How to send usdt erc20 from trust wallet to binance

Hello, I know that there’s a lot of people asking the same question, I was researching how to fix this problem all day but still, I just want some approval from others to be sure.

I have 150 USDT(erc20) In my Trustwallet, there is no ETH , so I need to transfer some ETH to trustwallet to be able to do something with my USDT I will do that.

The question is:
what is the best way to swap ERC20 to BEP20? I can’t use binance bridge with trustwallet, because there is no option to connect to binance bridge with a Trustwallet. So, another option is to try to send my erc20 to Binance exchange and then there swap erc20 to bnb and then send it back tu Trustwallet. Can I do that and is it the most efficient way?

Thanks all for help. I finally made it. In case someone have same question here is process:

1. So I got payment in Trust wallet in USDT (ERC20)
2. To transfer money you need some ETH for gas fee
3. Because I am using AdvCash to deposit money on Binance (because in my country I am not able to directly pay with CC to Binance) I deposited some money on AdvCash and then send ETH to my Trust wallet.
4. After that I go in Binance > Wallet > Spot > Deposit > Choose USDT > copy address > Trust wallet USDT send money > paste address and then after few minutes I got USDT transfered to Binance.

 

1. Log into your Binance account and click [Wallet] [Overview].

2. Click [Deposit] and you will see a pop-up window.

3.Click [Crypto Deposit].

4. Select the cryptocurrency you want to deposit, for example USDT.

5. Next, choose the deposit network. Please

make sure that the selected network is the same as the network of the platform you are withdrawing funds from

. If you select the wrong network, you will lose your funds.

6. In this example, we will withdraw USDT from another platform and deposit it into Binance. Since we are withdrawing from an ERC20 address (Ethereum blockchain), we will select the ERC20 deposit network.

7. Click to copy your Binance Wallet’s deposit address and paste it to the address field on the platform you intend to withdraw crypto from.

Alternatively, you can click the QR code icon to get a QR code of the address and import it to the platform you’re withdrawing.

Click [Change], then select either “Spot Wallet” or “Funding Wallet” to make a deposit to.

8. After confirming the deposit request, it takes time for the transaction to be confirmed. The

confirmation time

varies depending on the blockchain and its current network traffic.

Once the transfer is processed, the funds will be credited to your Binance account shortly after.

What is Ethereum?

Ethereum is a public, open-source, peer-to-peer network of virtual machines. It is a blockchain-based distributed computing platform and operating system featuring smart contract functionality. In other words, it is a decentralized supercomputer that anyone can use. Ethereum is most frequently used to track the ownership of digital currencies like Ether and ERC20 tokens but it also supports a wide range of decentralized applications (dApps). A few

How does it work?

The Ethereum blockchain is similar to Bitcoin, but its programming language enables developers to write programmable code, called smart contracts. If a traditional contract outlines the terms of a relationship, a smart contract ensures those terms are fulfilled by writing it in code. It is software that automatically executes the agreement as soon as predefined conditions are met, eliminating the delay and expense involved in completing a deal manually.To take a simple example, an Ethereum user could create a smart contract to send a certain amount of ether to a friend on a certain date. They would record this on the blockchain, and as soon as the contract is complete – that is, the agreed date arrives – the ether would automatically be released to the other party. This fundamental idea can be applied to far more complex setups, and its potential is arguably limitless. Projects are already making headway in the areas of insurance, property, financial services, legal and crowdfunding.

What are the features of Ethereum?

Smart Contracts

Vitalik Buterin expanded on Bitcoin secure transaction technology and found on an abstract level that a transaction in itself could be secured with a contract. The contract is an agreement between two parties securing the promise of a one- or two-way exchange. He designed the Ethereum Virtual Machine with this in mind; that any transaction over the blockchain network should be self-executed once agreed upon by both parties and should be recorded on a public blockchain ledger. This self-execution is what makes these contracts “smart”. Ethereum opened up an entirely new universe for business accountability and in turn a new economy.Smart contracts benefits:

  • They cut out the middleman, giving the user complete control and minimal extra costs
  • They are recorded, encrypted and duplicated on the public blockchain, where all participants can see market activity
  • They eliminate the time and effort required to manually process agreements and documents. Smart contracts are still an entirely new system with a number of creases to iron out. The code is translated literally, and any errors or vulnarability when the smart contract is created may result in unintended outcomes which can’t be undone and could lead to the loss of funds.

Decentralized Applications

A decentralized application (DApp) is an application run by many users/nodes on a fully decentralized network with trustless protocols. DApps are designed to avoid any single point of failure and control. They typically have tokens and incentives to reward users for providing security and computing power.

What are the difference between Token vs Coin?

Sometimes people use the term “coin” to refer to what other people call “tokens”, and “token” to refer to what others call “coins”. In reality, they are both Digital Assets which can transfer and store value. Coins are usually created within a network, like ETH, BTC, LTC. Tokens are Digital Assets created within the application on a certain blockchain. On the Ethereum network they are called ERC20 tokens.

Ethereum is a public, open-source, peer-to-peer network of virtual machines. It is a blockchain-based distributed computing platform and operating system featuring smart contract functionality. In other words, it is a decentralized supercomputer that anyone can use. Ethereum is most frequently used to track the ownership of digital currencies like Ether and ERC20 tokens but it also supports a wide range of decentralized applications (dApps). A few Ethereum wallet options are available with Ethereum. The Trust Wallet mobile app started off as an Ethereum wallet but has since evolved its offering of storage capabilities and has become a multi coin crypto wallet which is capable of storing Ethereum ERC20 coins and other cryptocurrencies as well.The Ethereum blockchain is similar to Bitcoin, but its programming language enables developers to write programmable code, called smart contracts. If a traditional contract outlines the terms of a relationship, a smart contract ensures those terms are fulfilled by writing it in code. It is software that automatically executes the agreement as soon as predefined conditions are met, eliminating the delay and expense involved in completing a deal manually. To take a simple example, an Ethereum user could create a smart contract to send a certain amount of ether to a friend on a certain date. They would record this on the blockchain, and as soon as the contract is complete – that is, the agreed date arrives – the ether would automatically be released to the other party. This fundamental idea can be applied to far more complex setups, and its potential is arguably limitless. Projects are already making headway in the areas of insurance, property, financial services, legal and crowdfunding.Vitalik Buterin expanded on Bitcoin secure transaction technology and found on an abstract level that a transaction in itself could be secured with a contract. The contract is an agreement between two parties securing the promise of a one- or two-way exchange. He designed the Ethereum Virtual Machine with this in mind; that any transaction over the blockchain network should be self-executed once agreed upon by both parties and should be recorded on a public blockchain ledger. This self-execution is what makes these contracts “smart”. Ethereum opened up an entirely new universe for business accountability and in turn a new economy. Smart contracts benefits:A decentralized application (DApp) is an application run by many users/nodes on a fully decentralized network with trustless protocols. DApps are designed to avoid any single point of failure and control. They typically have tokens and incentives to reward users for providing security and computing power.Sometimes people use the term “coin” to refer to what other people call “tokens”, and “token” to refer to what others call “coins”. In reality, they are both Digital Assets which can transfer and store value. Coins are usually created within a network, like ETH, BTC, LTC. Tokens are Digital Assets created within the application on a certain blockchain. On the Ethereum network they are called ERC20 tokens.

BEP-20 is a token standard on BSC (BNB Smart Chain, formerly Binance Smart Chain) that extends ERC-20, the most common Ethereum token standard. Users can create a native asset as a BEP-20 token or even peg tokens from other blockchains to make them usable on BNB Smart Chain. These are called “peggy” coins, which are essentially BEP-20 versions of other crypto assets.

If a user sends BEP-20 tokens to other trading platforms through unsupported networks, the assets may not be retrieved. We strongly recommend you to read the FAQ on How do I Deposit/Withdraw Cryptocurrency first before you make any transfer.

If you send BEP-20 tokens to an unsupported wallet by mistake, you can recover the assets by adding a smart chain network to that wallet or deposit the BEP-20 tokens to a different wallet that is compatible with BNB Smart Chain.

*Keeping your private keys and seed phrases safe is of paramount importance. If they are stolen or lost, your assets cannot be recovered.

Follow the instructions below to recover your assets:

1. Connect your wallet to BNB Smart Chain

If you’re using a MetaMask wallet, follow the steps in this article to configure your wallet. Once you’ve manually added the BNB Smart Chain network, simply switch the connection to BSC, and you can see your BEP-20 tokens.

2. Recover the BEP-20 tokens in your wallet to a BSC-compatible wallet

You can recover the BEP-20 tokens in your original wallet, then set up a new BSC-compatible wallet to deposit your BEP-20 tokens. BSC-compatible wallets include Binance Wallet, Trust Wallet, etc.

Let’s use Binance Wallet (extension) as an example:

Step 1: Download and install the Binance Wallet browser extension on Chrome or Firefox

Step 2.1: Recover your account with the seed phrase.

If you already own a Binance Wallet account, click [I own a wallet]. Enter your seed phrase and a new password to recover it.

Step 2.2: Or create a new Binance Wallet account and import your private key.

You may also create a new Binance Wallet to deposit your BEP-20 tokens. Click [I do not own a wallet] to create a new wallet. Go back to your original wallet and copy the relevant private key. You can now deposit your BEP-20 tokens to Binance Wallet by clicking [Import]. Paste your copied private key and select [BNB Smart Chain Network]. You will see your BEP-20 tokens in the Wallet immediately.

Please note that withdrawing assets with BNB Smart Chain or BNB Beacon Chain (formerly Binance Chain) requires gas fees charged in BNB, the native token of the chains. Therefore, you need to have a small amount of BNB in your wallet to complete the transaction.

For more information on blockchain and cryptocurrencies, please refer to the links below:

Written by Jane