Bridging Binance Smart Chain tokens to Avalanche C-Chain is easy.
Even though Binance is among the best crypto exchanges with cheap transaction fees, Avalanche has proved to more cheaper.
Binance is an influential player in the space, while Avalanche is a framework for DApps that supports open and programmable smart contracts.
In this guide, we will outline how to bridge BNB from Binance Smart Chain to Avalanche AVAX.
Let’s get started.
How to bridge BNB to AVAX
Alternatively, you can use a Web 3.0 wallet, but to make things easier, we will use the multi-chain DEx on your MetaMask.
MetaMask is an ideal wallet for dealing with Avalanche network, and many users prefer to connect their BNB to Metamask.
Meanwhile, Synapse has grown significantly among those connecting Binance to AVAX Bridge.
The best way to bridge from BNB to AVAX with Metamask account is through Synapse, a bridging protocol with access to all blockchains.
It allows users to quickly swap tokens between chains with ease, so follow these steps below to safely swap BNB to AVAX.
- Open you MetaMask wallet account
- Change the network to BSC
- Now visit the Synapse protocol
- Select ‘Connect MetaMask Wallet’
- Click ‘Binance Smart chain’
- Then ‘Avalanche’ under network
- Enter the amount of BNB to bridge
- Press ‘Approve USDC’ and follow the prompts.
After about 2 minutes, the BNB token you sent should arrive on the Avalanche Network in your MetaMask wallet account.
If you want to check, simply open your MetaMask wallet select Avalanche network and you will see your funds.
How much does it cost to bridge from BSC to AVAX?
When bridging your BNB to AVAX, from the Binance Smart Chain to the Avalanche C-Chain, you will need to consider some fees involved.
This include the fee to deposit BNB into MetaMask, and transfer of token from Binance Smart Chain to Avalanche C-Chain.
Both transactions will cost up-to $50 USD to move funds over to the AVAX network.
However, once your funds gets vridged to the Avalanche network, the transaction cost reduces to 1 cent per transaction.
The gas fees on the Avalanche network are considerably lower than the fees on the Binance Smart Chain network.
Why Consider the AVAX Bridge?
As Binance chain is designed to power all of its future decentralized products, there’s a need for these blockchains to communicate with each other.
The first step in this process is to create a one-way bridge, which enables a chain-to-chain transaction at a given price.
Now your turn
Binance Smart Chain is exploring a one-way bridge between Binance Coin (BNB) and the Avalanche Network.
This bridge will function as a one-way transfer from BNB to AVAX.
Once the bridge is fully operational, Binance will be able to seamlessly deposit BNB on the Avalanche and use it to power Binance DEx.
Another widespread practice in the crypto world is swapping coins, and knowing how to swap AVAX for BNB and vice versa.
The major reason why they do that is to use BNB for transaction, fundraising with many other benefits.
It also allow users to know the current exchange rate, when swapping BNB for AVAX, or AVAX for BNB among other currencies.
The instruction on how to swap AVAX for BNB is pretty simple.
You can use a platform such as LetsExchange to exchange your available currency for your preferred coins.