and clean up your wallet!!
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I was trying to find a way to get rid of some NFT tokens that I had been accumulating through drips made through DripDropz without losing their associated $ADA value. It’s not that the value was much but honestly, I’ve never been a man to waste money.
After some research, I realized that the reason why NFTs on the Cardano network need to block $ADA value, is because for each new UTXO you create, it needs to have some value to prevent malicious growth of the UTXO set. Whatever that means in concrete, I can immediatly say that it has to do with security issues, and being Cardano a peer researched network, I trust that this is indeed a must have to prevent DDoS attacks.
So far so good. Now, how do I recover the NFT associated $ADA?
- Make sure you really don’t want the tokens or NFTs.
How to send tokens from a native wallet to your Binance wallet.
After creating your Binance account, look for the option “Fiat and Spot” under wallet and click on it.
Spot account is used for placing orders. All coins which you buy and sell go to your Spot account.
On the next page you will find a variety of cryptocurrencies, look for the one you want for this case which is $ADA and click on the link which says “deposit”.
In the next window you will be asked to choose the network from which you will transfer your NFTs. Considering that so far few exchanges are compatible with cNFT’s, it is assumed that you will send your tokens from a native Cardano wallet such as Yoroi, Nami, among others. Select the “Cardano” network.