How to load ronin wallet using binance
Will Ronin become the go-to blockchain for gaming? Only time will tell. Games require fast and cheap transactions in order to scale and facilitate the thousands if not millions of micro-transactions that happen daily. The user experience has to be seamless and enjoyable. Things had to change if Axie Infinity was going to grow and cater to millions of players.
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- The Leader for Cryptocurrency Tracking and Tax Reporting
- Send SLP and AXS From Binance To Ronin | Tagalog Tutorial
- How to get started with Axie Infinity in the Philippines?
- How to Buy and Stake AXS (Axie Infinity token)
- How to get started with Axie Infinity
- What is the cheapest way to transfer ETH from Binance to Ronin (Axie Inifity related)
- How to sell Smooth Love Potion (SLP)
- Discover crypto, built on top of the world’s most powerful exchange.
The Leader for Cryptocurrency Tracking and Tax Reporting
Besides finding a way to get the assets you also need to send them over to the Ronin sidechain where the Axie Infinity game lives in order to use it. From the name of this section you might be wondering, what the heck is WETH? Ronin is a different blockchain that has a lot of similarities with Ethereum but has no native cryptocurrency.
Note: If you want to learn more about the Ronin sidechain you can read another of my articles here. Because Ethereum and Ronin are two different blockchains you will need different wallets to interact with them.
On Ethereum you can find multiple choices of wallets to interact with the network being Metamask the most popular of them. The Ronin wallet can be found in the Chrome marketplace and installed as an extension on any Chromium based browser Chrome, Brave, etc. To purchase WETH you will need to connect your Ronin wallet to the dapp, provide personal information to create an account you only have to do it once and use a credit card to purchase the amount of WETH needed.
Once the purchase is done, the WETH should become visible in the Ronin wallet and will be ready to be used in the Axie marketplace. Figure 2. Update: Binance has created a direct integration with Ronin so now you can withdraw funds from Binance directly to your Ronin wallet address and viceversa. This is by far the cheapest option if you have an account on the exchange. Attempt one of the solutions listed below only if you are unable to create an account on Binance.
Check out the announcement and the instructions here. For this method you will need to have an account in a centralized exchange that is able to connect to your national banking system.
Because I live in Canada my preferred choice is Newton but you can use any other exchange. As in any exchange the first step is to deposit funds from your bank to the exchange and purchase the amount of ETH that you are planning to use on Axie Infinity. The bridge is nothing more than a smart contract that when executed takes the amount of ETH sent and mints the same amount of WETH on the Ronin network and associates those tokens to your Ronin wallet.
Using the Ethereum network can be very costly and if you are not careful you might spend more money on fees than on the purchase of the asset ETH in this case. The best way to check how much this process will cost you is by using a gas tracker. Figure 5. Example of cost estimation for different types of transactions on Ethereum. All these costs are going to be relevant in this article.
For the particular way of sending ETH to Ronin that we are discussing in this section we only care about the fees of sending ETH from an exchange to Metamask and the fees of using the Ronin bridge. We now know how to transfer ETH over to Ronin. Depending on the exchange you use you might be able to buy them directly on the exchange but then again you might not. SLP on the other hand is not even listed. Which one of the following two methods you should use will depend on the availability of those ERC20 tokens on your exchange of choice.
If you are lucky you might be able to directly buy AXS and SLP from your exchange and in that case the process is very similar to the second method described for moving Ethereum over to Ronin described before method 1.
Figure 6. The only difference from the process described in figure 3 is the cost of moving the ERC20 token to Metamask compared to the cost of moving ETH. The final method is probably the worst case scenario when it comes to complexity and fees. If you are unable to buy the ERC20 token directly from your exchange you can use Binance as a middle man to get the tokens.
For this to work you will need to have an account there. The first step is to buy ETH on the exchange and transfer it over to your wallet on Binance. After that the rest of the steps are the same as before. The real cost will depend on the price of gas when you decide to start the process and how much of the withdrawal cost is your exchange willing to absorb. This is probably due to the fact that SLP is still a small cap cryptocurrency and Binance treat those tokens differently.
Instead I turned to Uniswap. Use this as a last resort if you are unable to use Binance to get SLP. When using any of the methods described, except the first one, you have to keep an eye on the price of gas to avoid nasty surprises in the amount paid in fees.
Holding for the long term crypto assets on a hot wallet like Ronin is a security risk as your machine could be compromised with malware. Luckily the Ronin wallet supports integration with Trezor , a hardware wallet, so the private key that controls all your crypto assets WETH, SLP, AXS and your Axies is securely stored offline but able to interact with Axie Infinity upon your explicit approval of every transaction.
To withdraw money from Ronin you simply have to follow the steps in reverse order until you get back to your exchange. This could simplify the process of buying the assets but I doubt it will help with the withdrawals. I guess we just have to wait and see. Super useful post, David — you filled in a few blanks for me — much appreciated!. I was relying on information from coinmarketcap. The fee for sending the AXS to my wallet was 0. This site uses Akismet to reduce spam.
Learn how your comment data is processed. Skip to content. Method 1. Sin ser experto sigo con atencion tus publicaciones.
Great article David. Tengo una pregunta. Another thing, what could be another alternative once Binance leaves Ontario? How about swapping eth for weth on uniswap, and sending weth directly to Ronin. Is it possible? Leave a Reply Cancel reply. Loading Comments Email Required Name Required Website. Sorry, your blog cannot share posts by email.
Send SLP and AXS From Binance To Ronin | Tagalog Tutorial
Binance Smart chain is gaining popularity as an Ethereum alternative mostly because of the cheaper transaction fees. Transactions are significantly cheaper, and the user experience is similar, if not even better. Binance smart chain is a fork of Ethereum blockchain. That means every Dapp that runs on Etereum could run on Binace smart chain, and we can use MetaMask wallet. The blocks of the Binance chain are twice bigger and faster with only 5 second block time. We will install Binance smart chain extension wallet and then transfer funds to it from a wallet we got BNB tokens.
How to get started with Axie Infinity in the Philippines?
Withdraw slp from metamask. After that, you can transfer the token back to Binance or any other BEP20 address. As we do, we just go to Binance, then wallet, and then Fiat and Spot and look for SLP then click deposit, we will deposit from Ronin … Answer: First of all, for the simplest experience with future withdrawals, you can select your Transfer Network on Binance to be the "Ethereum ERC20 " option, which will allow your assets to be easily viewed on MetaMask. Metamask is also You can withdraw any crypto in your MetaMask to Binance. Next i go metamask trezor account open, and do a send. This section describes how to get some free Ether form faucet. Create a new account.
How to Buy and Stake AXS (Axie Infinity token)
The biggest cryptocurrency exchange in the world when it comes to trading volume, Binance, is now supporting Axie Infinity through the direct integration of the Ronin wallet to its exchange. Withdrawals for the Ronin network became open last September 4, Right now, Ronin to Binance is free. It will show this notice:.
How to get started with Axie Infinity
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What is the cheapest way to transfer ETH from Binance to Ronin (Axie Inifity related)
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How to sell Smooth Love Potion (SLP)
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Discover crypto, built on top of the world’s most powerful exchange.
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Senkyu, useful info! ;)
Bravo, seems to me, is a brilliant phrase