Are you looking to trade or convert ETH (Ethereum) to BNB (Binance Coin)?
Or do you want to convert ETH to Smart Chain?
Swapping allows you to exchange one cryptocurrency for another.
Most cryptocurrency exchanges like Binance allow you to do this.
Binance is the most popular cryptocurrency exchange with very low fees.
So, it is highly recommended for both beginners and professionals.
However, you must create an account on the exchange before you can make a swap.
But don’t worry, creating an account on a cryptocurrency exchange is usually quick and easy.
In this guide, you will learn how to trade ETH with BNB using Binance exchange.
How to trade ETH to BNB
To exchange ETH for BNB, you must first download the Binance app and create an account.
Then, deposit your BNB into your BNB wallet on Binance and go to the “Convert” page.
On the “Convert” page, you will be able to trade ETH to BNB at once.
At Binance, there are no trading fees.
In other words, no fees will be charged when exchanging one cryptocurrency for another.
However, there will be a spread, which means that the cryptocurrencies you are trading will be higher than the market price.
After trading Ethereum for BNB, you can then withdraw your BNB to the desired wallet.
1. Download the Binance app and create an account
To trade cryptocurrencies, you need to create an account on a cryptocurrency exchange like Binance.
Most exchanges have a converter that allows you to exchange one cryptocurrency for another.
Binance is highly recommended due to its low rates and 24/7 support.
First, open the App Store or Google Play Store and download Binance.
Alternatively, you can use Binance on your desktop.
After downloading Binance, open the app.
If you use Binance on your desktop, use the referral link above to create an account.
After opening Binance, tap on the “Sign Up/Sign In” button.
Then, tap “Register” to open the registration page.
On the registration page, enter your email address.
Then, choose a password that contains a combination of uppercase letters, lowercase letters, and numbers.
Then, tap on the “Reference ID (optional)” header to expand it.
Copy “73583477” and paste it into the “Reference ID” field.
Finally, verify your email address to complete the account creation process.
2. Deposit ETH into your ETH wallet at Binance
The second step is to navigate to your ETH wallet on Binance.
This is because you need to deposit ETH into your ETH wallet at Binance to exchange it for BNB.
In this guide, we will use the Lite version of Binance.
If you are not on the Lite version of Binance, tap on the profile icon, then tap the switch on “Binance Lite” to enable it.
Once you’re on Binance Lite, tap on the wallet icon in the bottom navigation bar.
This will open your Binance wallet.
Then, tap on the “Deposit” button under the total balance.
After tapping on the “Deposit” button, you will land on the “Choose Currency” page.
On the “Choose Currency” page, you will see a couple of tabs including “Fiat” and “Crypto”.
By default, you will be in the “Fiat” tab.
Tap on the “Crypto” tab to open a list of cryptocurrencies that you can deposit.
In the search bar, search for “Ethereum” or “ETH”.
Finally, tap on “ETH (Ethereum)” to open your ETH wallet on Binance.
After tapping on “ETH (Ethereum)”, you will land on the “Deposit ETH” page.
On the “Deposit ETH” page, you will see your ETH address.
Your ETH address is located under the heading “ETH Deposit Address”.
Under the “ETH Deposit Address” heading, tap on the duplicate icon to copy your ETH deposit address.
Then, send your Ethereum from your other wallet to this address.
For example, if your Ethereum is on Metamask, you need to transfer it to your ETH wallet on Binance.
You can learn how to do it by reading this article.
Simply put, you need to go to the “Send ETH” page on Metamask, Trust Wallet, etc. and paste your binance ETH address.
3. Tap “Convert”
After sending your Ethereum to your Ethereum wallet on Binance, you will be able to exchange it for BNB.
First, tap on the reverse icon in the bottom navigation bar.
After tapping on the reverse icon, a navigation menu will open.
In the navigation menu, you will see multiple options including “Buy”, “Sell”, “Deposit” and “Convert”.
Tap “Convert” to go to the “Convert” page.
4. Convert BNB to ETH
After tapping on “Convert”, you will land on the “Convert” page.
On the “Convert” page, you will see a couple of fields including “From” and “To”.
First, tap on the “From” field.
This will open a list of cryptocurrencies from which you can convert.
Search for “ETH” and tap “ETH (Ethereum)” to change the “From” field to “ETH”.
Secondly, tap on the “A” field and search for “BNB”.
Then, tap “BNB” to change the “A” field to “BNB”.
Thirdly, enter the amount of Ethereum you want to trade with BNB.
Make sure you have enough ethereum or the transaction will fail.
Finally, tap on “Preview Conversion” followed by “Convert” to exchange your ETH for BNB.
After exchanging ETH for BNB, you can send the BNB to another wallet.
You have successfully exchanged your ETH (Ethereum) for BNB (Binance Coin)!
Before you exchange one cryptocurrency for another, you need to know a few things.
First, you need to check the exchange fees.
Some cryptocurrency exchanges charge a very high exchange fee.
Also, you need to check the cryptocurrency pair you want to trade.
Transactions are final and cannot be restored.
Finally, when sending your exchanged cryptocurrency, make sure you send it to the right wallet.
Sending your cryptocurrency to the wrong wallet could lead to a loss of funds.