The Switch Bridge is now live to the Ethereum Network meaning you can now transfer your digital rewards from the Switch blockchain to the Ethereum blockchain.
Why bridge? Well, the Switch Blockchain is a Layer 2 blockchain piggy backing off of Ethereum’s Layer 1 blockchain. So currently these digital rewards you’ve been earning are on the Layer 2. They’ll have utility there in the future within Switch but by bridging them to Ethereum’s Layer 1 increase their utility.
When you bridge your digital rewards to the Ethereum blockchain your digital rewards SWITCH tokens now become SWITCH ERC-20 tokens giving them allowing for transfers from a Layer 1 wallet to another Layer 1 wallet or the ability for potential trading on decentralized exchanges.
Let me show you how to bridge. First, you’ll start by logging into our New Core interface at app.switchblackcard.com/login – this is our Beta website, and you’ll use the same login information from www.switchrewardcard.com if that is where you set up your account.
In your Switch dashboard go into your assets and in your Rewards wallet – which is a non-custodial wallet – select the Switch Native -this is the switch Layer 2 blockchain. We want to move this to a Switch ERC-20 which is on Ethereum Layer 1 blockchain.
Now select “Bridge” and then in this popup select the amount you want to transfer. There is a Bridge Fee so the amount that you select must be higher than the fee – which currently costs 1000 SWITCH.
Once you submit, you are taken to a page to review the details. Here you’ll need to accept the Terms and input your Trading Passcode from when you set up your wallet. This is not suggested to be the same as your login password.
Once you select transfer, they’ll immediately deduct from your wallet. This transfer may take up to 24 hours for the SWITCH to appear in your Switch (Ethereum Network) wallet.
Now you can see the balance of the SWITCH ERC-20 that you’ve bridged in the SWITCH Ethereum or SWITCH ERC-20 wallet. Now you have the ability to send SWITCH ERC-20 from your Switch Rewards Wallet to other Layer 1 wallets. Please note that when doing so have some ETH in your Switch Rewards Wallet to cover any applicable gas fees.
Here is the Token Tracker link on Etherscan so that you can track the status of your transaction: