How to Convert ETH to BNB? Ethereum to Binance Coin
We continue our series of articles on cross-chain bridges. Cross-chain swaps are exceptionally convenient, as it can be quite problematic to process exchanges between different blockchains. Not all wallets or crypto services support cross-chain, and crypto enthusiasts have to choose bigger exchanges, such as Binance, Gemeni, Coinbase, etc. It can often be inconvenient as they require long registrations, KYC, etc. StealthEX offers its customers an option of exchanging tokens created on various blockchains smoothly and quickly, without signing up for the service. Cross-chain swaps are one of the platform’s key benefits. Read more about how to swap ETH to BNB in the new StealthEX article.
ETH to BNB Bridge: A Simple and Straightforward Process
There are many swappers where you can exchange Ethereum to Binance coin, and StealthEX is one of the safest cross-chain exchanges. This platform offers users to convert ETH to BNB with no extra fees and with the best floating and fixed rates. Such cross-chain exchanges are always freely available via StealthEX.
How to Swap ETH to BNB?
Just follow the guidelines below. Let’s imagine you want to exchange ETH for BNB. To make an exchange, you need to take a few simple steps.
First, you should choose Ethereum (ETH) in the left drop-down list. Then choose Binance coin (BNB) in the list of coins on the right.
After setting the pair it is necessary to enter the amount of BNB you want to exchange. Here you will see the estimated amount of BNB that you will receive after the exchange.
Now, when everything is set, press the Start Exchange button and you will be taken to the next page.
In the second step, you need to provide the BNB crypto recipient address. The recipient address must match the crypto you are going to receive. Remember to double-check the information you enter prior to the exchange as the transaction you make cannot be canceled.
As soon as you have carefully checked all the details, you can press the Next button and you will be redirected to the Confirmation page.
Pressing the Next button you will be redirected to the Exchange page.
At first, you will see the address where you need to send your ETH to continue the exchange. StealthEX will also provide you with the exchange ID. It will allow you to keep all the information about the swap. It is recommended to save your exchange ID or the link to your exchange.
After sending Ethereum coins to the shown address, the information on the Exchange page will be renewed automatically. The Exchange page has several statuses that will change during the time of the exchange.
- The first status is Awaiting deposit.
- The following status is Confirming. This means that StealthEX is confirming the transaction you made.
- The next status is Exchanging. During this time the exchange is being made.
- Then the status will be changed to Sending to your wallet. This indicates that there are just a few minutes until you receive your BNB (BEP2) cryptocurrency.
Completion of the Exchange
Finally, you will be redirected to the Finish page. This shows that the exchange has been successfully made and you will receive crypto to the address provided. To be sure that BNB coin was sent to your wallet you can also use the Output hash shown on this page and check it in the blockchain list of transactions.
From here you can either create a new exchange on StealthEX.io or leave the page and check your Binance coin wallet to be surprised at how fast you get BNB to your address. Usually, the process is quite rapid so you won’t need to wait long: ETH-BNB BEP2 swaps are processed in a matter of minutes. Alternatively, you can swap BNB to ETH or choose any other crypto pair available on the platform.
Keep reading StealthEX’s article to learn more about cross-chain swaps.
How Do Cross-Chain Swaps Work?
Cross-chain swaps use smart contracts to enable token exchange between two parties on two different blockchains. These smart contracts are powered by a technology called Hash Time Lock Contracts (HTCLs), which locks the transactions with unique combinations to ensure verification is done on both ends. As a rule, exchanging digital assets between various blockchains that don’t interact with each other will require a lot of time and effort from the user.
Cross-chain swap is a crucial blockchain mechanism as it eliminates third-party entities from the token exchange process and facilitates multi-blockchain transactions simultaneously. This is why state-of-the-art cross-chain swappers like StealthEX crypto exchange are so popular.
Cross-Chain Swaps: Advantages
Cross-chain swap is not limited to trading and exchange only. Major industries utilize the core advantage of this technology to develop trustless and decentralized exchanges that allow individuals to trade on their desired blockchain. All these features together establish a more interoperable, safe, robust, and fast blockchain ecosystem where traders get full control of assets as they have the convenience of swapping tokens from their official wallets directly. Cross-chains swaps offer a number of advantages, including:
- Decentralized nature. The world is recognizing the significance of decentralization. Cross-chain swaps make people independent by providing a decentralized ecosystem for multi-blockchain exchange.
- Enhanced security. Cross-chain swaps employ HTCL smart contracts that ensure users with enhanced security and guarantee a refund if a conflict occurs or the first participant (sender) changes his mind for some reason. This way, the technology leaves no room for security concerns.
- Low-cost, peer-to-peer transactions. The use of centralized exchange involves high switching costs. Besides, you also need to do lots of formalities like finding a reliable exchange, getting registered, abiding by the terms & conditions, and so on. In contrast, Cross-chain swaps allow nodes to join the peer-to-peer blockchain network and exchange the tokens. It saves time and ensures low cost since no centralized entity controls the protocol.
- High flexibility. Cross-chain swaps achieve high flexibility by allowing the exchange of all tokens. Users don’t need to convert tokens into specific protocol-based tokens as they need to do in centralized exchanges.
Cross-chain swaps with StealthEX offer a great degree of freedom and independence. Basically, the mechanism behind the platform allows users to swap different crypto between two chains directly. If you’re tired of intermediaries and a long process of converting one coin to another, for instance, when trying to initiate a BNB to ETH swap, StealthEX should become your main swapper.
Convert ETH to BNB on StealthEX
If you’re looking for a cross-chain exchange or simply want to convert ETH to BNB and BNB to ETH right away, StealthEX is here for you. Our users can purchase cryptocurrencies using fiat and we still offer the opportunity to buy crypto at fixed rates.
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Please make sure to always research any cryptocurrency and assess your risks before you invest.cross chain cross-chain bridge cross-chain swap ETH to BNB Ethereum