Last updated on March 7th, 2022
If you have bought some ANC on an exchange and are looking to send it to Terra Station, you will need to send it via the Terra network.
Here’s a step-by-step guide on how you can do so:
How to send ANC to Terra Station
Here are 4 steps to send ANC to your Terra Station wallet:
- Buy ANC on a platform that supports Terra network withdrawals
- Obtain your Terra Station wallet address
- Withdraw ANC using the Terra network to your Terra Station wallet
- Receive ANC in your Terra Station wallet
Buy ANC on a platform that supports Terra network withdrawals
The first step you’ll need to do is to buy ANC on a platform that supports Terra network withdrawals. Here are 3 platforms that you can consider:
|KuCoin||Up to 0.1%||2 ANC|
|Binance||Up to 0.1%||0.2 ANC|
|Gate.io||Up to 0.2%||1.4 ANC|
In terms of ANC withdrawals, it seems that Binance offers the lowest withdrawal fee.
Obtain your Terra Station wallet address
The next thing you’ll need to do is to obtain your Terra Station wallet address.
On either platform, you can click to determine the deposit address. This is where you’ll be sending ANC to.
If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.
This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!
Withdraw ANC using the Terra network to your Terra Station wallet
The last step you’ll need to do is to withdraw ANC from the platform of your choice to the Terra Station wallet. For Binance, you are only able to send ANC using the native Terra network.
However, for Gate.io or KuCoin, you are able to withdraw ANC using either the ERC20 network or Terra network.
As such, you will need to ensure that you are using the Terra network to send ANC, and not the ERC20 network.
Receive ANC in your Terra Station wallet
Once the withdrawal has been processed, you should receive ANC in your Terra Station wallet.
With the increasing popularity of the Anchor Protocol, you may be looking at buying some ANC to participate in the governance of this protocol.
However, don’t forget to send ANC via the Terra network, and not via the ERC20 network!
This process is similar to how you would send UST to Terra Station.
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