Having a problem swapping USDT ERC20 to BNB on Trust Wallet? You might experience a problem swapping USDT ERC20 to BNB because these tokens use a different blockchain network, and the swapping process between these tokens is not possible to do in your Trust Wallet account. So, how can you swap USDT ERC20 to BNB on the Trust Wallet platform? This guide will give you some tips on how to swap USDT ERC20 to BNB on Trust Wallet.
USDT ERC20 and BNB Overview
USDT (Tether USD) is a stablecoin that uses ERC20 (part of Ethereum network) as its primary blockchain network. So, you can only use the Ethereum network to swap your USDT ERC20 token in your Trust Wallet account, meaning that you can only swap your USDT ERC20 with other tokens that run on the same ERC20 network.
Meanwhile, BNB (Binance Coin) is a native token of the Binance crypto exchange platform, which uses the BEP20 or Binance Smart Chain as its primary blockchain network. Thus, USDT ERC20 will have a different network from BNB, meaning you can’t swap these tokens in Trust Wallet, although you can store these two tokens in a single Trust Wallet account.
Another thing that you need to keep in mind is that USDT (Tether USD) is a type of stablecoin that has a constant value of 1 USD per 1USDT. So, it has a constant price, whereas BNB (Binance Coin) has a fluctuating price depending on the market value. As of the end of May 2022, BNB price is around 318 USD per 1BNB.
Can You Swap USDT ERC20 to BNB on Trust Wallet?
Swapping USDT ERC20 to BNB on Trust Wallet is not possible because of the different networks that these two tokens are using. You can only swap the USDT ERC20 token with other tokens that run on the Ethereum network. So, Trust Wallet cannot facilitate the swapping process of USDT ERC20 to BNB in your account. However, there is always a workaround for this type of problem, such as by using a third-party crypto exchange platform to facilitate the swapping process.
Trust Wallet allows you to store various types of tokens from various blockchain networks, but for most crypto tokens, you need to complete the swapping process via the same blockchain network. Some tokens, such as USDT ERC20, are not available for swapping with the BEP20 tokens, such as BNB (Binance Coin), on the Trust Wallet platform. You will need to find another platform that can accommodate the swapping process between ERC20 to BEP20 tokens.
What Should You Do If You Can’t Swap USDT ERC20 to BNB on the Trust Wallet platform?
Trust Wallet allows you to swap your crypto assets from one token to another token. However, as of right now, you can’t swap USDT ERC20 to BNB in Trust Wallet because they are using a different blockchain network. The option to choose BNB when you swap USDT ERC20 is not available in this wallet. However, it doesn’t mean that you have to get stuck with your USDT ERC20 tokens forever.
You can always use the services from a crypto exchange platform that supports the swap transaction between USDT ERC20 to BNB, such as Binance. Please note that not all crypto exchange platforms will support the swapping of tokens from different networks. For instance, Pancakeswap only supports swapping of tokens running on the Binance Smart Chain network, so you can’t swap your USDT ERC20 to BNB on the Pancakeswap platform.
Swapping USDT ERC20 to BNB with Trust Wallet and the Binance Crypto Exchange Platform
Swapping USDT ERC20 to BNB involves sending your USDT ERC20 tokens from your Trust Wallet account to Binance, converting the USDT ERC20 token to BNB on the Binance platform, and sending back the BNB tokens to your Trust Wallet account. This is the best workaround you can use to swap USDT ERC20 tokens that you have in your Trust Wallet account into BNB tokens. Here are the steps you need to follow:
Step 1 – Sending Your USDT ERC20 Tokens from Trust Wallet to Binance
- Go to the Binance website at https://www.binance.com/ and log into your account.
- Then, go to your Binance wallet, select ‘Spot’, and select ‘Deposit’.
- Search for the USDT token on the list of tokens to deposit, and then select the ERC20 as the network for this deposit.
- You will get the receiving address for your USDT ERC20 token in Binance, which you can copy or scan later.
- Now, go to your Trust Wallet account and select the ‘Send’ option.
- Select your USDT ERC20 token and select the ERC20 as the network for you to send this token to Binance.
- Put the Binance wallet address you have received from Binance earlier or scan the QR code for the wallet address.
- Confirm the transfer transaction for your USDT ERC20 token to your Binance address in your Trust Wallet account.
- Congratulations! You have transferred your USDT ERC20 tokens from Trust Wallet to Binance. Now, you are ready to swap your USDT ERC20 tokens to BNB on the Binance platform.
Step 2 – Swapping Your USDT ERC20 to BNB on the Binance Platform
- You should see your USDT ERC20 in your Binance wallet account after transferring it from your Trust Wallet account.
- Next, you will need to use the Binance Convert tool to convert your USDT ERC20 to BNB.
- On the Binance website, choose ‘Trade’ and click on ‘Binance Convert’.
- Now, select USDT as the token you want to convert and select BNB as the conversion destination.
- Put the amount of the USDT you want to convert into BNB, and click on ‘Preview Conversion’.
- Fill up the additional details of your conversion, such as putting ERC20 as your USDT network.
- Confirm the conversion transaction and wait for the transaction to complete.
- Congratulations! Now, you have converted your USDT ERC20 to BNB on the Binance platform. It’s time for you to send your BNB tokens back to your Trust Wallet account.
Step 3 – Sending Your BNB Tokens Back to Your Trust Wallet Account
- Check your Binance wallet account to see the amount of BNB you have in your account.
- Log into your Trust Wallet account and select the ‘Receive’ option.
- Select BNB as the token you want to receive in your Trust Wallet account.
- You will get the QR code and the receiving address for the BNB token.
- Next, go to Binance, select ‘Assets’, and then select ‘Withdraw’.
- Select ‘BNB’ as the token you want to withdraw and fill up the amount of BNB you want to send to your Trust Wallet account.
- Paste the Trust Wallet receiving address for BNB or scan the QR code on your Trust Wallet app.
- Confirm the transaction to send your BNB back to your Trust Wallet account.
- Congratulations! Now, you have transferred your BNB tokens from Binance to your Trust Wallet account.
Conclusion
You have learned about how to swap USDT ERC20 to BNB on Trust Wallet by using Binance. Remember, it’s important to use a third-party crypto exchange platform for this transfer because you can’t do it from the Trust Wallet platform itself. You can follow these steps to convert your USDT ERC20 to BNB and store your BNB tokens in your Trust Wallet account. Good luck!
