Crypto Networks Explained - Avoid Fees

Save on Binance fees for life

[sjk]

Hi Sarn. Does transferring your crypto using different blockchains that arent native to the coin change the value of thr coin in anyway? For example if i send my ETH from easy crypto to Binance using Bep-20, does the bep20 eth get stacked up along with all my other eth on Binance that were originally transferred over using the erc20 network or will there be a separate pile of eth that shows that it got transferred via bep20? So that means Binance will show me which eth are sitting on erc20 and which eth are sitting on bep20? And can i still trade my bep20 eth on Binance or do i need to convert the eth somehow back into its native erc20 blockchain? Or does that not matter? I.e as long as it arrives in your chosen wallet you can do whatever with it

[markel]

Thank you Sarn!! This video was very detailed in explaining why you would need to switch networks and the examples helped out a lot with understanding the concept as well!!!

[CobbsCapital]

Loved the video Sarn! Very informative and in-depth, for sure have a new fan with us 👌

[matiasramos]

Hello! I always have the same doubt, maybe you can help me.
I understand that to send or receive we must always use the same network. In the event that we use, for example, the Binance network to send USDT to our wallet (which supports said network), that transaction will be registered in the Binance blockchain and not in the Ethereum one.
Thus, our wallet to show us the balance has to "search" it in the Binance blockchain and not in the Ethereum one. If something happened to the Binance blockchain, would we lose the baance? Despite having our private keys, if those keys access the balances of a centralized blockchain, security would not be guaranteed, right?

[shaunakpandit]

Thanks buddy perhaps you could do a video on when and how to do taxes. Like what dates to do them. I believe I still haven’t done my taxes for the last year is that a problem? Thanks!

[mayankZed]

I have a doubt..I have transferred some of my cryptos from ethereum network to the Plyygon network because of the low gas fees while swapping etc, and i am planning to hold them in my Polygon wallet itself for the long run (sand, mana, shib etc). will that be safe?.. what if something happens to the polygon network in the future.. or is there such a thing as a crypto dropping support for a network..

[linao]

Exactly what I was looking for. Thanks for the very clear explanation.

[echtigren]

If you send to the wrong block chain, why would it not reject the transaction? Who ends up with the coins?

[bigrob]

Hi Sarn, I have just bought a whole heap of Shib. If it goes up high like a $1 ha ha we hope, how do i sell it quickly. Easy Crypto dont have Shib and if I want to shift it fast then how? Would this be on Binance and swap it to something like USDT or USDC so it becomes almost real $$$ and I can then tap into that like a bank account? Its the only thing preventing us selling high amounts are the sell limits in Aus (Swyft) or NZ!

[ibrahimsaab]

Thank you for this informative video, Lets say the fees are not an issue and I wanted to store my crypto on a cold wallet long term does it matter what network i use to store it on ?
or should I use the network native to the coin ? Simply are some networks safer than others long term?

[RideWithMeme]

How do you know which network your crypto is on? Is there an easy way to know?

[Richmond_fx]

I have enj on binance and want to transfer to gateio but both exchanges have different networks. As a matter of fact both exchanges have just one netowork option

[majellarutty]

Great video, Sarn! Exactly what I was looking for!

[robertopagan]

Am I still able to trade usdt if I sent it to kucoin on a network other than eth? Or do I need to bridge somehow?

[Nyuk]

Nicely explained. But how do I know which networks the ledger wallet supports? Thanks for answer. Support to chanel.

[nostromo]

Wow, I had no idea. Thanks from the Manawatu! So if I am using Trezor (and Exodus) where do I check if binance works with Trezor transfers? I just wish to DCA each week with Binance and immediately send BTC to my Trezor. I'm old... take pity :)

[akhbarataaod]

Awesome tutorial for beginners.
just keep it up you just gained a new subscriber respect and love from Morocco🇲🇦🙏

[tomadko]

hey bro on easycrypto when i sell my tron can i use the tron network instead of erc20 to avoid high fees?

[predator]

Whats the best coin to send from coinbase pro to binance? (stable/faster)

[losted]

Hi Sarn

Thank you for the video. I do have a question.

I have transfered 10 USDC to my Trust Wallet from my Binance account. I send it on TRC20 Network. So when I check my USDC balance on Trust Wallet it says 10 USDC ( TRC20 ) . So what is that suppose to mean ? If I want to withdraw that cash should I need to change it to ETH ? What is the role of network when it comes to withdraw your cash ? Thanks