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How to transfer tokens to Near blockchain simply

If you want to transfer tokens to the Near blockchain but don't know how to go about it, this article is for you.
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vytran
5 min read
Published Oct 16 2021
Updated May 21 2024
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Prepare to transfer token to Near

The gas gwei level on the Near blockchain is currently around $0.0007 - $0.0008/transaction. So, to make transactions, only 0.5 NEAR ($6) can go a long way.

transfer token to near

Prepare tokens

Since nearly all CEXs currently support NEAR, you have complete freedom to choose where to make your NEAR purchase(s). The most popular Near-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 NEAR.

Prepare your NEAR NEP141 wallet to store tokens

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

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

Following these simple steps, you can store NEAR and other NEAR NEP141 tokens.

Step 1: Click on the Near wallet on the main screen.
Step 2: Select "Receive."
Step 3: Copy the wallet address or scan the QR code address and send your assets to this address
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store near token
How to get a Near wallet address on Coin98 Super App

Transfer tokens to Near Blockchain

After buying NEAR and having a Near wallet, you can participate in events or skin in the game in the Near 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 NEAR in the market, such as BSC (BEP20), Ethereum (ERC-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 a NEAR NEP141 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. I'll recommend a few exchanges here, such as Gate, Binance, KuCoin etc.

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

How to buy USDT through P2P

Step 1: Login to the Binance Mobile App. I recommend reading this "How to use Binance'' article.

Step 2: Choose “P2P Trading” in your Binance Homepage.

Step 3: In this step, you will see:

Number 2 indicates which fiat currency you have now to buy USDT.
Number 3 indicates which token you want to buy (e.g. USDT, BTC, BUSD, etc.).
Number 4 displays a list of sellers who will sell you USDT in exchange for your fiat currency.

After you've decided on your preferred sellers, simply follow the Binance instructions to complete the transaction (Remember to read the instructions carefully).

Buy and Withdraw NEAR to your wallet address

Now that you have USDT, you can purchase NEAR 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 NEAR.

Step 2: Transfer NEAR to the Near wallet by typing in your Coin98 wallet address.

Option 2: Use Cross-chain Bridges to transfer tokens to NEAR NEP1 Tokens

As Near is also a well-known blockchain, many bridges on the market currently support asset transfers to and from the Near blockchain. You are free to select any bridge below that makes you feel at ease. I'll suggest a few bridges here:

near bridge protocol
Near-supported bridges (Source: Nearians)

1. Rainbow Bridge

The Rainbow Bridge is the official bridge for transferring tokens between Ethereum, NEAR and the Aurora networks. The bridge is the product of Aurora, the Ethereum-compatible scaling solution built on NEAR.

Rainbow Bridge Website: https://rainbowbridge.app/transfer

You can use the bridge to move tokens between any of the three networks. Transfers to NEAR & Aurora require a single transaction, and take up to 10 minutes. Transfers to Ethereum require two transactions, and can take up to 12 hours.

2. 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.

Allbridge Website: allbridge.io

The mission of Allbride is to remove any borders among different blockchains, which maximizes the capital efficiency in the DeFi ecosystem. Therefore, if you need to move assets from any network to the Near blockchain, Allbridge is a good option.

Transfer NEAR coins 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 NEAR from your mobile wallet.

Step 1: Click the Near 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.
How to send NEAR to another decentralized wallet address

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

Note:

The gas fee for each transaction is paid with NEAR, approximately 0.0008 NEAR.
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 Near Ecosystem

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

Near Ecosystems 1
Near Ecosystem 2 (Source: Coin98 Analytics)

Lending

Aurigami and Bastion are two of the most prominent lending platforms on Near blockchain. Aurigami is the leading money market on Aurora. They’ve already received grants not only from Near Foundation but also Aurora and Proximity Labs.

Another notable money market candidate on Near is Bastion Protocol. Bastion Protocol is the second winner of the money market category on Aurora (and in the Near ecosystem). Like their competitor Aurigami, they also received grants from Near, Aurora and Proximity Labs. At first, their product is a Compound-fork, but then they develop the Realm mechanism - a fork model of Rari Pool.

Bastion Protocol Website: https://app.bastionprotocol.com/

Yield Farming

Ref Finance is the first AMM DEX project to launch mainnet on NEAR, similar in design to Uniswap. It is a stack of DeFi services and products built around a core AMM.

Ref Finance Website: https://www.ref.finance/

If you're interested in learning more about Near Protocol and the investment opportunities it offers, I recommend checking out this article. Hopefully, this will be beneficial to you!