The BBS token withdrawal is officially implemented with multiple channels to withdraw BBS. While there are multiple options to withdraw BBS, each option has a different effect on the end result.

Currently there are 3 methods by which BBS can be withdrawn.

1. undefined
2. undefined
3. undefined

So what are the differences in each method ?

The question you have to ask yourself first is , What am I  planning to do with my BBS Tokens ? 

If you are interested in staking you must choose ETH Wallet option. If you want to sell BBS now or later for whatever reasons you have , choose either of the other two options. 

While withdrawing you are also choosing which chain your BBS will be transmitted to. Staking is only supported in the ETH Chain.

You can bridge from EOS Chain to ETH  Chain but it can be costly when you do it in the future. This first implementation is effectively free. So choose your option wisely. 

Let us now look at what happens when each option is selected in detail.

Withdrawing to Coinbase

This option is exclusively for selling BBS as the final token received in Coinbase is not BBS , but EOS Tokens. The swap takes place automatically and EOS is made available to the user. EOS and BBS are independent tokens.   The only way to get BBS tokens back is to swap again.

The memo is very important here as everyone will be sending to the same address and MEMO is like a key that identifies your funds from the transactions.

To know more about memo check the official Coinbase FAQ here :Destination Tag/memo FAQ

(https://help.coinbase.com/en/coinbase/trading-and-funding/sending-or-receiving-cryptocurrency/destination-tag-memo-faq)

Steps :

1. undefined
2. undefined
3. undefined
4. undefined

NOTE : EOS TOKEN WILL BE  DEPOSITED ON COINBASE ACCOUNT AND NOT BBS

Withdraw to ETH Wallet

This option is necessary  if you are planning to stake your BBS. BBS is an ERC - 20 token and the staking is done on ETH chain. As we all know Gas Fee is a “feature” of ETH chain and hence this withdrawal is subjected to Gas Fee.

With that factor this option is only recommended for withdrawal at least 800 BBS as 340 BBS will be used to cover Gas Fee.

The only thing needed for this withdrawal option is the ETH Wallet address. Popular ETH Wallet like MetaMask and so on are all supported for withdrawal.

NOTE :

1. undefined
2. undefined

Withdrawal to EOS Wallet

This option can be used to sell BBS via Binance ( by swapping to EOS ) or to hold BBS in EOS chain. It is also ideal for small transactions as the EOS transaction  fee is very low.

The first order of business is to set up an EOS wallet like Anchor. The detailed guide can be found here : Getting Started with Anchor Wallet

 ( https://forums.eoscommunity.org/t/getting-started-with-anchor-wallet/61 )

After the Anchor Wallet is set up , it looks like this.

You can see your address which you entered at the top. This is necessary to do transactions. In MetaMask the address is like 0x135r151g53 etc. But here it is readable and easy to remember.

Now go to your BBS Account and select token withdrawal and then select EOS Wallet. There will be two variables to fill. One is an address , which we now have, and a memo.

I was stuck here. I looked everywhere for the memo but never found it. I asked in METABBS and other forums. But finally I got the answer. A memo is not needed when we send to our own wallets. It is required when we send to an exchange or a contract etc as everyone sends to the same address so memo acts as an identifier as to whom this fund belongs to.

Here I am withdrawing 10 BBS to my EOS wallet and I took a memo as 0. 

You can see the transaction at https://bloks.io/ . You have to just search your address to see the transaction on EOS blockchain ( Just like Ether Scan ).

`

NOTE : Resources of EOS Wallet ( Anchor)

There are 3 resources. RAM , CPU and NET. In EOS we don’t pay gas fee because we are buying the resources beforehand and not paying someone who has it.

Buy RAM but in my opinion it is better to rent CPU and NET. They can’t be bought but only got by staking EOS. And when I researched I came across a forum post where an admin said it is better to rent than to stake as a lot of EOS needs to be staked to get a decent amount of CPU and NET.

You do not need CPU and NET in large quantities. It is cheap so make sure you do not rent more than needed as renting only lasts for 24 H. But RAM can be bought and held.

My opinion is to buy RAM for 0.5 EOS. Rent CPU and NET for a minimum amount and do not withdraw all EOS. Leave 1 or 2 in Anchor Wallet to pay for resources in the future.

You can also get FREE resources on a daily basis from the website eospowerup.io

eospowerup.io PowerUp Your EOS Account with free and automated resource management. Our service provides CPU, NET, RAM automatically or on-demand.

`

Optional : Swap and Withdraw to Binance

Swap BBS to EOS

With the BBS token in our wallet, we can now go to swap. Before that if you do not see the tokens in your wallet , check with bloks.io first. If the transaction is successful you have to import the tokens to see it in your wallet.

It is not strictly necessary as Defibox will detect the tokens automatically when trying to swap.

Import BBS to Anchor Wallet

Go To ,

Home  → Token  → Manage Token  → Add Custom Token 

Contract Account Name : bbsbbsbbseos

Symbol : BBS

Now you can see the BBS balance in Anchor.

To swap , go to : https://defibox.io/

Click on swap and select tokens as BBS  to EOS. Just click on swap to connect the wallet. Then the BBS wallet will become visible.

After selecting the appropriate amount , click on swap and sign. After that check in blocks.io to confirm your transaction. 

At first it will be in Pending state and then it will become Irreversible and you get the EOS in your Anchor Wallet.

`

Pay for Resources in EOS Wallet

This is an important step. This is a step which can be avoided and get BBS into Binance. But it can cause a lot of trouble if we run out of resources midway. Trust me , I know.

The first transaction is done with this free CPU. If you go to your resource tab now you might see this.

So with zero CPU no transaction can be done. We have to buy resources now with the EOS we got just now. It is cheap. So no worries.

`

Send EOS to Binance

To send EOS to Binance , go to Binance  wallet , Select the Deposit option and choose EOS. Select the EOS chain and note down the address and memo.

As I said we need a memo here as everyone sends to the same address. The memo is your identity and if it is wrong the EOS is lost. Be careful.

Enter the address and memo carefully and send. Leave some EOS in your wallet.  Check bloks.io for confirmation. After some time EOS will be available at your Binance account.

`

Sell EOS and Buy ETH / Withdraw

I don’t have to explain this one. Once EOS is in your wallet you can do whatever you want with it. Remember this is not  BBS token. It is EOS token.

You can use the same method to send to other exchanges too.

Hope this maybe of help to the community.

`

With love,

TheNewLegend