Changing one token of a particular blockchain to another blockchain network is known as token swap or token migration. Usually, a project uses one blockchain to grow funds (e.g: Ethereum) and then migrates its tokens to another proprietary blockchain once the mainnet is launched. There are various reasons for digital assets swapping or migrating.
Token swaps involve two parties exchanging different token types (for example, token A and token B). As part of a token swap, one party pays a certain amount of token A to the other party and receives a certain amount of token B in return.
The ABBC network aims to revolutionize payment with its blockchain technology. With our blockchain platform, all users can transact cryptocurrencies smoothly and easily. As an additional benefit, users are able to create transactions at their convenience through our digital wallet service.
Our native cryptocurrency, ABBC, is essential to the success of our ecosystem. Currently, ABBC is using its own blockchain technology, but for the ease of users, they can swap the ABBC Coin to 5 different networks using ABBC Swap.
ABBC Swap provides a platform to the esteemed community where they can easily swap their ABBC Coins, ABBC Foundation recommends using Aladdin Wallet and Aladdin Pro Wallet for converting their coins to other networks such as Ethereum, Polygon, Avalanche, Binance Smart Chain, etc.
Swapping ABBC Coins can be swapped through different cryptocurrency exchanges but it is recommended to use ABBC swap to gain a seamless experience. It opens a wide crypto portal to crypto enthusiasts where they can enjoy buying and selling without the need to create accounts on exchanges and abide by the policies and legalities.
ABBC Foundation has announced that there will be new networks added but currently, the supported networks for the swap are
- Binance Smart Chain
It is necessary to have a MetaMask wallet in order to swap ABBC from its mainnet to Binance Smart Chain (BSC). In addition, it is highly recommended to use the Aladdin and Aladdin Pro wallets to ensure a smooth transaction and prevent any loss.
If you have a MetaMask wallet just connect it to the ABBC Swap, make sure that you have selected the correct network before hitting the swap button. For example, Binance Smart Chain is the correct network when swapping your ABBC to Binance ABBC (BABBC).
If you are using MetaMask for the first time, your mainnet will be Ethereum by default. Upon installing MetaMask in your browser and clicking the “Connect to Wallet” button, you will have access to your wallet. When you click the Binance Smart Chain button on the ABBC Swap page, the page will ask for your permission. Click the “Approve” icon to get started.
It may seem complex to carry out a token swap, but you can do it easily with the right knowledge and resources.
Depending upon personal choices, people can use centralized exchange or decentralized exchange for buying and selling cryptocurrencies. While most users still prefer using centralized exchanges as it is theoretically safer, decentralized exchanges are becoming a new technology that stands to become the standard in the future due to its convenience.
Token swap does not require any skill, but one has to research a lot in order to get the expected outcomes. It is not likely that people get the exact pair that they are looking for.