Recently, Banano value jump to the peak of $0.05USD from its usual $0.009USD. And sadly, I wanted to cash out my banano and I can't because I have no idea how to do it!
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| Banano - From $0.009USD to $0.054USD |
I've learned my lesson, I missed the best time to cash out while keep seeing the value drop before my very eyes. So I hope this article can help someone who has the same situation as I did.
If you've follow my post earlier about Folding@Home (FAH), by now you may have learned how to earn it, or may already have some Banano in your wallet.
What's next?
Yup, as everyone would has, the same question with regard to "what can we do about the earned banano?". If you have the same question, you are at the right place! Let's go through the steps together below!
Wrapping Banano into Wrapped Banano (wBan)
You can convert (or wrap, that's how they call it) your Banano into wBan before you can do anything with your hard earned Banano.
In this article, I would only focus on WHAT instead of WHY. The "WHY" topic is a whole conceptual topic to discuss about, especially when I hope to make it more beginner friendly for those who are new to the blockchain world. P/s: Btw, I'm not an expert though, there are a lot more stuff to explore.
Steps: Banano to wBan Wrapping
In the steps section, what's writen below are based on Chrome browser (it has the most user base).
Prerequisites
Before you can continue, you must have:
- BNB, Binance Coin (beginner may find this difficult. Be warned, spending a little real money, or fiat money, to make this transaction success)
- Banano coins
- A Banano wallet
- Chrome Browser
- MetaMask from Chrome Web Store
- Created wallet in your MetaMask with some BNB deposited (approx ~$2USD)
Steps
- Install MetaMask Chrome Extension
- Visit bsc.banano.cc and "connect" your wallet through MetaMask (chrome extension from 1st step)
- Follow the wallet creation step as needed in MetaMask (follow the instructions from the extension)
- Transfer your banano to wBan (make sure your sender and receiver addresses are accurate, it's always better to us QR scanner than typing it manually)
- After trasnfered, your Ban coin will show up pretty fast. Fill in amount you want to wrap into wBan.
- Before you can continue, please make sure you have a little amount of BNB in your MetaMask wallet for "gas fee" or transaction fee. (You can get it through many platform: check out the "buy" button here)
- After purchasing from a platform, first you need to transfer them to your MetaMask BNB coin wallet address. Yup, this transaction cost gas fee too.
- Back to the wBan wrapping screen you now can start wrapping. Add wBan coin to your wallet by pressing "Add wBan to MetaMask" button.
- Pressing the "wrap" button, MetaMask will prompt you to confirm the transaction.
- After the transaction is confirmed, amount of wrapped wBan will reflect on your MetaMask wallet.
- Convert/swap your wBan to different coin, where this coin must be a coin that allow you to easily cash out on different platform, for example BNB coin.
- After you swap wBan into BNB, withdraw it to BNB wallet address, usually it's where you first get and where it's transferred from on step 7.
- Now you have more BNB. You can then decide further invest it or cash out to enjoy your earning.
Enjoy!
