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Transferred Cardano(ada) from Binance to my Ledger

Binance

Cryptocoins Exchanges / Binance 745 Views

Hi guys,

I just got my ledger Nano X and wanted to transfer Cardano(ada) from Binance online wallet to my ledger, Cardano network wasn't supported so i thought i might transfer it using BEP20, so i transferred first 5 ADA, and it arrived on Binance-Peg Cardano Token , However, I haven't noticed that value in my portfolio didn't increase, after I saw ada arrived, I transferred 5k more, so my issue here is following.

I have read on ledger support articles that :

that Cardano(ADA) sent to Binance-Peg Cardano Token is not the same as actual coin, and i'm unable to transfer it back to anywhere since it has no value and for the transfer it's asking for fees.

Does this means it's lost?

Is there a way to exchange it to actual cardano?

what do i do?

I sent the request to ledger support but no answer yet.

submitted by /u/Ok_Indication_9940
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