Learn how to easily transfer your crypto between Solana and other chains using cross-chain bridges.
Ever felt the icy grip of uncertainty while attempting to transfer your hard-earned crypto between different chains? The fear of losing your assets in the vast expanse of the blockchain world is all too real. But fear not, for we bring you a solution that shines through the darkness.
Let’s learn a little bit about Solana!
Since the launch of the Solana mainnet in March 2020, the platform has undergone several upgrades aimed at improving stability and efficiency, while maturation of the Solana developer tooling has made building on the platform simpler than ever before.
Despite early challenges, it is now easier to interact with the Solana blockchain with several popular and secure bridges now available.
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What Are Bridges?
Solana, like other blockchains, can use bridges to interact with different blockchains, ensuring that assets and data can flow between the Solana network and other networks.
While most users will use bridges to simply transfer their assets between chains, the mechanisms that enable these cross-chain transfers can be used to power more elaborate use cases — such as decentralized applications that utilize resources or functions from multiple blockchains simultaneously.
Popular Bridges to Solana
- Portal (Previously Wormhole): Currently by far the most popular Solana bridge by TVL, Portal supports Solana and 23 other L1/L2 chains. The platform has a flat bridge fee of 0.04% with a maximum fee of 1,000 USDC.
- AllBridge: AllBridge is a popular bridge that supports both EVM and non-EVM blockchains (including Solana). The platform features two main products, Allbridge Core for stablecoin transfers and Allbridge Classic for other assets.
We recommend performing your due diligence checks before using any bridge. They can vary considerably in their security and usability.
How To Bridge to Solana Using Portal
In most cases, bridging your assets to Solana is a quick and simple process. Your assets will usually be moved to Solana in less than just minutes.
Depending on your platform, you can expect to pay up to 0.3% of the transacted amount in bridge fees (not including transaction fees).
Step 1: Select Your Chains
First, you’ll need to tell the bridge which chains you want to transfer between. This means selecting the source chain (the chain you’re moving your assets from) and the target chain (in this case, Solana).
Step 2: Connect Your Wallet
This will pull up a prompt asking you to select from the range of supported wallet providers.
Choose the one that applies to you and connect your wallet when prompted.
Step 3: Select an Asset
Once your wallet is connected, you’ll be able to choose from the list of supported assets using the ‘Select a Token’ drop-down menu.
From here, select from the range of featured markets or search for the name of the asset you wish to transfer.
In many cases, the interface will automatically load your balance for the selected asset, helping you correctly identify the right token.
Once you’ve selected your target asset, enter the amount you wish to bridge in the ‘Amount’ field.
Step 4: Connect Your Solana Wallet
It’s time to connect your Solana wallet. Click the 'Connect' button and select your Solana wallet from the list of supported options.
After selecting the relevant option, connect to the bridge by following the prompts in your wallet.
Step 5: Create Associated Token Account
With your origin and target wallets now connected, you may need to create the associated token account in your Solana wallet. This will allow you to receive the token.
Click the ‘Create associated token account’ button and approve the transaction in your connected Solana wallet.
If you already have an associated token account, move to step 6.
Step 6: Bridge Your Funds
You’re now ready to bridge your funds.
In the subsequent section, approve the token transfer via the bridge interface and confirm the transaction in your connected wallet. Once this has been approved, send the assets to the bridge using the ‘Transfer’ button.
Portal will then begin the process of bridging your funds from your source wallet to the destination chain. It’ll keep you notified of its progress on-screen.
Step 7: Claim Your Tokens
Once the bridge process is complete, you’ll be able to claim your tokens from the bridge using your Solana wallet.
To do so, simply click the “Redeem’ button (when available) to claim your tokens.
How To Bridge to Solana Using a CEX
While the aforementioned options are available, users also have the option to bridge tokens from Solana to other blockchains using a centralized exchange (CEX). However, it is crucial to be aware of the security risks associated with using a CEX for bridging. Here is a step-by-step guide on how to bridge tokens from Solana to the Ethereum network using a CEX:
- Open an account with a CEX like Binance.
- Transfer ETH from your personal wallet to the CEX.
- Once the ETH is received in your CEX account, you can convert it to a native token on the Solana network, such as SOL. If not, you can simply move to step 4.
- Withdraw the SOL (or ETH) from the CEX and send it to your Solana wallet.
Please keep in mind that the steps provided here are for informational purposes only, and it is always advisable to conduct thorough research and exercise caution when utilizing any bridging method.