SPARTACUS1971: How to convert VRA to VRAB

There are two kind of conversion for verasity token.

VRAB conversion & withdrawal in Verawallet
VRAB Conversion on Binance

today i discuss both kind of conversion here.

VRAB conversion & withdrawal in Verawallet

The process of swapping the ERC-20 VRA token on the Ethereum Blockchain onto the Binance Chain should be convenient for the end user.

We’ve made it as easy as possible for you to convert your VRA tokens into VRAB from within the VeraWallet.

Below is the step-by-step guide on how to do this:
In ‘My wallets’ of your VeraWallet you will now see 2 tabs — VRA and VRAB.

In the VRA tab of ‘My wallets’ you can access Main wallet, Staking wallet and Escrow wallet. The currency of these wallets is VRA.

In the VRAB tab of ‘My wallets’ you can access Main wallet. The currency of this wallet is VRAB.

Please note that initially there will be no top up, staking or escrowing of funds in VRAB currency. These functionalities will be released later, according to the schedule.

In order to convert VRA tokens in your Main wallet into VRAB tokens, navigate to the Main wallet in the VRA tab of ‘My wallets’ and click ‘Convert to VRAB’.

Please note that it’s not possible to convert your VRA stakes into VRAB as there is no staking offered in VRAB at this time. You can only convert VRA tokens in your Main wallet.

Therefore if you wish to convert your VRA stake into VRAB you will first need to unstake it
.
Enter the amount of VRA tokens you would like to convert to VRAB and click Convert.

The conversion is done on 1:1 basis (you will get 1 VRAB token for 1 VRA token) and DOESN’T incur a Verasity transaction fee.

Once conversion is done, the amount of VRA you entered above will be deducted from the balance of your Main VRA wallet and the corresponding amount of VRAB will be added to the balance of your Main VRAB wallet.

The corresponding amount of VRA tokens is burned.

Please note that conversion of VRA tokens to VRAB tokens is one way only. Once done, you will not be able to convert your VRAB tokens back to VRA tokens.

In order to withdraw VRAB tokens from your Main VRAB wallet, navigate to the Main wallet in the VRAB tab of ‘My wallets’ and click ‘Withdraw’.

Enter the receiving wallet address and the amount of VRAB tokens you would like to withdraw and click ‘Withdraw’.

Make sure that the wallet address you enter is a valid BEP2-compatible wallet address which is suitable for storage of Binance Chain tokens.

VRAB tokens withdrawn to an invalid wallet address or to a wallet address you don’t have access to will be lost.

VRAB Conversion Guide on Binance

We are excited to announce that Binance Exchange will now provide VRA to VRAB conversion prior to the Binance Dex listing. Just deposit the amount of VRA you want to convert into VRAB into your Binance Ethereum account and the VRA will be automatically transformed into VRAB on your Binance Verasity account.

Below is the step-by-step guide on how to convert VRA to VRAB on Binance Exchange.
1. In your web browser navigate to binance.com and click on ‘Log in or Register’ in the right top corner of the screen.

2. On the ‘Log in’ screen enter your Binance account credentials and click ‘Log in’.
If you don’t have a Binance account yet, click on ‘Not on Binance yet? Register’ underneath the ‘Log in’ button.

3. Once you are logged into your Binance account, navigate to the ‘Deposit’ screen by clicking on ‘Funds’ -> ‘Deposits’ in the main menu.

4. In the ‘Deposit’ screen, in the ‘Select coin/token to deposit’ drop-down scroll down to ‘ETH’ or type in ‘ETH’ and select it from the drop-down list.

5. In the ‘Deposit ETH’ screen copy your dedicated ‘ETH Deposit Address’.

6. Use your dedicated ‘ETH Deposit Address’ to send your VRA tokens from your VeraWallet, your personal wallet or your account on an exchange for conversion to VRAB on Binance.

For example, in your VeraWallet enter your dedicated ‘ETH Deposit Address’ into the ‘Enter wallet address’ field on the ‘Withdrawal’ screen. Then enter the amount of VRA you want to withdraw from your VeraWallet for conversion to VRAB on Binance, and click ‘Withdraw’.

7. Once you sent your VRA tokens for conversion into VRAB on Binance from your VeraWallet, your personal wallet or your account on an exchange, navigate to the ‘Balances’ screen by clicking on ‘Funds’ -> ‘Balances’ in the main menu.