Detailed Guide on How to Get RMRK Off an Exchange and Into Your Wallet

**Updated with migration guide for Karura and Bifrost

With $RMRK being the first token besides $KSM to cross from Statemine to Karura and Moonriver, many members of the community have been asking questions. This article is intended to address some of these questions and concerns as well as be a living document for further updates (see below). Most guides describe how to go from statemine to the respective wallet. I wanted to take another step back as many have tokens on an exchange such as KuCoin.

I'll start with brief FAQ and then provide a guide on how to get your tokens off a centralized exchange and onto statemine. From there I will provide the link to Moonbeam's guide on how to get them from Statemine to your wallet. For now these wallets will be Polkawallet (Karura) and Metamask (Moonriver). I am not currently employed nor do I represent RMRK, Moonriver or Karura at this time. I'm just trying to provide helpful information to the community. If you have any questions, concerns or corrections, please comment below.

Frequently Asked Questions

1. Will KuCoin (or other exchange) automatically migrate my tokens on the exchange from Statemine to another chain before the burn deadline in September 2021?

Short answer is yes, they will. However, there is no absolute confirmation from the platform at this time. Imagine a platform not migrating tokens and them being burned. They've already reimbursed millions following hacks, I am sure funds will be safe in the end. The better question is - do you want to keep your tokens on centralized exchange? I would not, but to each their own.

2. Can I return my tokens back to Statemine?

No, you cannot. Once the tokens are removed from Statemine, they are on the chain you have moved them to whether it be Karura or Moonriver. Further development of interoperability will likely make this issue moot in the future. But as of now, you can't. But also, why would you want to? Use cases for RMRK are beginning to explode and getting them on a parachain is where you'll be able to take advantage of this.

3. Which parachain should I move my tokens to?

This is completely up to you. Use cases for xcRMRK can be found here for Karura and here for Moonriver. I imagine more and more use cases will come with time, Bifrost is coming soon. Be patient and remember this is brand new technology being developed and implemented at lightning speed. The devs are definitely doing something.

Tutorial with Links

If you RMRK is on KuCoin (or other exchange) you need to do a few steps which should be familiar from using your preferred exchange often, but bear with me. I'll use Kucoin as an example

  1. Move all your RMRK from trading account to your main account on KuCoin

  2. Copy your Statemine account of choice preferably from the browser app. For more information on how to move assets in Statemine and use the polkadot.js wallet see this video. Jay's video will give context to understand the next questions so take 5 minutes to watch it!

  3. Now simply go back to KuCoin and paste your Statemine account of choice in the wallet address box. Make sure there is at least 0.005 KSM in the wallet you are going to send RMRK to

  4. Confirm transaction

  5. Go back to Statemine and wait for the transaction to finish...takes forever man. But quicker than banks!

  6. Select the account you sent the RMRK to

  7. Hover over "Network"

  8. Select "Assets" and note the RMRK.app is asset number 8

  9. Click "Balances"

  10. Select RMRK.app - the 8th one

  11. Once the transaction is completed you will see your RMRK here

Now your assets are yours in Statemine! What a common good.

They are no longer in the hands of the exchange. For the following tutorials remember, this is currently a one way transaction and your $RMRK will be on that exchange for the time being. Refer to FAQ above for further context.

For Moonriver: Follow the tutorial outlined by Moonbeam to get assets from Statemine to Moonriver.

  • Remember, when you move from Statemine to Metamask, make sure you have at least 0.05 MOVR in your wallet to be safe for transfer fees

For Karura: Follow their guide outlined here to migrate from Statemine to their parachain.

For Bifrost: Follow their guide outline near the end of this article. DeFi options on ZenLink included in article

The process seems daunting at first, but it's quite smooth once you have done it a few times. I hope everyone has found this to be helpful and leave comments for any questions or further concerns!

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Csaint02Post author

Polkadot Eco Enthusiast, follow for insights on connecting the DOTs, shitposts, and general shenanigans

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A streamlined beginner's guide for you to learn about everything Polkadot has to offer. From how-to guides, NFT... Show More