Transfering Funds to Another Network

[GreatArkansas]

Option 1:
Deposit to CEX (centralized exchange) that support cross chain withdrawals. Most CEX do that. For example binance or even hotbit:

For me, this is a good option for most of the chains these days. I already tried bridge on some networks and used CEX (centralized exchange) as a bridge.
Especially if you are transferring a low amount of funds in the bridge, you will just eat by transaction fees because there are some bridge that the fees are fixed not based on the percentage you bridge.
Another thing to consider is non-user/newbie friendly using bridge platforms, especially if you are that non-techy or newbie on these things, you will find some difficulties.

[1714625654]

1714625654

[1714625654]

1714625654

[1714625654]

1714625654

[1714625654]

1714625654

[Xal0lex]

Hello, I'm quite new to DeFi projects and smart contracts, and I'm interested in getting to know more about them. Currently, I've only invested in projects found on the Binance Smart Chain network. My portfolio is consisted of two smart contracts, FTM - USDT and  UST - BUSD, which aren't too bad, but there are far better ones in other chains.

My question now is, how do I transfer funds from one network to another? Up to this point, I have a decent sum of money in BUSD and USDT. Due to being a complete newbie regarding this matter, I don't want to mess anything up and end up losing my funds, it's not a banking service, thus, if I do something stupid, there's a high chance that my money is lost on the blockchain.

You should use cross-chain aggregators where you can choose the right bridge to exchange tokens.

You can find a detailed table of bridges here: https://docs.google.com/spreadsheets/d/1jYZOfU2R3PdzRmnY9Nfc4pzerX_YSInNdyhtSj_3oWY/edit#gid=0


You can also use DEX exchanges to exchange tokens. It won't take much time, but it will cost a bit more in commissions because you will have to do more actions to get the final result.

[Marvell1]

Option 1:
Deposit to CEX (centralized exchange) that support cross chain withdrawals. Most CEX do that. For example binance or even hotbit:

For me, this is a good option for most of the chains these days. I already tried bridge on some networks and used CEX (centralized exchange) as a bridge.
Especially if you are transferring a low amount of funds in the bridge, you will just eat by transaction fees because there are some bridge that the fees are fixed not based on the percentage you bridge.
Another thing to consider is non-user/newbie friendly using bridge platforms, especially if you are that non-techy or newbie on these things, you will find some difficulties.

Most of the market participants will have an account on CEX so to make it simpler and avoid the risk of transfering to another network, CEX is a great option. In addition to transaction fees, when we use the bridge it will be quite difficult for new users because manipulating more steps can lead to confusion and loss of money. I only use bridge platforms when my holding tokens are not listed on CEX.