How do I send or exchange an asset that runs on another network?

Many of the tokens in Exodus run on another network, and so they require a secondary asset to pay for transaction fees, or gas.

ERC20 tokens like Aragon (ANT), Golem (GNT), Civic (CVC), 0x (ZRX), etc., run on the Ethereum blockchain, and so they require Ethereum (ETH) to pay for gas.

BEP20 tokens like Pancake (CAKE) run on the Binance Smart Chain, and so they require Binance Smart Chain Binance Coin (BNBBSC) to pay for gas.

In this Article:


Why do I pay for my token's transactions with another asset?

Many tokens in your Exodus wallet require another asset to pay for transaction fees, also known as gas.

This is because these tokens are created and hosted on another network (or blockchain).

You can think of the network as the road, and the tokens as cars on the road.

Using Ethereum as an example, the Ethereum network is the road, ERC20 tokens are the cars, and Ethereum (ETH) is both a car, and the only type of gas all the other cars run on.

BEP20 tokens run on the Binance Smart Chain, so Binance Smart Chain Binance Coin (BNBBSC) is the only type of gas BEP20 tokens can use to pay for transactions.


How can I tell which network my token uses?

Some tokens, like Tether (USDT), can run on multiple networks.

For these tokens, in the desktop wallet, the network will show below the asset's logo.

Desktop:

Mobile:

In the mobile wallet, the network will show as a badge beside the asset.


Paying for ERC20 token transactions with Ethereum

All ERC20 transactions require Ethereum (ETH) to power transactions on the Ethereum network. This is known as gas. To send or exchange an ERC20 token, or use an ERC20 token such as DAI in Compound Finance, you need a minimum amount of ETH in your Exodus wallet. This is to cover Ethereum network transaction fees.

For example, instead of paying Bitcoin (BTC) for transaction fees in BTC transactions, you pay small amounts of Ethereum for transaction fees for Ethereum or ERC20 transactions.

If you don’t have the minimum amount of ETH for ERC20 token transactions, you will encounter these messages:

Mobile:

Desktop:

You can acquire ETH by using our in-app exchange feature to exchange from any (non-Ethereum based) assets in your wallet for ETH, or by receiving ETH from another wallet.

Since Ethereum-based assets run on Ethereum’s blockchain, transaction fees are paid in ETH and not in the assets themselves. This applies to all ERC20 tokens (e.g. Tether USD (USDT), Shiba Inu (SHIB), etc.).

In the screenshot above, we’re trying to send some DAI. You can see that the Dai Network Fee is paid for in ETH.

During periods of high congestion, network fees increase as miners prioritize the more expensive transactions first.


Sending a token that runs on another network

The process for sending an asset on another network is the same as sending other blockchain assets:

1
Click on the asset's  Wallet.
2
Choose the asset you want to send.
3
Click the Send button.
4
Enter the amount in the asset or in your local currency, such as USD, EUR, etc.
5
Enter the amount you would like to send and click the Send button.

Please note: You will need some ETH to pay for the network fee to send a ERC20 token, BNB to pay for the network fee to send a BEP20 token, and MATIC to pay for the network fee to send a Matic token.

6
Exodus will show you a confirmation screen with the amount, value in your local currency, and address. Once you’ve confirmed all the details, hit Send!

A note for advanced Ethereum users:

Fees for sending Ethereum or Ethereum assets increase if you send them to a smart contract address.

The fees are higher to give the smart contract enough gas to process the transaction and execute the contract’s programming. Sending a transaction with a sub-optimal fee to a smart contract could cause a failed transaction, so Exodus automatically adjusts the fee for you when sending assets to a smart contract.


Exchanging a token that runs on another network

The process for exchanging these assets for other crypto is the same as the standard in-app Exodus exchange process:

1
Click Exchange.
2
Select the assets that you want to exchange in our third-party exchange API provider. You can select the assets using the dropdown menus or by searching for the asset names.

Please note: You will need some ETH to pay for the network fee to send a ERC20 token, BNB to pay for the network fee to send a BEP20 token, and MATIC to pay for the network fee to send a Matic token.

3
Enter the amount you wish to exchange by clicking ALL, HALF, or MIN. Alternatively, you can enter the amounts in the assets themselves or in your local currency.
4
Click Exchange! Note that you have a 3-second window to cancel the exchange before the funds leave your wallet.
5
Once you’ve clicked Exchange, you’re good to go! You will receive the asset you exchanged from our third-party exchange API provider soon.

Also, you may have noticed when receiving Ethereum-based assets that all your Ethereum-based assets have the same address. Not to worry! This address is your Ethereum address and used because, as mentioned, Ethereum-based assets use the Ethereum blockchain and not their own blockchain with unique addresses.


How to enable custom network fees for ERC20 tokens


ERC20 assets can also be set to use a custom fee. This gives you more control over the ETH fee you pay to send your ERC20 assets.

Something important to keep in mind is- too low of a transaction fee can result in funds becoming stuck on the network. Miners tend to prioritize the more expensive transaction fees first, so in sending your funds it's important to use a fee that will position the transaction to be processed in a timely manner.