How to Convert ETH to BNB
Both BNB and ETH, popular currencies, are now more trendy than ever.
Besides Bitcoin (BTC) and its evident impact on the crypto world, ETH and BNB are real game-changers.
BNB, Binance Coin, is the native cryptocurrency used by the biggest exchange in the world, Binance.
On the other hand, ETH, Ether, powers the Ethereum blockchain, so it’s imperative to have some ETH in order to perform certain transactions in crypto exchanges.
This creates the need to exchange Ethereum to BNB in certain situations.
BNB tokens are useful in many scenarios, so if you need to make a swapping transaction, you better know how to handle it.
In today’s blog post, we are going to cover all you need to know about the following matters:
- How to convert ETH to BNB;
- Checking ETH to BNB exchange rates;
- Best ways to easily convert ETH to BNB on main exchanges.
3 Things You Must Know about Ether and Binance Coin
ETH vs. BNB: is one better than the other? It depends.
BNB runs on the Binance Smart Chain (BSC), a blockchain network with low fees and many advantages.
Nevertheless, the ETH currency and its native network have managed to attract millions of projects and coins by offering stability.
Read Also: Storing each token you have in a safe environment is more than necessary.
Before you deposit your assets in just one wallet, we highly recommend you perform deep research.
Check our MetaMask vs. Trust Wallet article so you can make a firm decision.
1. ETH vs. BNB: Face to face
The Binance Chain (BSC) is light, fast, and cheap. Trading fees and BNB rates are among the lowest in the community.
Likewise, high liquidity on exchanges that trade ETH has standardized Ethereum practices all over the world.
Both assets are indeed useful for specific purposes, so if you want to swap Ethereum to Binance Coin, just do it!
Get more information regarding the market cap and total supply of this cryptocurrency pair at CoinMarketCap.com.
2. Keep an Eye on the ETH/BNB Exchange Rate
When you swap ETH to BNB, you need to look for the best rates before processing the transaction on a cryptocurrency exchange.
The BNB conversion rate might highly vary depending on many factors related to the market.
Thus, before performing any transaction where you swap ETH to BNB or vice versa, compare multiple exchange options first.
3. Where Can I Exchange ETH to BNB?
You can’t perform an ETH to BNB exchange on all platforms out there.
For instance, Coinbase does not support Ethereum to BNB swaps.
On the other hand, the Crypto.com exchange, which has proven to be very useful for many cryptocurrency-related transactions, does accept users to swap ETH to BNB.
Nonetheless, the fees are usually high on your account.
So, what’s the case with non-custodial wallets?
Well, since Trust Wallet runs on the BSC network, it does not support a swap ETH to BNB ( rookie mistake!).
MetaMask, on the other hand, runs on the Ethereum blockchain.
Of course, you could just Add Binance Smart Chain to MetaMask and perform the swap of Ethereum to BNB in a decentralized environment, but then again, the fees won’t be friendly to you.
That leaves us with a well-known alternative: the Binance exchange.
Binance is the creator of the Binance Chain and BNB, so the absolute best place to exchange ETH to BNB is Binance without a single doubt.
Pro Tip: Coinbase does not perform BNB-related transactions, but that doesn’t mean it’s a bad exchange.
You can compare Binance vs. Coinbase on our related blog post so you can get more information about the features on both exchanges.
How to Convert ETH to BNB
The process we are about to perform consists of sending the ETH currency you have to Binance cryptocurrency exchange, and then swapping it for BNB.
Since Binance has the most advantages when it comes to this process, it’s better to do it here than anywhere else.
Step 1: Set Up a Binance Exchange Account
Sign in to Binance, set up your account, and find your Binance wallet ETH address.
If you are struggling to find the wallet address of a specific coin, read our Binance Wallet Address blog post to learn more about this.
Step 2: Send ETH to Binance ETH Address
Locate the ETH address on Binance, and send all the Ethereum (or the amount of crypto you want to swap) to it.
Make sure that you are using the correct address. Otherwise, you might end up losing your funds during the coin transaction.
Step 3: Go to the Conversion Option on Binance
Then again, deposit the exact amount of Ethereum you want to swap on Binance. You will be able to see your Ethereum funds on your Binance profile.
Now, you must go to Binance Convert.
Here, users can pick the token trading pair they want in order to swap it for other tokens within just minutes.
Naturally, you must select the Ethereum / BNB pair in order to proceed.
Step 4: Convert Ethereum to Binance Coin
Once you are on the “Convert” screen and have selected the Ethereum / BNB pair, type in the amount of tokens you want to swap.
Binance will give you the option to preview the conversion before processing it, which is really useful so you understand the fees you will be paying during the transaction.
Confirm your decision, and that’s it - you have just swapped ETH to BNB!
The resulting BNB will be stored on your Binance wallet until you decide to move them out there (or cash them out - it’s your choice).
That’s all you need to know about the Ethereum (ETH) to BNB conversion process! For more useful crypto insights, constantly check GrowFollowing.
Swap ETH for BNB FAQ
Can You Swap ETH for BNB on Trust Wallet DEx?
No, you can’t. Although swapping tokens on Trust Wallet’s DEx is possible, the ETH/BNB trading pair is not available directly on the app.
That’s why it’s imperative to do this via a centralized environment instead.
Is Crypto.com Better than Binance?
It depends on your needs. Both exchanges are helpful and safe, but it is clear that Binance has more options when it comes to coins and assets.
Check out our Crypto.com vs. Binance guide to get more insights about this topic.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.