Best DeFi Bridges: Move Assets from ETH to BSC, Polygon & Vice Versa

What is BSC to ETH bridge?


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How to Move Assets from Ethereum to BSC


Before we get started – if you’re in the US, your First Amendment rights don’t yet extend to moving value from one blockchain to another. Should you wish to attempt any of the following, you will need to be behind a VPN. There are dozens of free browser extensions here, so take your pick. This week I’m mainly using KProxy and, with much constitutional irony, I’m pretending to be Canadian.

This unnecessarily awkward process is thus. At the top of the MetaMask wallet, click “Ethereum Mainnet” and select “Custom RPC” at the bottom of the dropdown list. To add Binance Smart Chain Network as an option, enter the following details – 

  • Network Name – Binance Smart Chain
  • New RPC URL – https://bsc-dataseed.binance.org/
  • Chain ID – 0x38
  • Currency Symbol – BNB
  • Block Explorer URL https://bscscan.com/

Once you click save, Binance Smart Chain will be listed in the network options. All these details are available here on the Binance website, along with more thorough instructions. 

Like I said before, this bridge should just happen automatically without all this messing about. How on earth do DeFi platforms expect to become mainstream when you need most of an afternoon and an undergraduate degree in computing to make them work? The first universal wallet that completely does away with all this nonsense will have a huge advantage. 

Regardless, once your wallet is set up with BSC as a network option, you can make the transfer. Choose –

  • The asset you would like to move 
  • The source network (Ethereum) 
  • The target network (Binance Smart Chain) 
  • The amount

You will need to confirm both on the Binance Bridge page and your wallet, and the transfer should take around 10-15 minutes. Pro-Tip – You may need to refresh your wallet if it gets confused about whether to display BNB or ETH.

Visit Binance Now

How to Move Assets Back from BSC to Ethereum


Bridge and Swap for Binance Chain and Binance Smart Chain


You may have noticed that there are two Binance chains. The one we’ve been using so far is Binance Smart Chain. So what’s Binance Chain all about? It’s worth knowing so you don’t send tokens to the wrong chain and end up losing them. 

The more recent Binance Smart Chain (BSC) is the proprietary blockchain network Binance uses to interact with the DeFi world. It’s EVM compatible (Ethereum Virtual Machine) so it can understand and execute Ethereum smart contracts. BSC can easily onboard platforms built on Ethereum and offers much cheaper and faster transactions. 

You can move your crypto between the Binance DEx and the BSC chain by selecting the appropriate source and target networks. 

BSC To Polygon Bridge: How to Move Assets from BSC to Polygon Network (Matic)


Your Metmask wallet address should automatically appear in the receiver address box, but it’s a good idea to check this manually to avoid disaster. Once you are sure, click “Swap” and another window will open where you can choose how much of your chosen stablecoin you wish to transfer. 

Once the transfer is complete, you need to select your target network on Metmask to view the tokens in your wallet. This is important! The first time I went through this process, I couldn’t see the tokens in my wallet and thought I had made a fatal error! 

How to Move Assets from Ethereum to Polygon


Polygon has built its own Bridge to move tokens cross-chain to their Matic network. You can find it here. Upon opening the page, the drill is the same as all the other bridges. You connect your Metamask wallet and the bridge main window appears. Enter the usual info – source and target network (Ethereum and Matic), Token, and amount. You can move ETH or any ERC20 token you have in your wallet. 

Best DeFi Bridges


Rubic


Rubic is the premier Multi-Chain Protocol, enabling swaps between about 10,000 assets, on and between the Ethereum, Polygon, BSC, Avalanche, Moonriver, and Fantom blockchains. It all happens in one click while granting you better rates and lower fees. Cooperating with numerous DEXs for expanded exchange options allows Rubic to choose the best rates for their users, so they rest easy while getting the lowest possible transaction fees.

Rubic integrates one new blockchain for Multi-Chain Swaps on a monthly basis. Recently, Rubic integrated Moonriver (November 8th) and  Fantom (November 18th).

The swap process is very simple, as users don’t have to take part in endless transactions in order to get their desired assets. The only con is that, like every similar protocol, there exists the possibility of a transaction’s reversion, due to changes in exchange rates. Despite this occasional network-based issue, Rubic remains the most reliable way to swap your assets across chains, and their growth is still only beginning.

WhalesHeaven


What’s interesting about WhalesHeaven is that it’s a multi-asset multi-chain DEX that can be looked at as an auction platform, where you’d be able to sell and/or buy tokens from and to various blockchains, and what that also means is that it’s an effective bridge between these different blockchains. For example, you’d be able to swap your BTC for other tokens on the Ethereum, Tron, BSC, AVAX network, and future blockchains that would be added to the platform. Another example, regarding the bridging process, would be swapping your USDT that’s on the Ethereum network for USDT on BSC.

All trades/swaps are conducted in a non-custodial multisig method, which means that there are 0% withdrawal fees, and transaction fees would be at their lowest because of the specific technology they’re using. Once the buyer and seller agree on what they want to trade, the swap happens and everyone got what they desired, be it a different token on a different blockchain, or the same token but on a different network.

Multichain


Zeroswap


Anyswap


Nerve


Centralized Exchanges 


As I mentioned before, technology like Cross Chain Bridges should not even be visible to the user. It should be integrated into wallets and DExs so the customer does not have to consider on which blockchain their assets sit. Currently, the technology is for enthusiasts and early adopters. By the time it becomes mainstream, there’ll be better solutions.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Sarah Wurfel

Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

1 Comment
  1. Umbria Narni bridge is also a fast and inexpensive DeFi bridge option. It bridges selected assets from ethereum to polygon, bsc, fantom, and avalanche. Smaller project, but has a responsive, doxxed team of devs. Worth a look

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