When convert tokens on the Bancor Network, you will eventually trigger a set of transactions to convert your "fromToken" to any "toToken" you wish in the network.
When converting into ETH, the "incoming" transfer to your account will appear under the "token transfer" section.
Example:
Account: 0x3525c4124b6C2132F93dfb9515D37e2fE84da54C
Step #1: Fund the account
I've transfered 0.01 ETH into the account. This will record an "in" transfer:
Step #2: Convert to ERC20 Token
Using Bancor, I will convert 0.001 ETH to receive an amount of an ERC20 token:
- Convert ETH - This will record an "out" transfer
- NEW TAB - Token Transfers - Here you will see all transfers of non ETH tokens. Receive BAX tokens - This will record an "in" transfer:
Step #3 - Convert Back to ETH
Now I will convert my BAX (ERC20) tokens back to ETH
- Transactions tab - 2 new "out" transaction
- 1st transaction - "Approve" transaction to allow the Bancor Converter to access my BAX balance and use it for the conversion.
- 2nd transaction - "Convert" transaction from BAX to ETH. Here you will only see the Gas Price used for the transaction and there is no "Value".
- Token Transfers Tab - 1 new "out" transaction.
This indicates that the BAX tokens have been transferred out of my wallet as part of the "Convert" action.
- NEW TAB - Internal Transactions - here you will find all your "in" transfers of ETH as a result of a "Conversion" transaction. The row in the image below indicates the transfer of ETH from the Bancor Converter to my wallet address.
When checking your wallet balance at this stage, you can see that the ETH from the "Conversion" transaction was added successfully to my balance.
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Last transaction for the account is a transfer out of all remaining ETH thereby cleaning the balance of the wallet.
