Cardano (ADA) and Binance Coin (BNB) are both widely used cryptocurrencies. They were initially developed for different purposes, but because of increasing crypto adoption, their use cases expanded and are now being used as a payment method for cross-border transactions and yield multiplication.
However, some users swap their ADA holdings for another token for certain reasons. Better earning opportunities and convenience to name a few. With that said, if you’re an ADA user and would like to swap your tokens for BNB, this article has the info you need. Also, be sure to sign up on Ka.app now.
What Is ADA?
ADA is the native crypto of Cardano, a decentralized blockchain platform that uses applications (e.g., smart contracts) and has purposes similar to Ethereum. Its code ADA was from Augusta Ada King, the first computer programmer.
ADA was originally made to help process transactions in Cardano, being provided as a reward to users who participate in the blockchain’s staking pool. Nowadays, crypto enthusiasts also use ADA for trading, buying, selling, sending, receiving, swapping crypto, etc.
What Is BNB?
Meanwhile, BNB is the native crypto Binance Chain, the blockchain network of the Binance crypto exchange. The token was created as a utility token in 2017, offering better trading rates in Binance. BNB has grown so much since then and is currently one of the five largest cryptocurrencies in terms of market capitalization.
What Is a Crypto Swap?
Crypto or token swap is a process that allows you to directly convert one digital currency to its equivalent value in another. Notice the term “directly,” because there’s no “middle” currency involved in the process (e.g., no more converting crypto to cash or fiat first before you can convert it to another crypto).
Where to Swap ADA for BNB?
Crypto swaps are more popular now than ever, so you can easily find a platform that facilitates them. These include some crypto exchanges, financial technology (FinTech) platforms, crypto conversion sites, some crypto automated teller machines (ATMs), crypto conversion sites, and crypto payment apps for beginners like Ka.app. Create an account now.
Cardano to Binance Coin Swapping Guide
There are two ways to convert ADA to BNB in Ka.app. The step-by-step guides for each are as follows:
1. Swap Feature
Ka.app has a Swap feature that enables you to swap various cryptocurrencies quickly and easily. Here’s how you can transfer ADA to BNB:
- Log in to Ka.app.
- Go to the home screen and find “Cardano.”
- Tap the Swap icon.
- Tap “Binance Coin.”
- Enter how much ADA you want to swap for BNB or choose the swap percentage (10%, 25%, 50%, or 100%).
- Enter your pin code to confirm the swap.
- Wait for swapped assets to reflect in your wallet.
2. Easy Swap Engine
The Easy Swap Engine converts the payments you receive to your preferred currency. When you enable this feature, you can automatically receive ADA payments in BNB in just a few seconds. Here’s how you can set it up:
- Log in to Ka.app.
- Tap the settings icon on the upper right part of the home screen.
- Once the drawer opens, tap “Easy Swap.
- Tick “Enable Easy Swap.”
- On the first dropdown, choose “Cardano” and if applicable, all the other currencies you want to swap for BNB.
- Choose “Binance Coin” on the second dropdown.
- Converted payments will automatically reflect in your wallet.
How Much Are the Swap Fees?
Swap fees may be different for each platform, but they’re often some percentage of the swap value. In Ka.app, swap fees depend on whether the user has locked up KASTA tokens using the app’s crypto staking feature or not. Those who lock up tokens enter tiers that provide interest and lower swap rates in different percentages, depending on how much they’ve locked up. Swap rates can go as low as 0.376%.
How Long Does It Take to Complete a Swap?
Again, it may vary per platform. It usually depends on what network they use and the type of crypto you swap. In Ka.app, swapping usually takes just a few seconds.
Which Currencies Can I Swap in Ka.app?
As of writing, Ka.app accepts ADA, BNB, Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Tether (USDT), USD Coin (USDC), Binance USD, Polkadot (DOT), and KASTA tokens. If you're from the European Economic Area (EEA), you'll also be able to swap euros for crypto in the app and vice versa.
Final Thoughts
One of the best things about crypto swapping is being able to switch to a different currency without an intermediary. It’s easy, and with the right platform, can take only a few steps.
What is Ka.app?
Ka.app is a crypto payment platform and wallet. It allows you to send Bitcoin and other cryptos for free to other Ka.app users, and you can also use it for crypto swapping, crypto staking, and more.
Is it safe to swap crypto in Ka.app?
Your assets are safe in Ka.app, both for transactions and storage. Ka.app passed delicate security audits and complies with laws and regulations that prevent money laundering, fraud, hacking and other illegal financial activities.
Is there a swapping limit in Ka.app?
There are no swapping limits in Ka.app. You can convert as many currencies as you need. Click here to sign up.
