Getting started
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You cannot transfer your DAI directly from Palm to a cryptocurrency exchange (like Coinbase/Binance/Kraken) without using the DAI bridge. You need to use the DAI bridge on Palm to move your DAI to the Ethereum blockchain. If you send the funds to the exchange without using the bridge you will lose your funds. Find the bridge here.
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You can not transfer your DAI directly from Palm to a cryptocurrency exchange (like Coinbase/Binance/Kraken) without using the bridge.
DAI is a cryptocurrency pegged to the US Dollar, meaning that 1 DAI is approximately 1 USD, and is the most common token used to pay for NFTs and services on Palm.
If you do not see the DAI in your wallet, follow this link to see if your wallet is configured correctly.
Follow the steps below closely, or you risk losing your funds.
Step 1. Go To The Bridge
The first step in transferring funds to your bank account, is to go to the bridge that will bridge your funds from the Palm blockchain, to the Ethereum blockchain (also known as Mainnet), you can find the bridge here.
Step 2. Configure The Bridge
You will need to connect your MetaMask wallet to the page in order to use the bridge. Click on 'connect MetaMask' to connect your wallet.
Ensure that the 'Origin Network' is set to Palm, and the 'Destination Network' is set to Mainnet (also known as Ethereum). Then select the currency and the amount you wish to send.
Step 3. Use The Bridge
You can now use the bridge to transfer funds. You have two options where to transfer your funds:
3.1 Transfer funds to a cryptocurrency exchange.
You can now use the bridge to transfer your funds directly to an account on a cryptocurrency exchange (like Coinbase/Binance/Kraken) . It is important to note that exchanges have specific receiving addresses for each cryptocurrency, so you must make sure to select the correct currency you wish to receive on the exchange, and the exchange will give the correct address to bridge to.
At the time of writing, the cost for bridging funds is 151 DAI. The bridge typically takes around 1 hour. However, if the gas prices on Ethereum are much higher than normal, the transaction can take 24 hours or more.
If you are not yet registered with a cryptocurrency exchange, you may want to create an account in order to exchange your cryptocurrency and transfer your funds to a bank account. We recommend one of the following:
You can also use the bridge to transfer your funds to a wallet address on the Ethereum blockchain.
To do this, you need to follow steps 1 and 2 here in order to configure the bridge.
You can then use the bridge to transfer your funds to an address on the Ethereum blockchain. Enter the destination address on the Ethereum blockchain and proceed. Your wallet address on Ethereum can be the same address as your wallet address on Palm.
At the time of writing, the cost for bridging funds is 151 DAI. The bridge typically takes around 1 hour. However, if the gas prices on Ethereum are much higher than normal, the transaction can take 24 hours or more.
For more questions or help, please visit our Discord or submit a request on the top of this page.