In this guide, I will show you how to transfer your Litecoin to Binance Smart Chain (BSC) via the Binance bridge to earn interest. The bridge makes it possible to send BTC, LTC, BCH, and ETH to BSC, where they will be backed with BEP2 ( their native coins in reserve). Basically, the transferred LTC will represent its value on the BSC. By doing so, you could still be holding the LTC, but you also can earn interest by providing liquidity or yield farming. There is an LTC-BNB pair on Panckake swap exchange with an APR of around 100%. The interest will be paid in the CAKE token. CAKE could be easily exchanged for other tokens or even staked in the platform. So let’s see how to earn interest on Litecoin with Binance Smart Chain.
Litecoin to Binance Smart Chain via the Binance bridge
1. Open binance.org/en/bridge and click over assets. Chose the coin you like to transfer. In this guide will be Litecoin.
2. Select the coin you wish.
3. Connect MetaMask and enter the amount. Follow this guide if you don’t have MetaMask.
4. Click next.
5. Select the 4th option if you are sending the funds from another wallet and click next.
6. Press confirm.
7. Scan the QR code or copy and paste the address in your wallet. The process will take a few minutes.
8. You need to wait another few minutes when the window below shows on your screen. When the confirmation reaches 4 out of 4, your Litecoin will appear in the MetaMask wallet.
Congrats, now you know how to transfer Litecoin to Binance Smart Chain. Check out our guide on how to provide liquidity in pancake swap to earn interest and yield farming.
Note that some risks are involved with yield farming and liquidity providing such an impermanent loss or bug in the smart contract.