Skip High ETH & BTC Fees By Using This Technique

By Sapphire | Sapphire Crypto | 18 Aug 2020


Perfect For Traders & Hodlers

If you are buying BTC and ETH to hold over the next few months or even years and are deterred from withdrawing your coins from an exchange due to the recent increase in fees, then you should consider making use of BEP2 tokens. These are the equivalent of Ethereum's ERC20 tokens, just that they are built on top of the Binance chain. Binance have an entire portfolio of altcoins that they have put on their own chain. In other words the token is pegged to the price of the actual coin.

So, if you bought BTC on Binance, you would have the option of withdrawing it on the BTC network or withdrawing it to a BTC BEP2 wallet. The value of your BTC would still be the same and maintained, as the token is pegged to the BTC price. When the time comes for you to sell in order to realize profits, you simply deposit your BTC back into your Binance account and it reflects in your BTC account.

The same applies to ETH and other alts that are available as BEP2 tokens. The price of ETH fees is currently very high and using a BEP2 alternative becomes very attractive as transaction fees are approximately $0.04! This can be used by traders alike, as BEP2 transactions settle in seconds and traders can move their tokens in and out of Binance very efficiently. 

So What Wallet Can I Utilize To Store My BEP2 Tokens?

Currently, Trust Wallet is the best bet for storing BEP2 tokens and can be downloaded for Android and Apple mobile devices. Users can create a traditional wallet that holds many of the traditional Crypto assets, as well as a wallet for BEP2 tokens. If you are trading FTX Bull and Bear tokens then you can also store them in your Trust Wallet as they are also supported.

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The most positive aspect of utilizing the Binance chain, is that you can be reasonably sure that they will not just disappear. Binance are growing constantly and become stronger as the days go by. Trust Wallet is actually an acquisition by Binance and they have made it their official go to wallet.

The Trust Wallet also has built in staking, similar to Atomic Wallet. Currently, Atomic Wallet has more options but Trust Wallet will be adding more options soon!

 

 

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Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice. Sapphirecrypto.org


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.

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