Popular currencies – both BNB and ETH – are now more utilized than ever. 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 and is thus imperative to have some in order to perform certain transactions.
As such, this creates the need to exchange ETH for BNB in certain situations. That is what we’ll be covering today – how to swap ETH for BNB. If that sounds useful to be consumed by you, continue reading to learn more!
Can I Buy BNB using ETH?
Investors and on-chain traders cannot directly swap ETHereum (ETH) to BNB on the Ethereum network. This is because BNB does not have an Ethereum wrapped version of their token on the ETH mainnet. This ultimately means that users will need to bridge to BNB Chain (formerly Binance Smart Chain) to acquire Binance Coin (BNB).
There is no way to directly bridge ETHereum (ETH) to BNB through a trusted cross-chain decentralized exchange (DEX). The only way to swap ETH to BNB is by swapping ETH to a stablecoin like USDC or USDT, then bridging it to BNB Chain to swap it for BNB. We recommend Synapse to bridge from the ETH network to BNB.
How to Swap ETH for BNB?
The easiest way to convert ETH to BNB is by using a cross-chain exchange like Synapse or Allbridge to move your tokens from Ethereum Mainnet to BNB Chain. You can follow this simple guide to get started:
- Step 1: Deposit your ETH to a Metamask Wallet or other Web3 Wallet.
- Step 2: Swap ETH for USDC on a DEX like Uniswap (V3).
- Step 3: Visit Synapse Protocol and bridge your USDC to BUSD (a Binance native stablecoin) from ETHereum Mainnet to BNB Chain.
- Step 4: Visit PancakeSwap and swap your USDC for BNB.
Once you complete the transaction, the BNB will be automatically stored on your Web3 Wallet on the BNB Chain (Binance Smart Chain).
ETH to BNB Swap Fees
The fees to convert ETH to BNB with the bridging method will cost up to $30 for all transactions. If you are looking to swap BNB to ETH (the other way around), it will be much cheaper and cost a maximum of $1. The price difference is because BNB runs on a cheaper Proof-of-Stake network compared to Ethereum Mainnet.
Summary
Congratulations, you have learnt how to swap ETH for BNB in less than 5 minutes! If you have done these steps carefully, your ETH should be swapped into BNB and the amount should be added to your wallet. That’s all you need to know about the ETH to BNB conversion process!
