@kenlee0, do not promote your referral links on the forum, please
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When trading on Binance, if I buy any cryptocurrency without using Binance coin (BNB), would the trading fee be charged in BTC or the cryptocurrency I am buying.
Thank you
Howard
Fee is subtracted from the received coin. If you execute an order to buy 10 ETH - the fee will be subtracted from ETH, so in result you will receive something like 9.99 ETH
Thanks for the info
Howard
@vantuz-subhuman
When I buy EOS ERC-20 token or OMG ERC-20 token on Binance and put them in a wallet, do I need to swap the ERC-20 tokens for the native tokens myself or does that happen automatically when the time comes
And how to swap for the native tokens if I do need to do that myself
Thank you
Howard
I would recommend you to ask EOS or OMG specific questions on EOS or OMG specialized forums. They would be able to provide valid up to date information.
Please, try to keep discussion Cardano related, or Cardano trading related. Thank you.
Thank you, I will try to keep the discussion Cardano related
Howard
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Is it true that the Daedalus wallet can also store any ERC20 coin? How does that work, as the wallets that are generated don’t start with 0x??
It’s not quite true. Or to be specific - it’s more complex than that.
Daedalus can store ADA for now. And it will be able to store ETC a bit later. After a while it will be able to store any token launched on Cardano CL and those will be compatible with ERC20 - it just means that your will be ablt to launch new token on Cardano CL by implementing the same standard - ERC20. So you could just take the same Solidity smart-contract and deploy it on Cardano CL and it will create new ERC20-compatible token that you will be able to store in Daedalus.
So you can’t just take the same TRX or ICX tokens that exist now and “send” them to Daedalus. Not, that’s not how it works.
A bit later, tho, when sidechains are implemented - you will be able to do kinda exactly this. You gonna send your TRX to a special address on Ethereum blockchain (starting with 0x) and then you will receive the same amount of TRX’ tokens in your Daedalus wallet, and you will be able to send them around on Cardano blockchain, and once you want to return them to Ethereum - you send them to a special address on Cardano blockchain and you receive your TRX tokens back to your Ethereum address.
The trick is that TRX’ token is an ERX20 copy of the TRX token but on Cardano chain. And may be easily exchanged 1:1 with original token.
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