Dear Chilizens,
Recently, Binance announced a new feature which allows both interoperable deposits, and withdrawals. This allows users to, for example, deposit BEP-2 $CHZ and withdraw ERC-20 $CHZ and vice versa.
We recommend storing your cryptocurrency on Trust Wallet, which has support for both Ethereum and Binance Chain. The following guide is written for the Binance desktop web; mobile users may not be able to withdraw tokens as ERC-20.
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Steps on converting BEP-2 $CHZ to ERC-20 $CHZ:
Note: Make note of what type of $CHZ you have, as you will have to select either BEP2 or ERC20 when depositing.
Depositing
- Find Chiliz/CHZ in your Binance.com wallet, or click here.
- On the right-hand side, select the network (BEP2 — Binance Chain, ERC20 — Ethereum).
Note: When depositing to a BEP-2 address, you are required to use a MEMO, this is not needed if you are depositing ERC-20 CHZ.
3. On your wallet, first, enter the memo displayed on the Binance.com deposit page. If using Trust Wallet, you can scan the memo QR code. Repeat this for the deposit address.
4. You should now have received a deposit confirmation email that looks like the one below. If not, understand that deposits to Binance require a number of on-chain confirmations which can take some time. If you require assistance at any time, we recommend contacting Binance support.
Withdrawing
5. Once the deposit confirmations are complete, locate Chiliz or CHZ in your Binance.com wallet and press withdraw.
6. Here is the key part! Remember, this feature is currently not available on Mobile and will require you to browse Binance.com on a Desktop. If you have followed the steps correctly, you should be presented with a page that looks like the one in the screenshot below.
7. Where it says ‘Select Network’, the box highlighted in the screenshot below, press ERC20. This will enable you to withdraw your CHZ as ERC20, to either the Socios.com app or to any Ethereum supporting wallet.
Congratulations! You are now able to send your $CHZ to your Socios.com wallet. Note: Tokens cannot currently be withdrawn from the Socios wallet; this functionality will be implemented in Q1/Q2. Additional levels of KYC will also be required to withdraw based on different limits which you can read more about here: http://bit.ly/SociosKYC
If you have followed this guide, yet are still unable to withdraw ERC20 $CHZ, please join our help Telegram group: https://t.me/ChilizHelp and we will try to assist you as much as possible.
