How to transfer fund to local wallet for Generate ID?

Nodes & Mining Problems
#1

What is the best way to send funds from Binance to NKN wallet?
I am stuck at CreateID phase of setting up a local miner.

Thanks in advance,
Wai

#2

Binance and most exchanges support ERC-20 NKN tokens, while NKN mainnet needs mainnet tokens. There are a few ways to acquire tokens for starting a mainnet node:

  1. Official way: from Binance, get ERC-20 NKN tokens, send to a personal ERC-20 wallet (e.g. metamask). From personal ERC-20 wallet, use the official token swap tool https://swap.nkn.org to swap into NKN Mainnet tokens. This is a bit complicated, and needs to pay quite a bit ETH gas fee for the two transfers.

  2. Alternative way: join our Discord server, there is a otc-use-with-caution! channel, where reputable community members offer NKN Mainnet tokens directly. This is a bit risky, but might save you time and cost if you use caution and only use OTC service from reputable members.
    https://discord.gg/yVCWmkC

#3

Going through Binance will incur a minimal withdrawal 118 NKN, including a transaction fee of 58 NKN!!!

The alternative is going through Uniswap, sometimes the transaction fee is lower than Binance and it’s less steps to know.

I wish I tried Uniswap instead of Binance.