This guide will help you swap your $CAN tokens from legacy Ethereum-based (ERC-20) tokens to the new Binance Chain (BEP2) tokens.
Overview
The CanYaCoin conversion from legacy Ethereum-based (ERC-20) tokens to Binance Chain (BEP2) tokens takes place on Binance.com
The procedure is simple:
- Deposit ERC-20 tokens to an ETH address on Binance.com
- Withdraw BEP2 tokens to a Binance Chain address
This guide takes you through this process in 5 steps.
Before you begin
- Please familiarise yourself with the instructions before attempting to swap tokens
- Please familiarise yourself with the differences between your current exchange and the Binance DEX.
- If in doubt, perform a successful test with small amounts before swapping a large number of tokens
- Secure and backup your new Binance Chain wallet. Neither Binance or CanYa can recover lost wallets
You will need a Binance Chain Wallet
If you haven’t already set up a Binance Chain wallet and explored the Binance DEX (Binance.org), then check out the ‘Setting up a Binance Chain wallet’ guide before you proceed.
You will also need an account on Binance.com
The conversion from ERC-20 to BEP2 happens on Binance.com — the original Binance centralised exchange. This is distinct from, and not to be confused with, the Binance DEX (Binance.org). If you don’t have a Binance.com account, create one before you proceed.
*** You will NOT be able to withdraw $CAN using the Binance MOBILE APP. You will need a desktop connection***
Step 1 — Get ETH Deposit Address from Binance.com
At this step, you will get the ETH address to deposit your $CAN tokens on Binance.com.
- Login to your Binance.com account
- Select “Wallet”, then “Exchange Wallet”
- Click “Deposit”
- Select Ethereum
- Select ERC20 Network
- Copy ETH Deposit Address (starts with 0x)
Step 2 — Send $CAN tokens to ETH Deposit Address
At this step, you will send your $CAN tokens to the address gained in the previous step.
- Go to your Ethereum wallet and send your ERC-20 $CAN tokens to the copied ETH Deposit Address
Yes, you are sending ERC-20 $CAN tokens to an Ethereum address at Binance.com!
- Confirm the Deposit back on Binance.com deposit screen
Step 3 — Get your Binance Chain Wallet Address
At this step, you will get your Binance Chain wallet address — which is the new home of your $CAN tokens.
If you haven’t already created a Binance Chain wallet, you can create an account on Binance DEX or Trust Wallet — it will give you a BNB wallet address.
- Connect to your Binance Chain wallet
- Copy Binance Chain wallet address (starts with ‘bnb’)
Step 4 — Withdraw from Binance.com
At this step you will withdraw $CAN tokens from Binance.com to the wallet gained in the previous step.
- Go back to Binance.com
- Click “Wallet”, then “Withdraw”
- Select CAN — CanYaCoin
(You will not see CAN withdrawals until after you’ve made a CAN deposit) - Select BEP2 Network
- Paste your Binance Chain wallet address (starts with bnb)
- The MEMO field is not required
- Submit your Transaction
Yes, you are withdrawing BEP2 $CAN tokens to a Binance Chain address!
Note: There will be a withdrawal fee so your token conversion will not strictly be a 1:1 ratio.
Step 5 — Confirm withdrawal
At this step, you will confirm the withdrawal of your new BEP2 $CAN tokens on the Binance Chain.
Note: This initial withdrawal can take more than several minutes. Please be patient.
- Go to the Binance DEX or your Trust Wallet and view your balance
That’s it!
TROUBLESHOOTING
Need some help? Come join the CanYa community Telegram channel.
Or hit us up on any of the links below:
Links:
- Telegram Announcements: https://t.me/canyacoin
- CanWork: https://www.canwork.io/
- Twitter: https://twitter.com/canyacoin
- Facebook: https://www.facebook.com/CanYaCoin/
- Medium: http://www.medium.com/CanYaCoin/
