Onyxcoin (XCN) is a decentralized digital asset on the Ethereum and BNB Smart Chain blockchains, serving as the governance and utility token for the Onyx Protocol. While XCN staking was initially supported only on the Ethereum network, a partnership with Earn Network has now brought staking solutions to the BNB Smart Chain as well. In this article, we will explore the methods for obtaining and bridging XCN to the BNB Smart Chain, enabling you to stake your tokens and earn profits while benefiting from lower transaction costs.
To learn about all the ways to acquire XCN on the BNB Smart Chain, be sure to read our article. Here are the steps to follow based on your current XCN holdings:
If you don't have XCN:
Buying and Withdrawing from a Centralized Exchange:
- Visit the MyCointainer platform, which provides competitive rates for purchasing XCN tokens using credit cards.
- You can also exchange other supported cryptocurrencies, such as EUR, USDT, or BTC, for XCN tokens on the platform.
- Tokens held on MyCointainer start earning rewards, as they utilize Earn Network pools capabilities. If you prefer decentralized solutions, you can withdraw your tokens right away using the BNB Smart Chain network.
Using a Decentralized Exchange:
- Another option is to acquire XCN tokens on the BNB Smart Chain by using a decentralized exchange (DEX) and swapping your BNB for XCN.
- PancakeSwap, the leading DEX in the BSC ecosystem, supports the BNB to XCN exchange. Keep in mind that the trading volume on PancakeSwap may be lower, leading to potentially higher token prices due to limited liquidity.
If you're holding XCN on the Ethereum Network or a centralized exchange (CEX):
- Withdraw your funds from CEX to a non-custodial wallet using the Ethereum Network.
Onyx Bridge from Ethereum to BNB Smart Chain:
- If you already hold your Onyx tokens in your Ethereum wallet and wish to bridge them to the BNB Smart Chain, the best option is to use the Onyx Bridge.
- The Onyx Bridge provides a straightforward method for transferring tokens between ETH and BSC. Refer to their official article for a detailed guide on how to use the bridge.
- Additionally, Onyx is currently running a Gas Refund Program, which helps you save on ETH and BSC network fees.
Earn Network Staking Program:
- Thanks to the partnership with Onyx, Earn Network now offers XCN staking pools on the BNB Smart Chain.
- You can choose between locked and flexible staking methods and stake your Onyx tokens in a fully decentralized manner. For more information on this collaboration, refer to our partnership announcement.
In conclusion, there are multiple ways to obtain and stake XCN on the BNB Smart Chain. To summarize:
- Use the Onyx Bridge to transfer your XCN tokens from the Ethereum network to the BNB Smart Chain.
- Visit the MyCointainer platform to purchase XCN with a credit card or exchange it for BTC, EUR, or USDT.
- Explore PancakeSwap to exchange your BNB coins for XCN.
By following these methods, you can easily acquire XCN on the BNB Smart Chain and take advantage of its staking opportunities.