How to you transfer your Crypto from one blockchain to another?
Daniil Okhlopkov
16 replies
Hey! I'm building the tool that simplifies the search of the most profitable & fast cross-chain any-to-any token transfers.
It would be so useful if you can answer two questions:
1. What tools do you use to move your funds between blockchains?
2. What do you dislike about them?
3. Why do you need tokens on another blockchain?
Replies
Ezzat Suhaime@ezzat
If you want to transfer from EVM to Cosmos chains, you could use Evmos. Cosmos is great because of IBC!
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I moved my money from Ethereum Mainnet to Polygon so that I can save on fees when trading or buying NFTs.
Also I like playing around with new L2s, so I use bridges from Polygon to Optimism, Arbitrum etc
Edit:
Actually Binance deposits are very random. E.g. they support Optimism for USDC, but they don't support it for USDT. On the contrary, some currencies are supported only on Polygon. It's painful to always check, but at least I can cheaply convert one from another
@caffeinum Thanks for the detailed answer. So you mainly use native bridges like https://bridge.arbitrum.io/ or https://gateway.optimism.io/?
@caffeinum Also why you chose the Polygon. AFAIK they and their DeFi are not stable and constantly have troubles caused by high transactions volume.
@okhlopkov no, actually I mostly use aggregators. Native bridges can be very long to withdraw, and don't support L2-L2 transfers
@jun_gong
Agreed! AnySwap and Celer are highly recommended for frictionless fund movement between blockchains.
🔗 While these tools are useful, I'm also concerned about the possibility of large gas fees and delayed transaction times if Tokens on another blockchain are required for immediately accessing unique features, participating in airdrops, or resolving loans.
What do you think, let me know!
I used sushi swap and pancake swap to move my fund, but I don't like that you have to set up your wallet to be able to swap on those platforms. In addition, they don't give back any of their profit to the users, unlike woox and gmx
@minh_dang_ngoc What do you mean by "have to set up your wallet"? Any Metamask or other decentralized wallet should be fine.
@okhlopkov I have to change to network and transfer the fee to the wallet. At the moment, C98 is the only wallet that auto-changed the network to the right one otherwise I have to double-check if I don't want to lose my fund.
@minh_dang_ngoc Thanks for the reply. Unfortunately, this is how crypto works right now. Most of the wallets change the network by large pop-up like "the platform asks to change the network". And yes, you need to pay miner fee to call a smart-contract method.
@okhlopkov Thank you for the insights. Hope that in the future we would have a better UI experience.
Hi Daniil,
Login to your Wallet
Go to the Send screen for the currency you wish to send.
Select Blockchain Exchange in the To address field. This will automatically generate your Blockchain Exchange address for this transaction.
Enter the amount and hit Send.
Enjoy!
I transferred my investment from Ethereum mainet to Polygon so I can save on fees when trading NFTs. I also get some help from https://cryptonodes.io/ for many interesting tips.
Very interesting to me. I have never invested in cryptocurrency. But now I am interested in it, because I see how the market develops. Recently I found the ICOholder platform where I, as a beginner, was interested to see the ratings of blockchain companies. And in my opinion it is a great help for investing.
💡 To transfer funds between blockchains, I use various technologies such as cross-chain bridges.
1) The Polygon Bridge, which allows for frictionless transfers between the Ethereum and Polygon networks, is one example of a cross-chain gateway.
2)The Binance Smart Chain Bridge, for example, enables transfers between Binance Smart Chain and Ethereum.
While these bridges have increased the accessibility of cross-chain transactions, there are still restrictions and complications that can be improved. Tokens on a different blockchain are required in order to access other decentralized applications and ecosystems that might not be accessible on the one currently in use.
🔥 Overall, the advancement of web3 technology and cross-chain protocols has created new opportunities for decentralized finance in the future.