can i swap eth for bnb on trust wallet

Trust Wallet empowers traders with a seamless process to swap Ethereum (ETH) for Binance Coin (BNB), catering to both decentralized finance (DeFi) enthusiasts and investors seeking cross-chain exchange.

Nov 07, 2024 at 03:23 pm

Seamlessly Swapping ETH for BNB on Trust Wallet

Introduction

Trust Wallet, the renowned self-custody cryptocurrency wallet, empowers users with a diverse range of decentralized finance (DeFi) services, including the ability to seamlessly swap Ethereum (ETH) for Binance Coin (BNB). This article provides a comprehensive guide to this process, ensuring a smooth and secure experience for traders and investors.

Getting Started

1. Import ETH into Trust Wallet

• Connect your desktop or mobile device to a reliable internet connection.
• Open Trust Wallet and log in to your account.
• Navigate to the "Receive" tab and select the "ETH" token.
• Copy the displayed wallet address or scan the QR code to receive funds.
• Initiate a transaction from a compatible exchange or wallet to transfer ETH to the provided address.

2. Enable BNB Token

• Trust Wallet automatically imports the most popular tokens and coins. However, BNB is not one of them.
• To enable BNB, tap on the "Customize" icon in the top right corner of the wallet's main screen.
• Search for "Binance Coin" or "BNB" in the search bar.
• Toggle the switch for BNB to enable it in Trust Wallet.

3. Add BNB BEP20 Network (Optional)

• If you prefer to swap ETH for BNB that will be used on the Binance Smart Chain (BSC), you can add the BNB BEP20 network to Trust Wallet.
• Go to the "Settings" tab and select "Networks."

• Tap on "Add Network" and enter the following details:

  • Network Name: Binance Smart Chain
  • New RPC URL: https://bsc-dataseed1.binance.org:443
  • Chain ID: 56
  • Currency Symbol: BNB
  • Block Explorer URL: https://bscscan.com

Swapping ETH for BNB

1. Navigate to the Exchange Tab

• In Trust Wallet, navigate to the "Exchange" tab.
• Select "ETH" from the first drop-down menu and "BNB" from the second drop-down menu.

2. Enter the Swap Amount

• Input the amount of ETH you wish to exchange for BNB.
• Trust Wallet will display the estimated amount of BNB you will receive based on current market rates.

3. Adjust Slippage Tolerance (Optional)

• Slippage tolerance is a buffer that accounts for potential fluctuations in token prices during the swap process.
• The default slippage tolerance can be found in the swap settings. Users can adjust it to minimize the risk of failed transactions but may result in less favorable exchange rates.

4. Preview and Confirm

• Once you have entered the relevant details, review the swap preview carefully.
• Ensure that the exchange rate, estimated BNB amount, and fees are acceptable.
• Tap on the "Swap" or "Exchange" button.

5. Approve the Transaction

• Trust Wallet will prompt you to confirm the transaction.
• Review the details and tap on the "Confirm" button.
• Enter your wallet password or passcode to authorize the transaction.

6. Monitor the Progress

• Once you have confirmed the swap, you can track its progress through the "Transactions" tab in Trust Wallet.
• The status will change from "Pending" to "Completed" when the swap is successfully executed.

Additional Considerations

• Transaction Fees: Trust Wallet charges minimal transaction fees for swaps to cover network costs. These fees may vary depending on network congestion and exchange rates.
• Swap Limits: There may be daily or monthly swap limits imposed by Trust Wallet to mitigate risks associated with excessive trading activity.