Cryptocurrency How To

How do I transfer cryptos from one network to another?

So, you know there are other crypto networks as well. Hmm. Now, you are confused, how a coin can be withdrawn from Binance Smart Chain, HECO, Polygon, xDAI, or some other network. Confused? Here is a guide where we explain everything in just 300 words. We will explain how can you transfer your cryptos from one network to another without a sweat.

What are Blockchain Networks?

A blockchain network is an infrastructure that provides smart contract and ledger services to other applications built on them. For example, Ethereum is a decentralized blockchain network powered by the Ether token that enables users to make transactions, earn interest on their holdings and there are several applications running over it. There are several other networks that came into being like Binance Smart Chain, Heco Chain, Casper, Polygon, xDAI, Avalanche, Fantom. These smart contracts have their own features and ledgers.

How do I transfer tokens from one network to another?

You can’t simply do that without any network bridge or through any exchange. Though popular chains like Binance Smart Chain, Heco, Polygon/Matic chains can be transferred directly from exchanges like Binance, Huobi, MXC. The simplest and cheapest way to transfer your tokens from one network/chain to other is through these exchanges.

Here are some exchanges and networks they support, where you can deposit your tokens in one network and withdraw to another.

Binance – [Ethereum Network, Binance Smart Chain, Tron Network] – So, if you have USDT in your Binance Smart Chain you can deposit it here and withdraw the same amount in Ethereum or Tron Chain/Network.
Register on Binance with this link to save up to 40% on your trading fees. Here is a step by step tutorial on how to use Binance Exchange as a beginner.

Huobi Global[Ethereum, HECO, Tron] – Huobi can convert your USDT to any of the mentioned networks. The fees updated daily as per the network loads, so very efficient and cheap.
Register on Huobi Global with this link to get a welcome bonus of $170. Here is a step by step tutorial on how to register and complete KYC on Huobi Global.

Hotbit [Ethereum, BSC, Heco, Tron] – The fees is a little high as compared to other CEX platforms.

MXC and Gateio[Tron, Ethereum, Solana, EOS, Heco, BSC, MATIC] – The maximum supported networks right now is available on these two exchanges. So, you can simply deposit USDT in any network to one of these exchanges and withdraw that crypto in any of the mentioned networks. Register on MXC with this link to get 20% fee discounts or Gateio with this link to get 30% fee discounts.

How to transfer one token to another with Network Bridge

Network bridges are DEX tools used to convert one network token to other. For example, https://wallet.matic.network/ is an official DEX tool to transfer your tokens from the Ethereum network to Polygon/Matic Network or vice versa.

Similar to that, there are several other different bridges available for different network conversions –
For example :

Ethereum to xDAI – https://bridge.xdaichain.com/, BSC or ETH to xDAI – https://omni.xdaichain.com/bridge

Ethereum to Binance/Tron – https://www.binance.org/en/bridge

Ethereum to Fantom/Binance/Polygon – https://multichain.xyz/explorer

If you have a better Network Bridge DEX, or a low cost CEX platform then please mention in the comments and we will update this list to provide much accurate information.

Key Takeaways

There are now several tens of blockchain networks and they are increasing on daily. These network chains are better then previous ones and comes with additional security, stability, robustness. With that it also increases the complexity for the investors like us. With these blockchain networks bridges DEX’s, you can transfer one crypto network to another.

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