How to transfer tokens to Avalanche Network simply

Prepare to transfer tokens to Avalanche

The Avalanche’s primary network consists of 3 built-in separate blockchains:

• P-Chain (Platform Chain) is a platform chain that implements the Snowman consensus protocol that helps coordinate validators and tracks active subnets.
• X-Chain (Exchange Chain) is an example of the Avalanche Virtual Machine as a decentralized platform used to create and trade assets on X-Chain with other digital assets that have their own rules.
• C-Chain (Contract Chain) is an instance of the Ethereum Virtual supported by Avalanche that allows users to create smart contracts using C-Chain's API. You will have to use C-Chain if you want to interact with DApps based on Avalanche.

There are many different chains, but in general, an Avalanche wallet is used to store coins, an Avalanche X-Chain wallet will store AVAX (X-Chain) and an Avalanche C-Chain wallet is where AVAX C-Chain, ARC20 standard tokens are stored on the Avalanche blockchain platform.

The gas gwei level on the Avalanche Network is currently around $0.04 - $0.06/transaction. So, to make transactions, only 0.2 AVAX (~$12) can go a long way.

Prepare tokens

Since nearly all CEXs currently support AVAX, you have complete freedom to choose where to make your AVAX purchase(s). The most popular Avalanche-supported exchanges include Binance, Huobi, Gate.io, KuCoin, and many more.

In the following section, I'll go into greater detail about which exchange you should use to purchase AVAX.

Prepare your ARC-20 wallet to store tokens

It is necessary to have a non-custodial wallet after you buy tokens on CEX to store tokens and interact with DeFi. At this time, many different wallets, including the Coin98 Super Wallet, can store AVAX coins.

First, you should have an Avalanche Wallet to store your AVAX, this article will be usefull for you: How to create & use Avalanche Wallet

Following these simple steps, you can store AVAX and other ARC-20 tokens.

Transfer tokens to Avalanche Network (ARC-20)

After buying AVAX and having an Avalanche wallet (ARC-20), you can participate in events or skin in the game in the Avalanche Ecosystem, such as joining lending, yield farming or staking activities on this chain.

However, you should note that there will be multiple token standards for AVAX in the market, such as BSC (BEP-20), Ethereum (ERC-20), Heco Chain (HRC-20), etc. You can change the token standard to match the chain you need.

To make it easier for you to visualize, I'll walk you through the process for the two methods listed above.

Option 1: Buy tokens on CEXs & withdraw to an ARC-20 Wallet

Transfer and withdrawal fees will vary depending on the exchange. If you want to transfer your assets, you should pick the CEX that is most convenient for you to use.

To begin, you'll need USDT or USDC stablecoins in order to purchase AVAX. US dollars (USD) or other currencies in your country can be used to buy USDT if you don't have stablecoin yet.

I recommend reading this "How to use Binance" article to know how to buy USDT.

Now that you have USDT, you can purchase AVAX from any exchange, such as Binance, Kucoin, Gate, etc. and transfer the tokens to the Coin98 Wallet by doing as follows:

Step 1: On Binance exchange, use USDT to purchase AVAX.

Step 2: Transfer AVAX to the Avalanche C-Chain wallet by typing in your Coin98 Wallet Address.

How to convert AVAX C-Chain to X-Chain and vice versa

However, if you have the AVAX token standard of Avalanche X-Chain already, or if you withdraw your AVAX from Binance in the form of AVAX X-Chain by mistake, you may sometimes need to convert the token standard between C-Chain and X-Chain.

Therefore, Coin98 Wallet has integrated the SpaceGate Cross-chain Bridge with a leading technology that could “help blockchains to communicate with each other”, allowing users to trade tokens between 2 different blockchains easily and conveniently. Users can easily convert between AVAX C-Chain and AVAX X-Chain with the following guide:

• Step 1: On the Coin98 Super App’s main interface, click Swap.
• Step 2: Choose SpaceGate and choose AVAX C-Chain or X-Chain with the corresponding wallets.
• Step 3: Input (or slide) the amount you want to convert. Then, click Convert.
• Step 4: After that, there will be a confirmation step, you need to select Done to execute your order, or you can Cancel.

Option 2: Use Cross-chain Bridges to transfer tokens to PRC-20 Tokens

As Avalanche is also a well-known blockchain, almost all bridges on the market currently support asset transfers to and from the Avalanche Network. You are free to select any bridge that makes you feel at ease, such as Multichain, Coin98 Bridge, Celer Bridge, Allbridge, Ren Bridge, Hot Cross, Boring DAO, etc. I'll suggest a few bridges here:

1. cBridge

cBridge introduces cross-chain token bridging experience with deep liquidity for users, highly efficient and easy-to-use liquidity management for both cBridge node operators and Liquidity Providers, and new developer-oriented features such as general message bridging for cases like cross-chain DEXs and NFTs.

cBridge currently supports 26 blockchains, ranking 8th in the market with more than $720M in TVL.

2. Multichain

Multichain is a fully decentralized cross-chain swap protocol for various tokens with an automated pricing and liquidity system. Additionally, the protocol is powered by Fusion’s Decentralized Control Rights Management (DCRM) technology, boosting Multichain's ability to swap any coins/tokens on any blockchains that uses ECDSA or EdDSA as a signature algorithm.

Multichain now supports more than 40+ different blockchains, allowing users to have multiple choices when transferring assets.

3. Allbridge

Allbridge provides an easy and reliable way to transfer assets between different blockchains. It acts as the bridge between EVM and non-EVM chains. Allbridge supports up to 13 chains and more to be announced in the future

Transfer AVAX coins (ARC-20) from the Coin98 Super Wallet

To transfer tokens from a decentralized wallet to another, follow these simple steps. I'll show you how to transfer AVAX from your mobile wallet.

Step 1: Click the Avalanche wallet.

Step 2: Choose Send.

Step 3: Select the token, the number of tokens you want to send & the wallet address to send to. Adjust the Gas fee slider to suit your needs → Slide the Send bar to confirm.

In addition, you can also click Send on the main interface, then select the Avalanche wallet you want to send from.

Note:

• The gas fee for each transaction is paid with AVAX, approximately 0,000521 AVAX.
• The default gas fee on the Coin98 Super App has been set at the standard rate that offers the most optimized speed at a reasonable cost.

Skin in the game with Avalanche Network

After transferring AVAX to Avalanche Blockchain, you can skin in the game in Avalanche Ecosystem and earn interests.

Learn more: Avalanche Ecosystem Overview

Lending

Benqi is a money market protocol that allows borrowers and lenders to use the project. Users are able to lend their digital assets, while earning passive income in return for providing stability at risk-free rates of interest through Benqi's proprietary smart contract system on the Avalanche network.

Launchpad

Avalaunch: Avalaunch is the first Launchpad project in the ecosystem and is supported by Ava Labs. There have been quite a few projects listed on Avalaunch, including the Crabada (Play-to-earn) game that has had a massive ROI of more than 100x (ATH-price) since IDO.