Avalanche is an open-source smart contracts platform that allows for decentralized applications. Without going too in depth into the specifics of this platform, we will be looking at how to bridge your assets over to the Avalanche chain in Metamask from Binance. I chose Binance as there is an extra step involved in getting your Avalanche (AVAX) across. If you like some further help in setting up a Metamask wallet, you can check out our guide here.
Firstly, one will need to create a wallet with the Avalanche network. Once you have created this wallet, you can copy the X (exchange) chain address from this new wallet. You will then put it in the withdrawal address for Binance. It is very important that when withdrawing you set the network to “AVAX” or you could possibly lose your funds.
When you receive the Avalanche it will be on the X chain and you will then need to click on the Cross Chain tab in the wallet. From there you can transfer the X tokens to either P (Platform) or C (Contract) chains..
From here one can migrate their AVAX from X to C Chain which is what Metamask uses. Once this process is complete, only then can you withdraw said funds to your Metamask wallet. WARNING: there is a possibility that you will lose your funds if you send X chain AVAX to your C chain Metamask address.
However, before you send the AVAX, you need to set up the Avalanche mainnet on Metamask. In order to do so, go to your Metamask and click on the drop down menu where it says “Ethereum Mainnet”. Once you have clicked on that, you can click on “Custom RPC”.
Once you have clicked on that you can enter the following details to ensure that your Metamask wallet can access your Avalanche assets.
You will need to then fill out the relevant information as follows:
- Network Name: Avalanche Mainnet C-Chain
- New RPC URL: https://api.avax.network/ext/bc/C/rpc
- ChainID: 43114
- Symbol: AVAX
- Explorer: https://cchain.explorer.avax.network/
Save and now you have successfully added the Avalanche blockchain to your MetaMask wallet. Now that you have Avalanche on your MetaMask, you can use a bridge to get your funds across from the Ethereum (ETH) Mainnet to the Avalanche mainent.
Now you need to bridge your assets over from Ethereum. AVAX is only the gas token for the Avalanche ecosystem and you will need to bridge over a few assets so that you can use them on the Avalanche ecosystem. We are going to use this bridge found here. You are able to bridge across the following assets:
- WETH
- AAVE
- BAT
- BUSD
- COMP
- DAI
- LINK
- MKR
- SNX
- SUSHI
- UNI
- USDT
- WBTC
You would be sending from Ethereum to Avalanche in this case. You would choose from the available selection of crypto to bridge over. It obviously has fees but as long as you bridge at least $75,00 of any supported token then you will receive an AVAX airdrop. You can do this multiple times so perhaps even farm this by sending your transactions in $100, bundles to take advantage of the airdrop, for example.. The airdrop was 0.1 AVAX at the time of writing but it might have been reduced a bit due to the huge flow of money into the ecosystem.
Once you have bridged, the token will show up in your AVAX wallet on Metamask and you can go about interacting with the Avalanche ecosystem. We will be exploring this further in the next article and how to better position yourself to take advantage of what Avalanche can do! In the next few articles, I will be looking at and exploring some great opportunities on the Avalanche ecosystem.
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