Trust Wallet is the most widely used and easiest way to store Cryptocurrencies. This is a product of Binance Exchange and works on Binance Smart Chain. Many people looking for how to convert BUSD to smart chain in trust wallet or how to swap BUSD to BNB in Trust Wallet.
Actually, the Transaction of BUSD BEP20 from Binance to Trust Wallet is completely free as compared to the BUSD bep2 and BUSD ERC20 network. BUSD Bep2 charges $0.5 while BUSD ERC20 network charges $25 for transferring funds from BNB to Trust Wallet.
You may check the cheapest way to transfer crypto between exchanges.
For taking the advantage of free-of-cost transfer, we usually transfer BUSD BEP20 to the Trust Wallet. But while we try to convert BUSD to Smart Chain, we get an error and our transaction gets declined. It is due to insufficient BNB smart chain wallets.
We all know that cryptocurrency projects work on blockchain technology, which is a kind of decentralized concept.
Here we have to pay the gas fees and trading fee to do transactions and transfer funds. Miners get crypto rewards for their mining or verifying transactions between two wallets.
If we do not pay the transaction fee, then our transaction will not succeed. It could be rejected by the smart chain network. Now we will come back to our topic on how to convert BUSD to a smart chain in Trust Wallet.
Trust Wallet charges gas fees and transaction fees by Smart Chain balance and if there will be no funds in BNB SC (BNB Smart Chain) balance, nothing could be done with our BUSD balance.
Because we have no BNB SC coin to pay the transaction fee.
So, In this case, firstly, we have to add some BNB Smart Chain to our trust wallet, and then we can convert our BUSD to the Smart chain.
How to Transfer From Binance to Trust Wallet
Step I Copy BNB Smart Chain Code From Trust Wallet
You have to open your Trust Wallet and click on the receive button.
Search for Smart Chain
Copy Smart Chain Code to receive funds.
Step II Send Funds From Binance Exchange
Now you have to paste that BNB Smart chain address in your BNB wallet withdrawal option in the Binance exchange. Check the below reference image.
After pasting the address, select the BNB Smart chain BEP20 network. And enter the amount you want to transfer to the trust wallet. As they are charging o.0005 BNB transfer fee, so try to transfer at least 0.1BNB.
After network confirmation and entering sending amount, click on the withdrawal button. Now you will receive OTP for verifying transactions from the Binance exchange.
After OTP verification, your BNB Smart Chain Balance will be transferred to the Trust Wallet Smart Chain Address. Now you can convert your BUSD to Smart Chain using swap under the DEX option. Check the step-by-step guide below:
How to Convert BUSD to Smart Chain in Trust Wallet
For converting BUSD to Smart Chain, you have to go to the DEX(Decentralized Exchange). Which is shown below in the footer section of your trust wallet screen.
Now there are two options, Exchange and swap. We have to use the swap option to convert BUSD to Smart Chain. Let’s see how to swap BUSD to BNB on Trust Wallet.
How to Swap BUSD to BNB on Trust Wallet
While clicking on the DEX button and selecting the swap option, you will get some such kind of interface.
For swapping or converting BUSD to BNB, you have to keep BUSD on the upper side and BNB on the lower side. If you are getting these tokens on the opposite side, then use the arrow button to change it.
Note* BUSD should be above, and Smart Chain should be at the lower section.
Now select the amount you want to convert from BUSD to Smart Chain. You may select from 25%, 50%, 75% or 100%. Or you may select these by manual value.
After entering the BUSD amount, click on the swap button. Now it will ask for approval with reflecting the transaction amount. Approve the transaction and your BUSD will become Smart Chain.
I hope everything is clear regarding how to convert BUSD to a smart chain in a Trust Wallet. Let’s see some important notes:
- If you are transferring funds from the Binance exchange, then make sure to transfer BNB instead of BUSD.
- You should have some enough Smart Chain Balance to swap BUSD to BNB.
- While swapping BUSD to Smart Chain BUSD should be in upper section.