

What are Cross-Chain Cryptocurrency Bridges in DeFi



We’ll be looking at precisely what a bridge is used for in DeFi, before diving into several examples. Read on for how to bridge Ethereum and Binance Smart Chain assets.
Bridging Your Assets
A blockchain bridge forms a link that allows tokens and/or arbitrary data to travel from one chain to another.
Though different chains may have distinct protocols, rules, and governance models, a bridge will nevertheless allow seamless interoperations. In utilizing a bridge, users have the opportunity to:
- Position digital assets hosted on one blockchain to dapps on another
- Oversee fast, low-cost transactions of tokens hosted on otherwise less scalable chains
- Execute dapps across more than one platform, allowing for a more effective user experience
Bridge designs can vary but are often classified into two categories: decentralized trustless bridges and more traditional centralized bridges that rely on trust.
Popular Bridges for ETH, BSC, and More
Take Poly Bridge, for example, the steps you would take to bridge your digital assets are fairly succinct and clear.

After clicking here you will arrive at Poly Bridge, the site
- In the top right corner, you will find ‘Select Asset,’ within which you will be required to select your chosen token in the pop-up window.
- You will then be asked to ‘Select Network.’ With Poly Bridge supporting BSC Network, Ethereum Network, and others, you’ll have plenty of options.
- Finally, you will be asked to ‘Connect Wallet,’ after which you will select the token and amount you wish to bridge.
And as far as Poly Bridge is concerned, it really is that simple.
As far as your use of ChainSwap goes, the difference in the steps you take is fairly minimal.

- You can click here to visit ChainSwap.
- At this point, you will have to connect your wallet as the first step.
- You will then be prompted to select from which network and to which network you wish to bridge your assets before finally stipulating the token and amount you wish to bridge.
Simple enough, right?
Here’s another example for good measure, in Anyswap. The most popular and effective means of bridging assets on Anyswap has proven to be the Anyswap v2 Bridge.

Refer to the numbers on the image above
- 1&2: After selecting the bridge, be sure to check the limits and fees, so you underline the fact it is free to send most of your tokens to your chosen network.
- 3: After you have chosen and selected your approved tokens, you will be required to give the go-ahead via your wallet, and after a brief moment, you can then click swap and voilà.
Anyswap allows you to track the status of your transaction via a pop-up link after you have initiated the swap.
pNetwork is distinct in that it allows you to move both token assets as well as NFTs you may be hoping to move, as you can see on the arrows below.

Again, as you can see from the image above, the steps are fairly simple. The steps you are required to take for pNetwork mimic those above for Poly Bridge; you complete your chosen route for the bridge before finally connecting your wallet and initiating the transaction.
A final bridge that is certainly worth mentioning and has enjoyed soaring popularity of late is that of cBridge. As depicted in the image below, your route will once more be fairly simplistic and, depending on the tokens you wish to transfer, should take you no time at all.

As was the case with your instructions regarding ChainSwap, you will be asked to connect your wallet first before designating your chosen route and approving the transfer you wish to initiate.
Final Notes on DeFi Bridges
You should always ensure that the token you are looking to transfer has ample liquidity in the DEX on the network you are transferring to. A lack of liquidity will likely hamper your route and make the movement near impossible.
Another important point to consider is that the bridges mentioned above have at some point endured exploits and hacks throughout their operational experience. The management of the demanding situations by their respective teams means that they remain functional and regularly used, but this, of course, underlines the fact that you must nevertheless conduct your own due diligence before conducting your chosen transaction.
Here at BSC News we are always trying to identify ways in which your crypto experience can be improved and made easier. This piece has overlooked the myriad possibilities regarding bridging assets, but we will be looking for other ways to help you on your crypto journey.
Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto!
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Digital Asset Infrastructure Provider Taurus Partners with Polygon: Revolutionizing Decentralized Finance?

This partnership aims to enhance Taurus' capabilities by incorporating staking and decentralized finance (DeFi) support into its offerings.
Taurus Embrace Polygon Blockchain
Taurus, a leading provider of digital asset infrastructure backed by Credit Suisse and Deutsche Bank, has partnered with Polygon to provide staking and decentralized finance (DeFi) support to its capabilities.
Enabling banks and brands to issue and custody any tokenized asset using @0xpolygon@taurus_hq, the European digital asset infrastructure leader is now fully integrated and automated #onPolygon 😎
— Polygon (Labs) (@0xPolygonLabs) June 2, 2023
More: https://t.co/U2tT0azjkG pic.twitter.com/urFCzXN8eg
Taurus offers a range of services, including custody, tokenization, and trading of digital assets. Taurus recently secured $65 million in funding through a round led by Credit Suisse and Deutsche Bank in February, highlighting the growing interest from traditional financial institutions in blockchain technology and tokenization.
Tokenization, the process of representing an asset as tradable units in a digital format, is increasingly drawing the attention of mainstream financial institutions.
Taurus emphasized that most Tier 1 financial institutions are entering the tokenization space and seeking a blockchain-agnostic and token-agnostic infrastructure. Additionally, Bank of America published a report last April stating that the tokenized gold market had surpassed $1 billion the previous month.
Polygon aims to evolve into an "internet of blockchains," connecting various Ethereum-compatible networks while continuing to enhance transaction efficiency and speed.
As blockchain technology adoption accelerates, collaborations between established major institutions and Polygon continues. In addition to the recent collaboration Polygon has also partnered with Franklin Templeton, Google Cloud, and Deutsche Telekom in recent months.
Polygon ($MATIC) is trading at $0.9, up 0.4% in 24 hours, according to CoinMarketCap.
What is Polygon:
Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.
For more about Polygon:
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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