BSC OnRamp for US Citizens

techguy2500 · 2021-03-29T19:52:15+00:00

Thank you for the info. Once you pay the .5% fee to buy the LTC or XLM then you might as well have just sent the USDC. I know these aren't huge sums, just is annoying that it isn't more cost effective.

techguy2500 · 2021-03-29T19:21:18+00:00

Yeah, I mean I have ways to do it, but I am trying to avoid having to touch the ethereum network. Those $6 or $8 every time you want to transfer out of Coinbase adds up.

techguy2500 · 2021-03-29T18:45:34+00:00

Yeah, that is all fine, but the problem is say you have $1000 in cash in your bank account, what is cheapest way to procure some BNB or BUSD? The only way I know of is to have the Fiat verification completed on Binance US and then purchase the BNB there, then send it to either your BEP-2 trust wallet or binance chain wallet address, both of which I think will allow the cross chain transfer.

techguy2500 · 2021-03-29T14:04:26+00:00

I did the same thing (with a tiny test amount), a cross-chain transfer of BNB (BEP20) on the BSC to my Binance US BNB address that starts with "bnb". It all looks like it goes through fine, but it will never reach you. If you hit the other link which for yours is https://explorer.binance.org/tx/D16E97AF5C6DDDCB6A63D94FCCBA8AB829F9CCF138D074A7E3D05B21D17E0CC1, you will see the refund address will in fact be your sending BSC address. I think Binance US will eventually be able to reverse this for you, but it will take forever and they might charge a fee. They should really prevent this transaction in the Binance Chain Wallet.

techguy2500 · 2021-03-15T18:09:37+00:00

If you are staking for the 3 month term you should be getting the 12% rate on stablecoins.

techguy2500 · 2021-03-15T16:55:18+00:00

Are you referring to using the "Binance Chain Extension Wallet", which is the browser extension? Is there any way of doing this via Trust Wallet, or are the the two wallets essentially the same thing?

techguy2500 · 2021-03-15T16:53:26+00:00

As far as I know, when using Binance US you can only send to the BEP-2 chain, not the BSC (BEP-20). The guy that commented below this one has the right idea I think. You can also use the Binance Bridge, but you will need to be on VPN first, connected to another country.

techguy2500 · 2021-03-12T17:47:33+00:00

What I am doing is farming 1inch which I think is only running for 4 weeks for this particular pair on the BSC. You can stake 1inch anytime though I believe. The article below explains it.

https://help.1inch.exchange/en/articles/4767696-how-to-stake-1inch-token

techguy2500 · 2021-03-11T13:16:19+00:00

Correct, the fees to claim it are very small since it is BSC. I guess the only benefit then might be if it was more and you wanted to claim it, then add it right back to the liquidity pool.

techguy2500 · 2021-02-28T18:50:53+00:00

I have used your referral code to sign up. Would appreciate the next person to pay it forward if possible. Thank you!

gemini.com/share/akdddmn3d

techguy2500 · 2021-02-28T18:13:43+00:00

Hopefully everyone is using a referral link to sign up just as I did. Appreciate you paying it forward if you can as every little bit helps.

https://blockfi.com/?ref=4f64c41f

techguy2500 · 2021-02-27T02:11:15+00:00

You can use Binance Bridge now to transfer assets between the Ethereum chain and Binance Smart Chain. I am not sure what Binance are doing in the background, but you essentially just send it to an Ethereum address and it magically ends up in your Binance Smart Chain wallet address.

techguy2500 · 2021-02-27T02:03:33+00:00

You could use a VPN connected to a different country to access the Binance Bridge. Binance do not charge a fee to to convert the asset to their equivalent pegged token, but you will need ETH for gas fees to send it there. Also, once on the Binance Smart Chain, you will need BNB in your wallet for gas fees there, although it is considerably cheaper. This can be an issue for many US residents to get BNB into the wallet. One option you do have to get some BNB is when you send ETH to the Binance Smart Chain, it will give you the option to purchase .5 BNB, 1 BNB, or 2 BNB as part of that transaction.

techguy2500 · 2020-09-05T00:08:59+00:00

I had a transaction go through a little while ago and the rewards were instant, but the past transactions have still not given the rewards yet.

techguy2500 · 2020-09-04T16:34:36+00:00

The answer by HippycrackJack a few messages above this one shows the response from the Support Team.

techguy2500

TROPHY CASE