Introduction
When you are touching DeFi, isn’t the transfer of funds dependent on BINANCE ?
BINANCE is convenient because there are many currencies and networks that can be traded.
On the other hand, it is becoming necessary to prepare for measures when access to BINANCE is restricted.Because, recently, BINANCE is moving with awareness of regulations.Bridge Smart Contract Development Services
Withdrawals have changed from 2 BTC / day to 0.06 BTC / day for accounts without identity verification.
In addition to changing withdrawal restrictions, there are ongoing moves to comply with regulations, such as changing the upper limit of the futures leverage ratio.
In such a situation, many people feel that the risk of operating with high dependence on BINANCE is high.
There is a non-zero possibility that Japanese users’ accounts will become unusable and access from Japan will be restricted.
refore, in this article, we have summarized the remittance routes for funds when using Ethereum, BSC, Polgyon, and Fantom via the current BINANCE.
Then, in case BINANCE became inaccessible, we considered a route for remittance of funds using other overseas exchanges.
In conclusion, even if BINANCE cannot be used, it is possible to transfer funds in the same way as BINANCE by combining it with other overseas exchanges.
And, not limited to BINANCE, even if overseas exchanges are in a very strict situation such as restricting accounts of Japanese nationality or restricting access from Japan, Cross chain bridge development, with accounts that do not authenticate themselves using VPN. It is possible to continue trading.
I hope that those who have only used BINANCE will find it helpful when starting to use other overseas exchanges and VPNs.
We have also summarized cross-chain remittances between networks, so we hope that it will be helpful in expanding the range of fund management.
Current status of remittances and cross-chains from Japan via BINANCEWhen sending funds from domestic exchanges to each network, the main flow is to send BTC, ETH, XRP, etc. to BINANCE once, and then send them to each network.ETH (Ethereum) and JPYC (ERC20, Polygon) are the currencies that can be sent directly from Japan to the network.
There are three advantages to using BINANCE to touch DeFi.
Many networks can send money
Many currencies can be sent directly to BSC
Supports BTC → WBTC bridge
Remittances from BINANC can be sent to many networks such as Ethereum, BSC, Polygon, Fantom and Solana.
I want to operate BTC and ETH without selling them, so it is convenient to be able to send money directly from BINANCE to BSC.
Also, when operating BTC with Polygon, it is necessary to convert to WBTC, so it is also convenient to be able to convert from BTC to WBTC with BINANCE Bridge.
Cross-chain remittances from each network are also being enhanced, and Anyswap, Supra, xPollinate, and O3Swap are compatible with stablecoins such as USDC.You can use AnySwap to send USDC to each network, and O3Swap also supports ETH and WBTC transfers between Ethereum and BSC.Anyswap between BSC and Polygon has been used frequently since the time of the TITAN boom.Since the cross-chain has been enhanced, once the funds are remitted, it is possible to operate across networks.
Under these circumstances, using only BINACE as a means of remittance has the disadvantage that if BINANCE cannot be used, the remittance of funds will be delayed.
Remittance method when BINANCE becomes unavailable
BINANCE is very convenient when you touch DeFi, but if you should not be able to access BINANCE, the means of remittance to each network will be very limited as shown in the figure below.
For domestic remittances to the blockchain, you can only send ETH to Ethereum or JPYC to Ethereum and Polygon.
On the contrary, it is safe to say that not only ETH but also JPYC is an option, but since the use of JPYC is limited, the recovery of funds is quite limited.
Considering future price increases and taxes, ETH wants to refrain from selling.
By the way, Build a cross chain bridge the purchase method of JPYC is summarized here, so I hope it will be helpful.
Remittance means via overseas exchanges other than BINANCE
Next, if access to BINANCE becomes unavailable, is it possible to continue operation using other overseas exchanges? From this point of view, the remittance methods are summarized in the figure below.
If you combine it with cross-chain remittance, you can see that you can manage funds without using BINANCE.
However, when I examined the currencies and networks supported by each overseas exchange, I found that it is not enough to have only one overseas exchange as an alternative to BINANCE, and it is necessary to combine multiple overseas exchanges.
In particular, the only exchange that can send BTC directly from Japan and exchange BTC for WBTC is CoinList.
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