This guide describes how to use Ronin Bridge to send an ERC20 token from your Ronin Wallet to an Ethereum address.
Prerequisites
If you access Ronin Bridge on mobile, remember to import your Ethereum address to your mobile Ronin Wallet. To learn how to do that, see Importing Your MetaMask Wallet to Ronin Wallet.
Switch to the withdrawal feature by selecting the button between the From and To fields.
Select the From field and connect your Ronin Wallet using the browser extension or mobile app for your device.
Select the To field and enter the Ethereum address that you want to bridge the token to. Double-check the recipient address to avoid sending your tokens to the wrong destination.
Ronin Wallet app
If you access Ronin Bridge through the Ronin Wallet mobile app, then you can enter any Ethereum address as a recipient, but only your imported Ethereum wallet can pay gas in ETH for the transaction.
Step 2. Choose the token and amount
Choose the ERC20 token that you want to withdraw, then enter the withdrawal amount manually or select Max to withdraw the entire balance of this token available in your wallet.
When prompted, select Approve to approve the new spending cap for the selected token.
Spending cap
When you bridge an ERC20 token for the first time, you need to set a spending cap. To do that, enter your desired token amount, then follow instructions on the screen to approve the cap. In the future, when you bridge an amount that exceeds your current cap, you will need to approve a new spending cap corresponding to the higher amount.
When prompted, sign the transaction in your Ronin Wallet.
Step 3. Confirm your withdrawal
Review the transaction details, including the gas fees associated with the withdrawal. Make sure you have enough ETH in your Ethereum wallet to cover the fees. If everything looks correct, select Submit withdrawal.
When prompted, sign the transaction in your Ronin Wallet.
Select Connect Wallet and connect your Ethereum wallet.
Wait for the transaction to be confirmed by the network. Be patient, however, as transactions can take some time to complete, depending on network congestion and gas fees.
When the amount is ready to be withdrawn, select Withdraw to bridge the tokens to your Ethereum address.
When prompted, sign the transaction in your connected Ethereum wallet to receive the tokens.
Step 4. Receive the tokens in your Ethereum wallet
When the withdrawal is complete, you'll see a "Withdrawal completed" window.You can check your connected wallet to verify that the tokens have arrived successfully.
In the Ledger Live app Swap tab, select any ERC20 tokens and the accounts of origin and destination. Enter the amount you want to exchange and check the rate. Before confirming the swap, you'll see a summary on Ledger Live.
Instead, you will need to utilize a cryptocurrency exchange. This exchange allows you to convert your tokens into fiat currency (such as USD, EUR, etc.) and then transfer that fiat currency to your bank account.
There are several platforms that allow you to sell ERC20 tokens in large quantities, but the best option will depend on your specific needs and preferences. Some popular options include IDEX, Binance, and KuCoin. IDEX is a decentralized exchange that allows you to trade a wide variety of ERC20 tokens with low fees.
The ERC20 standard has ushered in plenty of benefits for the Ethereum ecosystem and the broader blockchain and DeFi spaces: Interoperability: ERC-20 tokens can be easily traded, exchanged, and integrated into various Ethereum-based applications, enhancing usability and interoperability between dApps.
An ERC-20 wallet is an app very close to bank accounts where you hold money. The digital crypto wallets are used to hold cryptocurrency tokens and digital assets like NFTs. The wallet is used for storing ERC-20 tokens, transferring tokens, and interacting with Dapps on Ethereum blockchian.
You can use a tool or library to call these functions on the target address. Evaluating Return Values: If the function calls succeed and return valid values (e.g., a non-zero balance or a total token supply), it's a strong indication that you're dealing with an ERC20 token contract.
Find the asset you want to withdraw and click Withdraw from the Actions column on the far right (if you can't take any actions, your user role doesn't have the permissions to perform those actions)
Click Withdraw to External Address or Transfer Funds Internally.
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You can check your connected wallet to verify that the tokens have arrived successfully.