Can I Swap ETH to BNB?
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).
How to swap ETH to BNB on BNB Chain
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.
Ethereum to BNB Conversion Rate
The chart below is the live conversion rate of ETH to BNB. The number reflects the amount of BNB you can buy with 1 ETH.
What is Ethereum (ETH)?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference.
These apps run on a custom-built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and, many other things that have not been invented yet, all without a middleman or counterparty risk.
The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.
What is Binance (BNB)?
Binance is a blockchain ecosystem comprised of Exchange, Labs, Launchpad, and BNB Chain. Binance Exchange is one of the most popular and fastest-growing cryptocurrency exchanges in the world. Founded in 2017, Binance has quickly risen to become one of the largest exchanges in terms of trading volume and users.
Binance Labs is the venture arm of Binance, investing in early-stage blockchain projects. Labs provide the resources, network, and expertise that entrepreneurs need to grow their businesses.
Binance Launchpad is the exclusive token launch platform of Binance, providing transformative projects with access to fundraising, education, and industry resources.
BNB Chain is a centralized fork of Ethereum that has fewer network validators, which makes it less secure, but cheaper to transact on. BNB Chain has become one of the most popular chains in the world, securing over $20 billion in value.