Depositing Funds into your Solana Wallet
There are a few ways to fund your Solana Wallet. Here are the most common:
- Send SOL from an exchange like Coinbase, Binance, FTX, et. to the SOL wallet address found at the top of your wallet
- Use Moonpay to directly transfer money from your debit or credit card to your SOL wallet address
- Bridge funds from different blockchain
In this tutorial, we will review how to bridge funds from different blockchain.
To send funds to your Solana wallet copy your address. Make sure you are sending either native SOL or another SPL token.
Note: Whenever connecting your wallet to a website, ALWAYS double check the website address.
First, select your blockchain of origin from the dropdown list.
Next, select the your destination blockchain.
Select the asset you would like to bridge by clicking the ‘select a token’ dropdown list.
Enter the token amount.
Connect your Solana wallet (in this case it is a Phantom wallet).
You will notice that Portal prompts you to ‘create [an] associated token account.’
Click the ‘create associated token account’ button and confirm the transaction in your wallet.
Proceed by clicking ‘Next.’
Approve the token transfer in your wallet and then click transfer. Leave 'Approve Unlimited Tokens' unchecked. Note that you will receive a wrapped version of the transfer asset on Solana which we will later swap for the desired token.
Click ‘confirm.’ Refer to the Portal documentation to find which wrapped asset you will receive and where to swap the asset. Documentation
Wait for the bridge to be completed (this step will take different amounts of time depending on what blockchain you are bridging from).
Success!
After the bridge has been completed, head over to Jupiter Swap to swap the bridged tokens for USDC (or any other token).
Select the bridged token from the dropdown menu. Jupiter should automatically recognize which tokens you hold in your wallet. In this example, because USDC was bridged, you can see the wrapped version of the token appears at the top of the list.
Select the amount and click the ‘Swap’ button. Approve the transaction in your wallet and you are ready to deposit money on cypher!
Last modified 1yr ago