Eth is awful, and How to onboard onto the Matic network from Binance without any headaches

Eth is awful, and How to onboard onto the Matic network from Binance without any headaches

By Reaverraver | new to crypto | 23 Jun 2021


Yet another week of learning. What I have learnt is that EVERY time I've tried to interact with the ETH network in anyway, I'm severely burnt by those ridiculous gas fees. 

Now I'm not saying that if you have thousands to play around with that eth does not have its place, and eth was truly a front runner in smart contracts, but when you are trying to buy a small amount of , for example , SHIB, and HALF the amount is going to be gobbled up by gas fees it is just not very user-friendly, and I know I'm personally very off put by even touching eth in the future. 

So I decided to try investigate Matic ( or polygon whichever it is ).  I change my FIAT into USDT, and look into ways to get it across to the polygon network.  I tried going via zero finance ( more like zero liquidity ), and got my tokens stuck in their own wrapped token  ( NO one changes zUSDC, and I needed matic to change it back ). After alot of swearing at the screen and zero finance in general , I came across their support section stating I could buy their own token, convert it from BSC to matic chain, then convert it zero into matic since they have liquidity for that . No one mentioned that I would be paying ETH fees for that. then when I finally got it to the matic chain, trying to change it into matic tokens, it stated I needed to pay more matic gas fees. At this point I was ready to put my fist through the screen.

After a bit of cooling off, I investigated further, and found out there is actually a MATIC faucet, that gives newcomers a little to cover the gas fees. I was amazed that MATIC only charged so little. I got the faucet ( https://matic.supply/ if anyone is interested ) and finally got my USDC unwrapped and back to the Binance chain. So, back to where I started, only $10 worst off. I will just take this as the lesson cost to always check liquidity before committing to any swapping. 

After looking for ages, I finally came across a solution. https://www.xpollinate.io/  You're welcome. You choose the token you have, the network it is from, which network you want to change it to, and voila, it works. Best of all the liquidity is right there on the front page. It went through first time, and I finally had funds to buy MATIC .  

TLDR, Load up Fiat, Change to USDT or USDC on Binance go to xpollinate, change. Viola, you're on the matic network.  

I am going to be focusing on Binance and Poly network in the future I think. If you are only loading $50 to $100 a month, ETH prices you right out of the equation. I am currently investigating more money making schemes, and will come back if any of them actually comes through, or if they are all scams of one way or another

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Reaverraver
Reaverraver

Just started getting into crypto.


new to crypto
new to crypto

I finally fell down the crypto rabbit hole, and I thought I would put my thoughts and perspectives as a complete newbie finding his feet.

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