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What is the difference?

Exchange Monero to Binance Coin

What do you need to know?

  • ­ The average time for the exchange of XMR to BNB is from 6 to 10 minutes
  • ­ You need 2 confirmations of the Monero blockchain for the exchange
  • ­When sending Monero Payment ID, you do not need to enter, we use integrated wallets
  • ­Memo is the BNB payment ID. If you need it when sending a transaction, be sure to include it

Monero is the most anonymous cryptocurrency

Monero works on the CryptoNote algorithm, unlike public blockchains (for example Bitcoin, Ethereum), when it is sent, neither the sender, nor the recipient, nor even the amount that was sent can be seen, thanks to Ring Signatures and invisible addresses (Stealth Addresses).

How to confirm the fact of sending funds in Monero blockchain?

Monero uses 2 types of “special” private keys: a private send key (used to send funds from your wallet) and a private viewing key that allows you to decrypt transaction and see the amount of funds sent.

Using this private viewing key, sender address, and Monero software, you can decrypt the transaction and confirm the sending.

You can read more about this in our article — How to prove Monero transaction?

Transaction processing speed

The average block release time is about two minutes. But sometimes delays do occur, and the block exit time can take 10-20 minutes.

Monero network fee

Transactions on the Monero network are very cheap, even at peak network times they are only a few cents.

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Binance Coin (BNB) — Binance Exchange Token

The BNB Coin cryptocurrency was released through an ICO that took place in July 2017. As a result, they raised $15 million. Binance Coin was created as an ERC20 token and originally worked on the Ethereum blockchain. But in 2019, the coin "moved" to its own blockchain. The ERC-20 standard is still adopted by the Binance exchange.

What is a Memo and do I need to specify it?

There is an additional Memo field when submitting Binance Coin. Memo is the ID of the payment. It is unique, and with its help the service identifies the sender and recipient. Many services have address protection, which does not allow transactions without Memo.

If it happened that you forgot to specify the Memo or specified it incorrectly:

  1. Check if the transaction went through. To do this, you can use the explorer.binance service.
  2. If the transaction is not confirmed, write to our technical support. We will help you resend it.
  3. If, nevertheless, the transaction went through, then, unfortunately, we will no longer be able to help. In this case, you should write to the technical support service of the service to which you sent it.

Binance Coin Blockchain Speed

BNB is considered to be a fast blockchain. The transaction is confirmed in a few seconds.

exchange in 3 easy steps

  1. Enter the desired amount of Monero and write your wallet address to receive currency.
  2. Click the "Exchange now" button and you will be taken inside your order.
  3. Send Monero to the address from your order, after the required network confirmation, Binance Chain will be sent instantly.