Why Do I Have to Bridge My Cryptocurrencies?

Bridging your cryptocurrencies is essential when you need to move assets like USDT or BTC from one blockchain to another, especially when dealing with platforms like X4T, which only supports the Binance Smart Chain (BSC/BEP20). Each blockchain operates independently, so bridging ensures your assets are compatible with the network you're using.

For more on why different blockchains exist and their importance, refer to our article on blockchains and networks.

Multiple Ways to Bridge

There are various ways to bridge your cryptocurrencies, with multiple providers offering this service. Popular options include centralized exchanges like Binance or decentralized bridges that operate directly between blockchains.

Important Note

We highly encourage you to educate yourself thoroughly before using any bridging provider. The following tutorial demonstrates how to bridge using Binance. If you prefer to use another provider, please make sure to fully understand their process to avoid any risks.

How to Bridge to the Binance Smart Chain

Create a Binance Account:
- Sign up and complete any necessary verification steps.

Deposit Your Funds:
- Log in to Binance, go to "Deposit," select "Crypto Deposit," and choose your coin (e.g., USDT). Carefully follow Binance's instructions to avoid errors or loss of funds.

Select the Correct Network:
- Choose the network where your assets are currently held. This step is crucial.

Complete the Deposit:
- Finish the deposit process. Your funds are now in your Binance account.

Withdraw to Your X4T Account

Navigate to "Spot":
- On Binance, go to "Spot."

Locate the Currency:
- Find the currency you want to withdraw to X4T.

Initiate Withdrawal:
- Click on "Withdraw" and fill in the details.

Enter Withdrawal Information:
- Select the right coin, enter your X4T wallet ID (found at X4T under "Deposit" > "Crypto" on X4T.) Copy this ID and paste it onto binance and choose "BINANCE SMART CHAIN (BEP20)" as the network.

Specify the Amount:
- Enter the amount and initiate the withdrawal.

Congratulations, you have successfully bridged and withdrawn your funds to X4T!

Disclaimer

This tutorial is provided solely for informational and educational purposes and should not be considered as financial advice or an endorsement of Binance or any other third-party platform. X4T is not affiliated with, nor does it have any partnership with Binance. The steps outlined in this guide are subject to change and based on the functionalities available on Binance as of the date of this publication. X4T has no control over Binance's platform, including but not limited to its user interface, verification process, and network selection options. It is the responsibility of the user to conduct thorough research and comply with all verification and other requirements set forth by Binance or any other platform they may use. Failure to do so could result in the loss of assets or other adverse outcomes. By following this guide, you acknowledge that you are doing so at your own risk. X4T disclaims any liability for any loss or damage that may occur as a result of following this tutorial.

Updated on: 16/08/2024