Using Coloso without Centralized Exchanges
Coloso.finance is a decentralized application. That means, unlike Binance or other centralized platforms, you don't need to register account to use it... you just need a crypto wallet. So how can you get crypto onto Coloso without using a centralized exchange?
In this tutorial, we're going to guide you through the process of using "cross-chain bridges" to transfer your assets into your Binance Smart Chain wallet, and start using Coloso.
Move your assets from other blockchains to Binance Smart Chain
You can use a variety of different cross-chain bridges to transfer tokens from Ethereum or other networks, onto Binance Smart Chain.
In the following tutorials, we are going to demonstrate moving USDT from a variety of different blockchains to Binance Smart Chain, using three different cross-chain bridges.
Binance Bridge may be the easiest bridge to use for moving assets onto Binance Smart Chain (BSC).
In the following example, we'll show you how to move USDT from TRON blockchain to BSC using Binance Bridge.
The process is about the same for moving from Ethereum to BSC.
Prepare your TRON wallet with USDT and some TRX for bandwidth (gas).
Since Binance Bridge only supports MetaMask and Binance Chain Wallet. If you are using other wallet apps, we recommend you to import your wallet into MetaMask.
Navigate to https://www.binance.org/en/bridge
Connect your MetaMask or Binance Smart Chain wallet.
Select TRX Network as "From", Binance Smart Chain Network as "To". Then type in the amount of USDT you want to transfer.
Additionally you can ask Binance Bridge to swap some BNB for you in the process of moving your USDT from TRON to BSC. This is particularly helpful when you are new to Binance Smart Chain with a fresh wallet, and need some BNB for gas.
Double check the “Destination” field is showing the correct Binance Smart Chain wallet address you’ve connected.
Click “Next”. And choose the fourth option.
WARNING: You can only send funds from a blockchain wallet (in this case, TRON). If your funds are under some other centralised exchange, please move them to blockchain wallet first.
Make sure everything is correct, click “Next”.
Finally, please follow the on-screen instruction, use your blockchain wallet (in this case, TRON wallet) and send funds to the given address. Please make sure:
The address is correct.
Complete in one single transaction.
Complete within the deadline. (shown below as countdown)
Once you complete the transaction. You should receive your fund in Binance Smart Chain wallet in a few minutes. After that, you can start using Coloso to swap some tokens on Binance Smart Chain!
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