How are SLP chips sold?

How are SLP chips sold?

After some time of our adventure in Axie Infinity, we can finally obtain the desired earnings in SLPBut the process of converting it into real money can be complicated for some people. That is why we offer you the following guide for you to exchange your SLPs for real money on Binance.

Inside this guide we will see what you will need to send SLP to BinanceWhat is the procedure and additional details you should know. Don't stay with the doubt and come to know how to sell SLP chips to exchange it for money in your bank account.

Process for selling SLP tokens

For successfully transfer our SLPs to Binance first of all we will need to log in to our Axie Infinity account in the browser. When we are ready to log in, we will choose the "Login with MetaMask" option to connect the MetaMask wallet with the Ronin wallet.

Follow the steps below to move your SLPs to the Binance wallet fast and easy:

  • After selecting login with MetaMask you will get a pop-up menu asking you to confirm the digital contract to connect both accounts.
  • Upon signing the contract we will be taken to the Axie Infinity home page and we will be shown all available options.

After entering the main page you can see all the tokens you have available on the side of the screen, you can see your AXS, your Axies, your Lands and your SLP. The amount that is reflected in this menu is the amount of tokens you have available. quantity you have available for pick up.

  • After verifying our available tokens, we have to go to the "Bridge"You must complete the process here. It is a prerequisite to complete the process here.
  • The page will refresh and will show us several options, deposit, withdraw and update the old AXS and SLP. For this case we will select withdraw or withdraw.
  • When you click there, you will be taken to a page with a form, the first thing to do is to confirm from where you are sending our SLP and to where. In this case it should go from Ronin Network to Ethereum Network.
  • The next step is to place our ETH address in the "Ethereum Address" field to look up our ETH address we will go to the MetaMask extension and copy the address.
  • Copy the address and paste it into the field.
  • Then we will be asked for the token we want to withdraw, in this case we must choose SLP among the many options.
  • In the following field we will see the total number of SLP we have in our account. We must select the amount we want to withdraw, if you want to withdraw everything click on "Max".
  • With all the fields filled in, confirm the information and click on continue.
  • We will be shown a window indicating that the transaction has a cost on the Ethereum network, which can range from 8,19$ to 1,94$ depending on the transaction speed.
  • We confirm that we want to pay this fee and click on continue.
  • It will send us to a small summary of the transaction where it will show us the number of the transaction. SLP to withdraw and from which network to which network it will go. Verify everything and click on Confirm.
  • A pop-up menu will open in our Ronin wallet requesting confirmation of the transaction. Click on confirm and the withdrawal will be completed.

After a few minutes, the Ronin network will authorize the transaction and we can see this visually reflected when the Ronin logo turns green. Now it's time to wait for the confirmation from the Ethereum network validating that the transaction was successful.

For this we will need our MetaMask is on the Ethereum mainnet.validating this detail, click on the " " button.Confirm Through MetaMask". After clicking this, a pop-up menu will open asking us to confirm the transaction to our MetaMask wallet. Here we will be shown the commission we have to pay to withdraw in ETH, on average about 10$.

Click on confirm and that's it.the Ethereum network to authorize the transaction. and we have our ETH available. If you want to know the status of the transaction, you can click on "View Etherscan" and check the status.

Transfer SLP from MetaMask to Binance

An important point to bear in mind is as followsote the SLP as a token in our MetaMask wallet. For this we will go to coingecko and look for SLP, inside the page we will see the option "contract" next to the MetaMask logo. Click on the fox and a contract will open in the MetaMask extension to confirm the SLP as a token.

After doing this, the token will be displayed. SLP as a valid cryptocurrency in MetaMask along with the amount that was transferred. With this detail resolved, we can now transfer the SLP from MetaMask to Binance.

Steps to follow to deposit SLP in Binance

  • You log into your Binance account from your computer and select the "Wallet" option.
  • Select "Spot Wallet".
  • Within the Spot wallet we will see all the available balance in cryptocurrencies that we have available.
  • In the search field, type SLP and select the first SLP result, the SLPOLD is for people who have not renewed the contract.
  • On the right side of the option you will see "Deposit"Click on this option and it will take you to a new window.
  • In the new window you will be shown the address of your SLP wallet, including the address of your SLP wallet. This will be the address to which we will send the SLPs from our MetaMask, we proceed to copy it.
  • Go to MetaMask and select the "Send SLP" option that appears after hovering over the token.
  • After clicking there, you will be asked to enter the recipient's address, paste the address you copied from Binance.
  • Now we will be shown a submission form, the first thing we must confirm is that next to the address is marked in green. This indicates that the wallet corresponds to that token and it is valid for receive SLP.
  • Now we fill in the amount field with what we want to send and select the type of fee we want to pay. It depends on the speed, the slower it is, the cheaper it will be.
  • Click on continue and then click on "Confirm" if you agree with the shipping conditions.

You wait a few minutes for the transaction to be confirmed and that's it, you will already see your SLP balance reflected in the Binance wallet.

Selling the SLP within Binance for USDT

When the transaction is reflected in our Binance account, we look for the token in our Spot wallet and search among the options on the right for the one that says "-".Tradear". We pass the mouse over it and it will show us several pairs for which it can be exchanged, let's go to select USDT.

It will take us to a new window with a lot of graphs and numbers, we should focus on the section of Sell SLP. There we will put the amount of SLP we want to sell for USDT and the page will automatically show us how much we will receive in USDT. Click on "Sell SLP"and that's it.

The transaction will be reflected in your wallet and you will be able to trade with USDT.. You can exchange it for currencies in your bank account through Binance marketplace or buy other cryptocurrencies. We hope that all the information presented in this article has worked for you. successfully exchange your SLP for USDT on Binance.

Remember to follow the steps to the letter and verify all the wallet addresses we entered. As you could appreciate the process is simple if you follow the steps presented in this guide. We look forward to seeing you in the next installment.

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