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Users can deposit on Binance, for example, various ERC20 tokens, but later then those tokens should be transferred to the Binance cold wallet(wallet used for withdrawing) how those tokens are transferred when the newly generated address doesn't contain any ether(for transferring contracts), it doesn't make any sense for me that Binance sends some ether for every newly generated address.

DedaDev
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1 Answers1

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it doesn't make any sense for me that Binance sends some ether for every newly generated address.

That's exactly what they do. If you do happen to deposit ether, they will leave a little bit ~$5 or so in the address when moving the ether to their cold wallet to pay for future token transactions. If you transfer only tokens, they will transfer some ETH before moving it.

Raghav Sood
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  • 0xf9b07ddfd7bf56789678427fad27b086da56ac64 This is my address on Binance where I deposited some OmiseGo tokens, and on etherscan, I can only see my deposit, nothing else. Is there for sure no other way of transfering ERC20 tokens without spending ether from same account? https://etherscan.io/token/0xd26114cd6ee289accf82350c8d8487fedb8a0c07?a=0xf9b07ddfd7bf56789678427fad27b086da56ac64 – DedaDev Sep 21 '18 at 07:22
  • As you can see, the tokens are still in the deposit address. Binance has not moved them yet. If they decide to do so, they will transfer eth first. However, for a few dollars of OMG, it's likely not worth it, so they will just let it stay there until whatever internal calculation they use to determine if it is cost effective to sweep the tokens tells them to move it. – Raghav Sood Sep 21 '18 at 07:24