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Spend Almost Nothing Loading ETH into your Reddit Wallet using Binance & MetaMask

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Spend Almost Nothing Loading ETH into your Reddit Wallet using Binance & MetaMask

For those of you considering something like adding MOON/ETH liquidity in light of the new poll that will reward liquidity providers, here is a way to spend less than $0.40 in total fees moving ETH over from Binance. I spent $0.21 doing this today and shifted a big chunk of ETH.

This assumes you hold some ETH in Binance (if not, grab a little). This also assumes you know how to access your Reddit Wallet in MetaMask. If you do not know how to, Section II and III of the guide here will get you there. Note: that guide indicates you have to use ETH to move ETH into your Reddit Wallet and my guide here shows how to avoid that (and avoid spending way too much).

I saved a lot of money using this approach over the past week while adding funds to help with MOON/ETH liquidity for r/cc in light of the new poll.

If you only need a tiny bit of ETH to send MOONs to someone then use a faucet instead of this approach. Credit to u/hashzzz and u/prussia_dev for making the one I linked to.

Here are the steps to follow for moving a lot of ETH for little in fees:

  1. Bring up the 'Withdraw' screen for ETH in Binance
  2. For network *** MAKE SURE YOU CHOOSE BSC *** (this is how we get much lower fees)
  3. For the target address, paste in your Reddit Wallet address
  4. Choose a small amount if you'd like to test this out
  5. Send
  6. Do steps 1 through 5 to send $1 of BNB Token to that same address -- you won't use all of the BNB Token and don't need to send it every time, this is to cover the ~$0.15 of fees for moving between chains
  7. Make sure you have your Reddit Wallet account selected in MetaMask (right now your ETH is here but in the Binance Smart Chain which you could select as your network and use 'Import Token' to add ETH for if you want to see it at this stage -- not required)
  8. Go to https://www.orbiter.finance, this site lets you easily move assets between chains for minimal fees
  9. Select the values in the screenshot below - these choices indicate you want to move ETH between BNB Chain (aka Binance Smart Chain) and Arbitrum Nova which is the chain Reddit uses
  10. Choose how much of your ETH you sent that you would like to shift over to the Reddit Wallet (usually all of it)
  11. Click send and confirm - your ETH will show up in your MetaMask wallet on Arbitrum Nova (Reddit chain) and in your Vault on the Reddit phone app
  12. If you want to be able to see this ETH in MetaMask under your Reddit Wallet and don't have ETH listed, click "import tokens" at the bottom when you have Arbitrum Nova selected at the top and search for ETH to add it and see your balance

https://preview.redd.it/pf0i61tsryia1.png?457&format=png&auto=webp&s=96d18530113b85de96eaf0e2fb71986fa907e2ec

submitted by /u/rather_be_hiking
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