;
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
How to connect MetaMask to Binance Smart Chain?
What is MetaMask
MetaMask is a Ethereum based hot wallet which is a bridge between the Ethereum blockchain and your web browser. Metamask gives you opportunity to store many digital assets without third party custodian, putting the ownership of your private keys and ultimately your assets in your control. Metamask must be accessed via a web browser extension or mobile application.
Whilst Metamask is an Ethereum based hot wallet allowing you to transact with ERC20 (Ethereum Network) tokens, technological advancements allow you to integrate popular custom networks such as Solana, Polygon (Matic) and Binance Smart Chain (BEP20) into your Metamask.
This article will explain how to use the Metamask extension to add Binance Smart Chain (BEP20) so that you can participate in Token offerings, DeFi services (Decentralised Finance) and safely store NFT’s privately within your wallet.
Installing and setting up MetaMask
MetaMask can be downloaded on Chrome, Firefox, Edge and Brave Browser, or on iOS and Android if you’re a mobile user. The preferred browser and for the purposes of this tutorial, we’ll use the Brave version (Brave browser, is our browser of choice due to privacy advancements and the ability to earn BAT rewards whilst going about your daily online activities), but the instructions will be very similar for every platform.
Once you have decided which browser you want to use, head over to the MetaMask Download page. From there, select your chosen browser, and follow the steps to install it on your device. When prompted you will need to accept the pop up which suggests ‘add extension’(once full installation is completed, this extension will appear as a plug-in at the top right hand corner of your browser).
Next, continue with the setup specified by the app. Once you click ‘Create a wallet’, you will need to choose a password and then confirm this password. Next, you will be prompted to secure your wallet with a 12 word backup seed phrase, this is your “master key” write down the backup seed phrase somewhere safe and secret (preferably not on an Internet-connected device). Without this phrase, your assets will be lost if you forget your password or your device is damaged or lost. Confirm that you’ve written them down on the next page.
You will see a short video at this stage which explains in further detail.
Bingo! You should now see your newly created wallet, ready to send and receive numerous assets.
MetaMask Configuration
As mentioned previously, MetaMask was initially created to interact with the Ethereum blockchain. You will see straight away that your wallet is connected to the Ethereum Mainnet and therefore this is only compatible with ERC20 tokens/assets. At best, this won’t interact with tokens/assets from any other network. At worst, you could lose tokens/assets by sending them to addresses that are not compatible with that specific network.
This is the stage where you want to add additional networks and to do this you will need to access the Settings by clicking on the avatar in the top right-hand corner.
Select Settings from the dropdown menu.
On the Settings page, you want to locate the Networks menu.
How to add custom networks, in this instance Binance Smart Chain?
You need to click Add a Network in the top-right corner to manually add Binance Smart Chain.
You will then be asked to complete the fundamental requirements for this to be added successful, please use the information below to complete this section.
- Network Name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- Chain ID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
After you have Saved the Network and returned to the main view, you’ll notice two things, the network has automatically been set to Binance Smart Chain (Top right-hand corner), and the units are no longer denominated in ETH, but in BNB.
Importing The Contract Address For The Asset Of Your Choice Before Transacting
Within the custom network which you have just added, you will see that you have ‘assets’ and ‘activity’, the latter is self-explanatory but assets is where you can add all of your tokens of choice. This may be so that you can add a token contract address for the latest ‘Initial Dex Offering’ (IDO) or to store compatible NFT’s which you have purchased.
Either way, contract addresses which you will probably want add to your list of assets are familiar tokens which will allow you to transact freely via the Decentralised Exchange’s (DEX’s) of your choice, in the case of Binance Smart Chain this is most likely to be the most popular DEX, PancakeSwap.
In your assets tab and underneath where BNB is listed, you will see ‘import tokens’, you will need to click this in order to add further assets to your MetaMask.
Popular Tokens you may initially wish to add and the correct contract addresses for each of these:-
BUSD
Token Symbol – BUSD
Token Contract Address – 0xe9e7cea3dedca5984780bafc599bd69add087d56
Token Decimal – 18
USDT
Token Symbol – USDT
Token Contract – 0x55d398326f99059fF775485246999027B3197955
Token Decimal – 18
The internet is full of false contract addresses so it’s always important to make sure you are integrating the right one before transferring any funds, additionally I would suggest you always send a small amount to start with, anything in the region of value from $10 – $20 would be advisable.
In order to transact with sending or converting assets within your MetaMask on Binance Smart Chain, you will need to hold a small amount of BNB within your wallet to cover the network gas fees, this will only need to be minimal as BEP20 is very cost effective.
How To Fund Your New Wallet
Now that you have your MetaMask wallet in a position to transact you can receive funds/tokens to this new private address within your wallet. To do this you will need to send (withdraw) the token of choice from the current exchange it is being held, at which time you will be asked to insert a withdrawal address. This address is the one which is positioned underneath ‘Account 1’ (This can be renamed) on your MetaMask. This address is the same address that you would share with any third parties that were sending tokens to you.
When transferring/withdrawing/depositing, I would suggest that you always copy the address rather than trying to manually enter, this eliminates the possibility of making a mistake by missing/entering a wrong character by accident.
Our newly-funded wallet
From here, you would be in a position to send funds/tokens to friends, family or alternative wallets, you will also be able to transact in early DEX offerings, although you may need to increase the balance a little.
Closing thoughts
MetaMask has long been the go-to bridge for accessing the revolutionary Ethereum landscape. But, with minimal effort, anyone can configure it to point towards Binance Smart Chain or many other chains. This allows you to enjoy the years of development put into making MetaMask the perfect tool for anyone interacting with decentralized applications.
When you get to the stage of using DEX’s please be aware that each DEX functions on a particular network and they require different contract addresses and tokens to cover the gas fees.
We have only covered the Binance Smart Chain today and the most familiar DEX for this to be used alongside is PancakeSwap.
You may have also heard of Uniswap, this DEX facilitates ERC20 tokens and you will be required to hold ETH within the Ethereum network on your MetaMask wallet before partaking in any activity. Many people make the mistake of assuming that the balance in either these networks is compatible with each other, that is not the case and if you send BEP20 tokens to the Ethereum network then there is a very good chance these will be lost.
Ethereum Network DEX – Uniswap
Whilst we have covered integration of Binance Smart Chain (BEP20), there are many other networks which can be integrated into your MetaMask wallet, these will be covered in further Zero Gravity tutorials, alongside how to plug these into DEX’s and Web3 dashboards.
Warning – Until you are comfortable please be cautious of sending large amounts before you have first tested with smaller transactions.
“Every day is a new lesson, and with every lesson you can improve on what you knew only yesterday” Gavin Berry, Zero Gravity
Thank you for reading this tutorial, please be sure to subscribe to the Zero Gravity website for many more tutorials and exciting opportunities.
Click the link below and sign up to Crypto.com where you can receive up to $25 in their fundamental token CRO!
News
Crypto Market Analysis and Updates | March 19-21March 21, 2022 - 11:21 am
Crypto Market Analysis and Updates | March 15-18March 18, 2022 - 2:48 pm
Most (Less) Common Crypto Novice MistakesMarch 17, 2022 - 2:58 pm
Top Crypto Market Updates | March 12-14March 14, 2022 - 12:17 pm
Top Crypto Market Updates | March 08-10March 11, 2022 - 10:52 am
Commercial banks will be crushed within 4 years & everyone will be paid directly from the government to controlled open-source ledgers. Within a further 3 years these payments will also come with permissions & restrictions based on your behaviour. There is a way out…. #BTC
A whale transferred 15,400 $ETH ($25.4M) to #Binance 30 mins ago.
The whale bought 8,599 $ETH with 11.48M $USDC and received 7,150 $ETH ($9.01M) from #Binance in December 2022.
The average buying cost is $1,305, and selling $ETH at today's price could make a profit of $4M!
Facts, let the charts tell you the story
When the 'news' comes out then it is very likely you've already seen more than 50% of the total move borne from that information
Double top in play, the next few days will pave the way… #Btc #Cryptotrading #Cryptocurrency #WicksareTricks
Retest of $15,800 then back up towards $24k, possibly $37k, taking total MarketCap back to the $1.7tn resistance.
We hope your buy orders are set.
#btc #eth #CryptoNews #cryptotrading
S&P 500 Q4 GAAP earnings are down 13% year-over-year, the 3rd consecutive quarter of negative YoY growth (note: combination of actual and estimates w/ 13% of companies reported thus far). $SPX
The Fed's balance sheet is now 5.3% below its April 2022 peak. The 2 largest drawdowns over the last 20 years?
1) Dec '08 - Feb '09: -18.2% (balance sheet hit new high in Jan '10).
2) Jan '15 - Aug '19: -16.7% (balance sheet hit a new high in Mar '20).
We have broke so many resistances in the past 10 days, it will now be interesting to see which of these act as a support
#btc #Bitcoin #Crypto
One way to fix the problem at FTX is to pretend it never happened. https://trib.al/aydYIeY via @opinion
Our Telegram members know we always refer to the importance of security.
Taking this into consideration, we have written an article, helping you learn more about the importance of browser extension & non-custodial hot wallet of choice, #MetaMask
#crypto
https://lnkd.in/eKvZ6du7
Leave a Reply
Want to join the discussion?Feel free to contribute!