Bridging IQ to ETH with Binance
The easiest way to bridge IQ from EOS to ETH and vice versa is through Binance, the world's largest crypto exchange, since it supports withdrawals and deposits on both EOS and ETH.
Please note, the minimum withdrawal amount on Binance is 6320 IQ and there is a withdrawal fee of 50 ~ 3160 IQ to cover the network fee (as of Jan. 2022 the Binance fees may change).
In this guide, we will demonstrate how to swap your IQ from EOS to Ethereum (ERC20) with the help of Binance. In order to do it, you need to have a registered account on Binance. Here's Binance's guide on how to sign up for a Binance account.
When you have your account set up, press "Wallet" and then "Overview" on the Binance homepage.
If you already have some IQ on EOS on an exchange like (Upbit, Bittrex, or OKEx) or in an EOS wallet go to "Deposit" and then choose "Crypto Deposit".
At this point, you will arrive at the following page:
Choose IQ in the "Select coin" section and EOS network as "Deposit to".
Remember, that both ADDRESS and MEMO are required to successfully deposit your IQ to Binance, otherwise you will lose your money.
At the next step, you will see the Binance address and the memo you need to use sending tokens from your EOS wallet.
Here's how the above information would be applied if you use Anchor wallet:
In several minutes after you submit the transaction in your EOS wallet, you will be able to see a pending notification on Binance.
As soon as you receive your deposit, go to "Wallet", then "Overview", then press "Withdraw".
Select IQ coin, your ETH wallet address, network (should obligatory be Ethereum), and the withdrawal amount.
Leftside from the "Withdraw" button, you will see the "Receive amount" and network fee calculated.
Press "Withdraw" and submit the transaction. Go through a security verification.
At this point, you will get this pop up message:
You will now be able to see your ERC20 IQ tokens on your ETH wallet.