If i buy now ETN on a Exchange and transfer

Question

If i buy now ETN on a Exchange and transfer

the coins to a Wallet, the new chain will automaticly change and a didnt have ti do something? i dont know much about Crypto

#cryptocurrency #electroneum #english

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10.10.2023

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BegaMutex · Accepted Answer

Yup. After launch, wallets will automatically bridge your coins over to the new smart chain. So here is a common example, you have some ETN which you have sent to a nice safe paper wallet. The new smart chain launches and an update is done to the existing chain ready to start bridging. You dont have to do anything at this point. It can stay on your paper wallet. Now when you are ready, you can use the CLI (command tool) to take control of that paper wallet OR if more comfortable, just import the paper wallet into your Electroneum Online/Mobile wallet. Whichever you prefer. Now when you do this, the coins will be automatically bridged to the new chain. What does that mean? Bridging is simply the coins are sent to a bridge wallet where they are destroyed on the current blockchain and the same amount will be created on the new smart chain for you. It will all be trackable and transparent. Over time, all the coins will slowly move over to the new smart chain. There is no rush, and plenty of information and guides will be provided. The only advice i would give people.... not just around an upgrade like this, but at ANY time. Do not leave your crypto on an exchange. 👍

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If i buy now ETN on a Exchange and transfer

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