Hi all .
New here . So newbie question I guess .
Got some ADA on binance I want to transfer to my nano s .
Latest Ada app installed , adalite is set up and I
Got my withdrawal Andress .
Now binance is giving the choice to withdraw via different transaction networks .
Cardano network / binance chain bep2 / binance smart chain bep20 .
Could someone explain those options toe and let me know which I can use ? Been looking around for answers but can’t find any .
I would not mind a link to a bit of reading on the subject as well !
Thanks in advance
Binance uses their own chain to help prevent their own liquidity - it gives an image to users that the funds they’re sending on Binance chain (bep 2 as well as 20) are somehow related to Cardano. They’re absolutely not, neither are they compatible. You should absolutely stay away from options other than
An announcement was made regarding the same here.
Thank you very much for the clear answer . Good read and resource . Greatly appreciated . Could not find that page in Google search .
I use Ledger Nano S & buy from Binance. Please use Cardano Network with 1 ADA fee when you withdraw from Binance. It’s preferable to withdraw it to Daedalus Wallet (pair with Ledger Nano S) though. Maybe you could take a look at these article from IOHK: How to use Ledger and Trezor HW with Daedalus – IOHK Support
Hope it helps @Olivier
If you are spot trading on Binance.US you can do it by white listing the cardano address once the Blochian syncs up with your ledger use the Daedalus wallet its super straight forward if you need help let me know bro.
This advice should be pinned to every Cardano related site like the “We don’t do giveaways” PSA.
I initially had the same question myself and couldn’t find anything immediately informative with “lazy boy” googling. In the end I figured given the nature of the project, sticking with the Cardano option made the most sense. Despite my tight@rse nature whispering to take the other option.