How to convert my eth to bnb on trust wallet
What is Ethereum?
Ethereum and BNB Chain are two of the most popular blockchain networks out there. Each of these two blockchain networks has great capabilities unique to them. Ethereum is one of the most practical blockchains that enables smart contracts and running decentralised apps (dApps). The native token of the Ethereum network is Ether (ETH), which is the second largest cryptocurrency in the world in terms of market capitalisation. Because many projects, including NFTs, are based on the Ethereum network, having some ETH in your wallet is a must to be able to pay the fees.
What is BNB Chain?
On the other hand, BNB Chain is another well-established blockchain network that is very popular amongst the crypto community. As you may have guessed, this network is backed by Binance exchange, and is powered by its native token, i.e., BNB. The fees on BNB Chain are competitively low and it can handle a good number of transactions per second. There are many great blockchain projects that are built on top of BNB Chain, and that is why covering transaction fees of the tokens on this network will require you to have some BNB in your wallet. Sometimes the users may need to swap ETH to BNB or vice-versa to be able to pay the fees, and that is what this article is going to teach you.
Swapping ETH to BNB on Trust Wallet
Before starting with your swap, you need to know that you cannot swap two tokens that are not on the same network. Therefore, ETH that is on ERC20 network cannot be swapped into BNB that is on BEP20 network. If the source and destination tokens are on different networks, you may need to have to look for alternatives like an exchange. However, if the ETH tokens you have in your Trust Wallet are Binance-pegged, you can easily swap them to BNB. To find out what network your tokens are on, just tap on your asset on Trust Wallet and check the top left corner of the screen. If it says “BEP20” and the name of your token is “Binance-Peg Ethereum”, then it means that your ETH is on BNB Chain network and you are good to go. But if it says “COIN”, it means that the ETH is on its own network, which is ERC20, and you cannot swap it to BNB in Trust Wallet.
If both tokens are on the same network, follow these instructions to swap ETH to BNB in Trust Wallet:
- Tap on Binance-Peg Ethereum and hit swap and then choose SWAP ETH.
- Trust wallet will require you to Approve your ETH first before swap.
- In Smart Contract Call, hit CONFIRM. Executing the smart contract will require a fee.
- After approval, the SWAP button in step 2 will be active.
- Enter the amount you want to swap and hit SWAP. Make sure that Binance-Peg Ethereum is on top and BNB is below it.
- Hit CONFIRM for final approval. Wait until the process is done.
Congratulations! If you have done these steps carefully, your ETH should be swapped into BNB and the amount should be added to your wallet.
Trust Wallet is easily one of the best crypto wallets for smartphone users, offering the ability to trade all sorts of cryptos and interact with many built-in decentralized apps. Although the digital wallet has the ability to store coins from different networks, many users are still not sure how to convert ETH to BNB on Trust Wallet. Thankfully, you’ve come to the right place.
In order to convert ETH to BNB on Trust Wallet, you will first need to wrap them or use a cross-chain bridge, as these two coins are not on the same network. Wrapping ETH will extend its ERC-20 standard to Smart Chain’s BEP-20, allowing you to exchange it for BNB tokens in the Trust Wallet.
How to Convert ETH to BNB on Trust Wallet
Ethereum and Binance are two of the most popular blockchains currently available, so it’s no surprise that many crypto traders want to know how they can convert their coins from one to the other. However, if you’re using a Trust Wallet and you have some ETH that you want to exchange for BNB, you won’t be able to do so directly.
This is because these two coins are native to different networks, which use different standards. Ether (ETH) is native to the Ethereum blockchain, which uses the ERC-20 standard in all its transactions. Even though the Binance Coin (BNB) was initially created on Ethereum, it is now native to the Binance network, so Ether cannot be exchanged directly for it.
Thankfully, if you have some Ether (ERC-20) lying around, you can still exchange it for BNB tokens, but it needs to be wrapped first. The process of wrapping Ether is actually relatively simple, as all you have to do is send the coins to a smart contract, which will then provide you with the exact amount of Wrapped Ether (WETH) minus transaction fees.
The ETH you put forward will be locked away, but it can be exchanged back at any given time for WETH. However, wrapping can’t be done on the Trust Wallet itself, so you will need to use some other service, like Uniswap or Metamask.
How to Wrap ETH on Uniswap
If you’re looking to wrap your Ether on Uniswap in order to exchange it for one of the Binance coins, you will need to:
- Create a Uniswap account,
- Connect your wallet and go on the Swap tab,
- Make sure you’ve selected the Ethereum network,
- Pick ETH in the top field and WETH in the bottom,
- Enter the amount of Ether you want to convert and click the Wrap button,
- Check the transaction details and confirm the swap in the wallet.
Considering the transaction needs to be confirmed on the blockchain, be aware that it may take some time for the newly Wrapped Ether (WETH) to be deposited into your wallet.
Convert ETH to BNB Through a Cross-Chain Bridge
Another way you can convert your ETH to BNB is to exchange the coins by creating a cross-chain bridge. To do this, you will need to complete the conversion on a decentralized app (DApp). The exchange will offer you to choose between Celer cBridge and Any Swap, both of which are good for the job.
The process of exchanging ETH is going to be almost exactly the same whatever option you choose. However, since cross-chain protocol exchange is still in beta over at Any Swap, let’s go over the steps you’ll need to take when using cBridge:
- Connect your trust wallet to cBridge,
- Open the app and click on the Transfer tab,
- Select the currency you want to exchange (ETH) and its network (Ethereum),
- Choose the currency you wish to receive (BNB or BSC) and click Transfer.
Does the Cross-Chain Bridge Work on Binance Exchange?
If you’re already a Binance user, you can also use the Binance Bridge on the network’s official app. However, this process is also not available with the Trust Wallet, so you’ll have to use one of the decentralized apps I just mentioned.
What Would Happen if I Sent Tokens From a Different Network to Binance Without Conversion?
If you’re thinking about sending any crypto to your Trust Wallet or the Binance exchange, make sure that their protocols actually align first. In case you do send some Ether tokens that are not from the same network, you will lose the funds for good, as there won’t be any way to recover them.
What Types of Tokens Does the BNB Chain Have?
Unlike many other blockchains out there, BNB Chain has two types of token standards used for different transactions and interactions. These coins are known as BNB and BSC, and they are traded separately. If you’re not sure which coin suits your needs more, here’s a quick overview of the transactions each token supports.
Token StandardNetworkTradingDapp InteractionStakingBEP2BNB Beacon Chain (BNB)YesNoYesBEP20BNB Smart Chain (BSC)YesYesNo
Enjoy the Benefits of the BNB Chain
Converting Ether to BNB provides numerous benefits, as wrapped tokens can increase the crypto traders’ capital efficiency and liquidity on both centralized and decentralized platforms. The fees are also much lower than the gas fees on the Ethereum network, and transaction time won’t be nearly as long, making the conversion a worthwhile investment.
Are you looking to swap or convert ETH (Ethereum) to BNB (Binance Coin)?
Or do you want to convert ETH to Smart Chain?
Swapping allows you to exchange one cryptocurrency for another.
Most cryptocurrency exchanges like Binance allow you to do this.
Binance is the most popular cryptocurrency exchange with very low fees.
Hence, its highly recommended for beginners and professionals alike.
However, you need to create an account on the exchange before you can make a swap.
But don’t worry, creating an account on a cryptocurrency exchange is usually quick and easy.
In this guide, you’ll learn how to swap ETH to BNB using the Binance exchange.
How to Swap ETH to BNB
To swap ETH to BNB, you must first download the Binance app and create an account.
Then, deposit your BNB into your BNB wallet on Binance and navigate to the “Convert” page.
On the “Convert” page, you’ll be able to swap ETH to BNB in one go.
On Binance, there are no trading fees.
In other words, no fees will be incurred when you’re swapping a cryptocurrency for another.
However, there’ll be a spread, which means that the cryptocurrencies that you’re swapping will be higher than the market price.
After you’ve swapped Ethereum to BNB, you can then withdraw your BNB to your desired wallet.
Here’s how to swap ETH to BNB:
1. Download the Binance app & create an account
Get started on Binance here: https://www.binance.com/en/register?ref=73583477 or use “73583477” as the referral code.
To swap cryptocurrencies, you need to create an account on a cryptocurrency exchange like Binance.
Most exchanges have a converter that allows you to swap a cryptocurrency for another.
Binance is highly recommended due to its low fees and 24/7 support.
Firstly, open the App Store or Google Play Store and download Binance.
Alternatively, you can use Binance on your desktop.
After you’ve downloaded Binance, open the app.
If you’re using Binance on your desktop, use the referral link above to create an account.
After you’ve opened Binance, tap on the “Sign Up / Log In” button.
Next, tap on “Register” to open the registration page.
On the registration page, enter your email address.
Then, choose a password containing a mix of uppercase letters, lowercase letters, and numbers.
Next, tap on the “Referral ID (Optional)” header to expand it.
Copy “73583477” and paste it on the “Referral ID” field.
Lastly, verify your email address to complete the account creation process.
2. Deposit ETH into your ETH wallet on Binance
The second step is to navigate to your ETH wallet on Binance.
This is because you need to deposit ETH into your ETH wallet on Binance to swap it for BNB.
In this guide, we’ll be using the Lite version of Binance.
If you’re not on the Lite version of Binance, tap on the profile icon, then tap on the switch on “Binance Lite” to enable it.
Once you’re on Binance Lite, tap on the wallet icon on the bottom navigation bar.
This will open your Binance wallet.
Next, tap on the “Deposit” button under your total balance.
After you’ve tapped on the “Deposit” button, you’ll land on the “Choose Currency” page.
On the “Choose Currency” page, you’ll see a couple of tabs including “Fiat” and “Crypto”.
By default, you’ll be on the “Fiat” tab.
Tap on the “Crypto” tab to open a list of cryptocurrencies that you can deposit.
On the search bar, search for “Ethereum” or “ETH”.
Lastly, tap on “ETH (Ethereum)” to open your ETH wallet on Binance.
After you’ve tapped on “ETH (Ethereum)”, you’ll land on the “Deposit ETH” page.
On the “Deposit ETH” page, you’ll see your ETH address.
Your ETH address is located under the “ETH Deposit Address” header.
Under the “ETH Deposit Address” header, tap on the duplicate icon to copy your ETH Deposit Address.
Then, send your Ethereum from your other wallet to this address.
For example, if your Ethereum is on Metamask, you need to transfer it to your ETH wallet on Binance.
You can learn how to do this by reading this article.
In a nutshell, you need to navigate to the “Send ETH” page on Metamask, Trust Wallet, etc., and paste your Binance ETH address.
3. Tap on “Convert”
Once you’ve sent your Ethereum to your Ethereum wallet on Binance, you’ll be able to swap it for BNB.
Firstly, tap on the reverse icon on the bottom navigation bar.
After you’ve tapped on the reverse icon, a navigation menu will open.
On the navigation menu, you’ll see multiple options including “Buy”, “Sell”, “Deposit”, and “Convert”.
Tap on “Convert” to go to the “Convert” page.
4. Convert BNB to ETH
After you’ve tapped on “Convert”, you’ll land on the “Convert” page.
On the “Convert” page, you’ll see a couple of fields including “From” and “To”.
Firstly, tap on the “From” field.
This will open a list of cryptocurrencies that you can convert from.
Search for “ETH” and tap on “ETH (Ethereum)” to change the “From” field to “ETH”.
Secondly, tap on the “To” field and search for “BNB”.
Then, tap on “BNB” to change the “To” field to “BNB”.
Thirdly, enter the amount of Ethereum that you want to swap for BNB.
Make sure you have sufficient Ethereum or the transaction will fail.
Lastly, tap on “Preview conversion” followed by “Convert” to swap your ETH to BNB.
After you’ve swapped ETH to BNB, you can send the BNB to another wallet.
You’ve successfully swapped your ETH (Ethereum) to BNB (Binance Coin)!
Before you swap a cryptocurrency for another, you need to know a few things.
Firstly, you need to check the exchange fees.
Some cryptocurrency exchanges charge a very high exchange fee.
In addition, you need to check the cryptocurrency pair that you want to swap.
Transactions are final and cannot be reverted.
Lastly, when you’re sending your swapped cryptocurrency, make sure to send it to the right wallet.
Sending your cryptocurrency to the wrong wallet might lead to a loss of funds.
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