How to Transfer AXS and SLP from Axie Infinity Ronin to Binance
The biggest cryptocurrency exchange in the world when it comes to trading volume, Binance, is now supporting Axie Infinity through the direct integration of the Ronin wallet to its exchange. It was recently able to open withdrawals and deposits for SLP and Ronin AXS tokens. Withdrawals for the Ronin network became open last September 4, 2021. With this, managers and players can now have their AXS and SLP deposited or withdrawn with minimal gas fees. The recent move made by Binance can definitely help Axie Infinity’s entire ecosystem as the gas fees of the blockchain Ethereum has been getting too high.
Right now, Ethereum has average gas fees from 3,000 PHP to 4,000 PHP. Right now, Ronin to Binance is free.
Withdrawals and deposits of assets coming from the Ronin wallet are among the managers’ and players’ major concerns as the gas fees decrease the income they earn from the game. Meanwhile, a lot of the buyers and sellers of AXS and SLP in the P2P marketplace have reduced their price from -1 to -.5 according to the Binance price rates.
How can you withdraw SLP from Ronin to Binance?
(1) Go to your spot wallet in Binance and look for AXS or SLP.
(2) Select the network “Ronin” network and have the “0x” from your address replaced with “ronin:” (make sure to remember including “:” in the input.) It will show this notice:
(3) Have the address copied to your Ronin wallet and then wait for several minutes until it gets reflected in your spot wallet account in Binance.
If the SLP “RON” network appears to be suspended temporarily on Binance, it would be better if you could use any of the alternative networks until it fully works.
How You Can Withdraw SLP and AXS from Binance and Deposit to Ronin in Axie Infinity?
Go to Binance and check out the Withdraw (SLP or AXS) page.
When you get to the Withdraw page, select the network Ronin.
Have your Ronin Address pasted but have “ronin:” replaced with “0x.”
For this, the network fee is 0.005 AXS. When it comes to SLP, 1 SLP is the network fee.
Make sure to check out the latest updates on Axie Infinity and Binance. According to the team of Sky Mavis, having to build on the main net of Ethereum is quite similar to training inside Dragonball Z’s hyperbolic time chamber. There has been increased pressure weighing on them because of the high transaction fees. For Axie Infinity, the creation of the wallet Ronin has already been quite an achievement. Their recent integration with Binance can allow the gaming industry and trend to get to a higher level.
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