Community Forex Questions
What is Binance bridge?
Binance Bridge allows you to convert assets between blockchains. Select the assets you would like to migrate from MetaMask or Binance Chain Wallet and connect them. Remember that BNB is required for BSC and ETH is required for Ethereum as a gas fee .
Website https://www.binance.com/en/blog/ecosystem/introducing-binance-bridge-20-421499824684903626
Website https://www.binance.com/en/blog/ecosystem/introducing-binance-bridge-20-421499824684903626
Binance Bridge is a tool developed by Binance that enables users to transfer assets across different blockchain networks, making them compatible with Binance’s ecosystem, especially the Binance Smart Chain (BSC). Through Binance Bridge, users can convert cryptocurrencies like Bitcoin, Ethereum, and others into Binance-pegged tokens on BSC, allowing for easier access to decentralized applications (DApps), DeFi services, and lower transaction fees.
By bridging assets, Binance Bridge helps bypass the limitations of native blockchain compatibility, enabling interoperability and expanding the range of available trading and staking opportunities. Users deposit their original coins to the bridge, and Binance issues an equivalent amount of pegged tokens on BSC. This tool is particularly valuable for DeFi users seeking lower fees without sacrificing exposure to various blockchain assets.
By bridging assets, Binance Bridge helps bypass the limitations of native blockchain compatibility, enabling interoperability and expanding the range of available trading and staking opportunities. Users deposit their original coins to the bridge, and Binance issues an equivalent amount of pegged tokens on BSC. This tool is particularly valuable for DeFi users seeking lower fees without sacrificing exposure to various blockchain assets.
May 24, 2022 09:07