Step-by-Step How to Cash Out SLP and AXS from Axie Infinity Ronin to Binance

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In the Philippines, most Axie scholars are introduced to Binance by content creators through their Youtube videos and by the recommendations of their managers. Before Ronin Wallet was available on Google Playstore, most scholars have learned how to cash out their Smooth Love Potion (SLP) earnings via Metamask Wallet and then, to Binance which needs additional funds for the enormous gas fees for each transaction. This process works smoothly on a laptop or desktop computer but not everyone has access to it. Some only rely on their Android smartphones.

Thanks to the updates that Axie Infinity and Binance have made that allow Axie users to directly transfer their SLP from their Ronin Wallet to their Binance account with lesser to no fees at all.

This procedure of transferring SLP has two methods: via computer and via smartphone.

CLAIMING SLP

Login to your Axie Account. Select “Account” then Click on “Claim Token”. A pop-up message will appear to inform you if you can claim or not your SLP or Smooth Love Potion earned for the last 14 days.

TRANSFERRING SLP USING YOUR COMPUTER

For First Time Ronin Wallet Users

If this is your first time downloading a Ronin wallet on your computer, please refer to https://welcome.skymavis.com/create-wallet/. Use the link for extension for the browser you are using like Brave/Chrome and follow the instructions. Write down your seed phrase, a chronological arranged 12-word password, on a piece of paper and do not share it online. But for those who already have their seed phrase, import your account, instead of creating a new one.

After Claiming SLP from Axie Website

After claiming SLP from the Axie website, the total amount of SLP will reflect on the Ronin wallet.

Before you send your SLP to Binance, access your Binance account first to get the right address you need to send your SLP to.

Login to your Binance account. Then, go to “Fiat and Spot” Click on Deposit.

On Crypto Deposit, click on the box under Coin. 

A pop-up window will appear and type the word SLP. Click “SLP”.

Afterwards, the pop-up windows will close. Click on the box below “Network” and another pop-up window will appear. This time, select ”RON Ronin”.

An alert message will appear as “If you are transferring your asset from your Ronin Wallet, please replace the address prefix from ‘0x’ to ‘ronin:’” just click “OK”.

A Ronin address will appear on the site. Copy the address provided.

Return to your Ronin Wallet (log in if needed) and then click “Send”

On the next screen, paste your Binance address under “To”, select SLP under “Asset” and enter the desired amount you wanted to transfer. You have the option to click Max to send all SLP. Click “Next” when done.

Confirm the transaction on the next screen and wait for SLP to be deposited to your Binance.

On Binance

After Binance notifies you of the deposit, proceed to “Wallet”, which can be found at the top portion of the page, then click “Fiat and Spot”. 

Across your SLP, you will find “Convert”. Use “Convert” if you want to convert your SLP to other cryptocurrency like USDT and XRP. XRP is often used to transfer your funds to Coins.ph to lessen the fees. USDT can be used for Peer to Peer (P2P) transactions and/or if you intend to hold on to the same or near the current value of your SLP to avoid any loss in its value when the market goes down.

But if you want to sell your SLP directly to P2P, click “Transfer” found on top of the page.

Transfer your SLP from Spot to “Funding” as seen below. Confirm when finished.

You can now sell your SLP on P2P and get paid either through Gcash or to your desired Bank account. To go to P2P, toggle over “Trade” found on top of the site, then click “P2P”.

To sell your SLP or USDT in P2P, select “Sell”, then select the cryptocurrency you are using. Enter the amount in Peso (PHP). The top merchant has the lowest rate. Verify first if the merchant has a better trade success rate than other merchants. Proceed with your transaction.

Enjoy your earning!

TRANSFERRING SLP USING YOUR SMARTPHONE

DISCLAIMER: Use this method if there is no computer available. Doing transactions on the computer is more secure than on your mobile phones. 

For First Time Ronin Wallet Users

If this is your first time downloading a Ronin wallet on your mobile phone, please refer to https://welcome.skymavis.com/create-wallet/. Use the link for “Mobile App”, and follow the instructions. Write down your seed phrase, a chronological arranged 12-word password, on a piece of paper and do not share it online. But for those who already have their seed phrase, import your account, instead of creating a new one.

Log in to your Ronin wallet once the app has been installed. Then, log in to your Ronin account on the Axie website (marketplace.axieinfinity.com/login/). It will direct you to your Ronin wallet to confirm two (2) pending requests. After confirming the two (2) prompts on your Ronin wallet, you can return to your browser.

You can now claim your SLP on your phone and pending requests from your Ronin wallet will reappear to confirm the transaction.

Before you send your SLP to Binance, log in to your Binance account to get the SLP address.

Look for “Deposit” on the main page of Binance.

Search for SLP or Smooth Love Potion and then click on it.

Click on Ronin as your network and then an important message will appear. Close it and copy your Binance address.

Return to your Ronin wallet, and click “Transfer”.

Paste your Binance address on the box below “To”. Select “SLP” under Asset. Then, enter the amount you want to transfer to Binance and click “Next”.

On the next screen, click “Confirm” and wait for your SLP to be deposited to your Binance account.

On Binance

Log in to your Binance account then, go to “Wallet” (found at the bottom part of the app) and verify if the SLP has been deposited. If deposited, you can convert your SLP to other cryptocurrencies like USDT and XRP by going to “Trade” and then select “Convert”. But if you prefer to use SLP, there is no need to convert. 

To process the Peer to Peer (P2P) transaction. Click “Transfer”.

Select SLP as your currency and enter the amount you want to transfer to “Funding”. When you are done, click “ Confirm transfer”.

Go back to the main page and look for “Trade” at the bottom of the app.

Select “P2P” and then click on “Sell” and choose the appropriate currency. You can now transact with the merchant who can process your request. 

Tip: You can filter the merchant using the funnel-like shape icon on the upper right of the screen.

Enjoy your earning!

TRANSFERRING SLP/AXS BACK TO RONIN

From your Binance account, you can withdraw your SLP and deposit it on your Ronin Wallet. Use the Ronin network and prepare an allowance for the 1 SLP fee (or 0.005 AXS if in the form of AXS token) and send it to your ronin address. If an error occurs, replace “ronin:” with “0x.”

This article is published on BitPinas: Step-by-Step How to Cash Out SLP/AXS from Axie Infinity Ronin to Binance

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Clyde

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Julian Barcega

Julian Barcega is a missionary by vocation and freelance writer. He got into crypto because of Axie Infinity and now exploring the vast metaverse. He is also a live streamer on his Facebook page, Julian Barcega, and blogger on Peakd. You can contact him on Twitter and Facebook if you have any questions.