Binance has recently decided to terminate the operation of Beacon Chain, with an expected completion in mid-October 2024. Therefore, Binance officially requests that users transfer their BNB from Beacon Chain to Binance Smart Chain as soon as possible to avoid any loss of assets.
Based on this situation, Ballet also strongly advises users who still have BNB on Beacon Chain in their cards to transfer it to Binance Smart Chain as soon as possible.
*Please note that the migration is only required for BNB on the Beacon Chain (the coin is called Binance Coin (Migrating)); BNB on the Binance Smart Chain does not need to be migrated.
Binance announcement:
https://www.bnbchain.org/en/blog/bep2-bep8-asset-sunset-announcement
You can migrate BNB in the following three ways.
Way A: Use Ballet Swap to convert Binance Coin to other cryptocurrencies.
Pros:
1) Your assets can be migrated without the need to transfer externally.
2) Simple and convenient.
Cons: Swap incurs certain fees.
Operation steps:
1) Tap Binance Coin in your card details page.
2) Tap the Swap button.
3) Convert your Binance Coin to BNB on the Binance Smart Chain (BSC) (or other cryptocurrencies you wish to convert to).
For specific instructions on Swap operations, please refer to this article:
Way B: Transfer BNB to an exchange and then convert it to other cryptocurrencies you wish to convert to.
Pros: Relatively simple and convenient.
Cons: Assets will be transferred to a decentralized platform.
Operation steps:
1) Obtain the receiving address for Binance Coin on the exchange.
2) Transfer Binance Coin from Ballet Crypto to the exchange's receiving address.
3) Convert Binance Coin to BNB on the Binance Smart Chain (BSC) (or other cryptocurrencies you wish to convert to) on the exchange.
4) Transfer your cryptocurrencies back to your Ballet card.
For instructions on sending cryptocurrencies, please refer to this article: How to send cryptocurrency
Way C: Send Binance Coin to a wallet that supports cross-chain transfers (such as BNB Chain Wallet or Trust Wallet), then migrate to Binance Smart Chain.
Pros: Assets are in a decentralized wallet.
Cons:
1) Assets need to be transferred externally.
2) Some operational difficulty.
Operation steps:
1) Set up an external wallet and obtain the receiving address.
2) Transfer Binance Coin from Ballet Crypto to the external wallet.
3) Perform cross-chain transfer in the external wallet.
4) Transfer BNB on the Binance Smart Chain (BSC) back to your Ballet card.
For instructions on sending cryptocurrencies, please refer to this article: How to send cryptocurrency
For the method of cross-chain transfer in the external wallet, please refer to the Before BC Fusion section in this article: BC Fusion