just needed a centralized entity.
Binance is not the pioneer in this trend but their supports for token swaps cross chain only help their platform to have more customers, get more income and has bigger domination on the crypto market.

Technically I think it is not difficult for exchanges as they already support different chains for Tether USD (USDT). Tether USD transactions on TRC-20 chain are done with smart contracts. Exchanges can build up their smart contracts for those token swaps.

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Japinat
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April 15, 2021, 06:02:44 AM
 #7

I an old TRX in my MEW and it did not reflect the value in the balance, I'm just lucky to carefully look at each tokens I have and see the TRX balance, I then  check my Binance wallet and there I see there's a TRX erc20 deposit option so I did a try and I'm happy it was really converted.

So I just want to share it here, not only for TRX but other erc20 token that has already have their main net now, carefully check your wallet, who know there's a treasure just sitting there, it's time to convert as the market is in bull run.

wow the experience that makes you happy, of course, that you get, of course there will be many who try to find the possibilities as you say. who would have thought and who knows there is a possibility that it might indeed be in a wallet that has never been glanced at again because it is no longer being looked at.

Of course this is an interesting experience and can be tried because there is nothing wrong with doing that, thank you for the information that can really make many people breathe freely and think that who knows there is indeed a fortune.

With the number of projects before that have their main net or move to another platform and leave ETH, then these coins might not have a value in our wallet but in reality they have a value, let's continue to dig, maybe time will be kind and we will find some money, hehe..

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April 16, 2021, 01:04:20 AM
 #8

I think it is already working for a major ecosystem now or chain. Just like ERC20 -> TRC20 -> BEP-20  (Under Binance smart chain) -> SPL tokens (Solana network).
(....)
(....)
Technically I think it is not difficult for exchanges as they already support different chains for Tether USD (USDT). Tether USD transactions on TRC-20 chain are done with smart contracts. Exchanges can build up their smart contracts for those token swaps.
Yes indeed. I think some of the exchanges are already made working those different chain deposits of assets, but they are still not deploying it.

Some could because of competitors why we still not able to see some different chains supported on different exchanges.

An example is FTX Exchange and Binance Exchange, in which FTX exchange is currently one of the biggest supporters of Solana Network while Binance is for Binance Smart Chain.
Try to look at tweets of SBF and CZ, CEO of both exchanges.



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April 16, 2021, 01:17:37 AM
 #9

They just keeps on surprising us.
I also have one coin that I want to get out from my ERC-20 wallet and just waiting for the right moment to be available for a swap.
Binance easily took over everything. It's like they are telling us we don't need to fill our bookmarks with different exchanges and we only need one.  Cheesy
I am amazed at how they can manage everything without major errors. From customer support to system maintenance I had never experienced a problem even once.

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April 16, 2021, 01:30:08 AM
Merited by germsite (2)
 #10

They just keeps on surprising us.
I also have one coin that I want to get out from my ERC-20 wallet and just waiting for the right moment to be available for a swap.
Binance easily took over everything. It's like they are telling us we don't need to fill our bookmarks with different exchanges and we only need one.  Cheesy
Binance is a game changer and it is the fact. They changed the marketplace and the competition of crypto exchanges in 2017. They broke the domination from Poloniex and Bittrex.

After few months of shilling their BNB token with generous airdrop, they got big support and millions of people switched from Poloniex, Bittrex to Binance. Since 2017, they have never stopped growing bigger and their products are always game-changing.

Quote
I am amazed at how they can manage everything without major errors. From customer support to system maintenance I had never experienced a problem even once.
This is untrue. You can not say Binance exchange is perfect because you love it.

.
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April 16, 2021, 02:53:26 AM
 #11

They just keeps on surprising us.
I also have one coin that I want to get out from my ERC-20 wallet and just waiting for the right moment to be available for a swap.
Binance easily took over everything. It's like they are telling us we don't need to fill our bookmarks with different exchanges and we only need one.  Cheesy
Binance is a game changer and it is the fact. They changed the marketplace and the competition of crypto exchanges in 2017. They broke the domination from Poloniex and Bittrex.

After few months of shilling their BNB token with generous airdrop, they got big support and millions of people switched from Poloniex, Bittrex to Binance. Since 2017, they have never stopped growing bigger and their products are always game-changing.

Quote
I am amazed at how they can manage everything without major errors. From customer support to system maintenance I had never experienced a problem even once.
This is untrue. You can not say Binance exchange is perfect because you love it.

I concur with this. They have always provided exceptional service and their communication was always quick and honest. They deserve to be where they are today!
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April 16, 2021, 07:35:39 AM
 #12

I think its high time something is done to this eth thing, starting from how coin will not reflect until you use other means to check it. second is the outstrangous fee they charge either for swapping or as gas fee. There should be a new way to deal with all this issue ETH has all put us into. I think something is wrong with the ETH blockchain Technology, and it should be resolve on time before develepers migrate to another blockchain. a few of them are already doing that. We should be giving value for our coins, not when an exchange and the eth blockchain technology trying to steal majority of the coin with their nonsense fee through what they called GAS FEE AND SWAPPING FEE. They should do something about it I strongly suggest.

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April 16, 2021, 07:42:09 AM
 #13

I love binance exchange for that, last week they also auto swap all NXPS  coin holders to the latest PundiX, it safe you alot of stress unlike the old skool way of sending the coins to project website for swapping, binance exchange rocks

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ven7net
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April 16, 2021, 08:17:23 AM
 #14

I an old TRX in my MEW and it did not reflect the value in the balance, I'm just lucky to carefully look at each tokens I have and see the TRX balance, I then  check my Binance wallet and there I see there's a TRX erc20 deposit option so I did a try and I'm happy it was really converted.

So I just want to share it here, not only for TRX but other erc20 token that has already have their main net now, carefully check your wallet, who know there's a treasure just sitting there, it's time to convert as the market is in bull run.

Indeed, Binance has recently been able to reach a new level and provide a number of great opportunities for the crypto community. Replacing the ERC-20 token is an excellent solution, especially now when the fees on the Etherem network are very high. I am also increasingly starting to use BNB in ​​my trading and transferring crypto and this is really great.
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April 16, 2021, 09:23:39 AM
 #15

Great to hear that! BNB do their best to deliver useful platform and services for the crypto community. Honestly, regardless of how decentralized BNB is, I feel it has several advantages over the current Ethereum platform. Cheaper fees, faster transactions, and higher adoption of its Binance Smart Chain by the old and new projects too.

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