Ethereum and Binance (BSC) blockchains | CoinLoan Help Center (2024)

FAQs

Why can't I send my USDT asset from Coinbase Wallet and saying your asset is on BNB Binance Smart Chain Network? ›

Since your USDT is currently on the Binance Smart Chain (BSC) network, you won't be able to transfer it directly to Coinbase as Coinbase doesn't support the BSC network. However, you can use a bridge or exchange to swap your BSC USDT for Ethereum-based USDT, which Coinbase does support. Here's a step-by-step guide: 1.

BSC utilizes the Proof of Staked Authority (PoSA) consensus mechanism, which enables quicker block times and lower transaction fees. Ethereum, initially based on Proof of Work (PoW), is transitioning to Proof of Stake (PoS) with Ethereum 2.0.

Transferring tokens between Ethereum and Binance Smart Chain (BSC) is indeed possible and can be accomplished using various methods. Cross-Chain Bridges, To facilitate the transfer of tokens between Ethereum and BSC, you can utilize cross-chain bridges.

In some situations, accounts may be temporarily restricted from sending cryptocurrency off the Coinbase platform for a period of time. Other restrictions may also apply, depending on our internal security and risk assessment.

When cashing out your crypto, depending on the payment methods available to you, you can either transfer, "cash out" your funds to your bank, or leave your cash balance for future crypto purchases. Coinbase does not limit selling crypto to your cash balance.

​​Binance Chain Wallet

Binance Chain Wallet is the official wallet browser extension from Binance, currently supporting the Binance Smart Chain, Binance Chain, and Ethereum blockchains.

You can select a source chain and a target blockchain from the drop-down menu. In our case, the source chain is BNB, and the target chain is Ethereum. Next, select the token you'd like to bridge from the dropdown menu. If you want to port a token that is not on the list, you may paste its contract address.

Due to the crypto decentralized nature, it is extremely important to pay close attention to the crypto transaction creating process. An incorrect network or destination wallet address may lead to the loss of funds.

What happens if you send crypto to the wrong wallet type? ›

Cryptocurrency transactions are irreversible. They cannot be undone by anyone. The only possible solution here is to contact them if you know who that address belongs to. Should you not know who the address belongs to, unfortunately the crypto assets would be considered lost.

Yes. As BSC is EVM-compatible, MetaMask is able to access both networks using the same wallet.

Important note: at this time, Coinbase only supports USDT on the Ethereum blockchain (ERC-20).

BowsCoin (BSC) is not tradable on Coinbase. The current BSC to USDT conversion rate is 0. Inversely, this means that if you convert 1 USDT you will get 882.06 BSC.

There are several possible reasons why your account is restricted on Coinbase. You may have violated the User Agreement, engaged in suspicious or fraudulent activity, been a victim of a scam or an information breach, or lived in a country that does not support certain features on the exchange.