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Other dApps include BakerySwap, BurgerSwap, Venus, MOBOX, Bomb Crypto, etc. Most NFT marketplaces such as OpenSea support MetaMask. At the beginning of the crypto boom back in 2021, MetaMask got the spotlight as the most popular and easy-to-use crypto wallet to buy NFTs. It is compatible with Ethereum’s smart contracts, meaning that any Ethereum developer can build on Binance Smart Chain without learning a new programming language.
Importance of Correct Network Details
Since the BEP20 token is similar to both BEP2 and ERC20 tokens, its compatible with both. If you’re still on the edge about the Binance Smart Chain blockchain or want to make a more informed decision, here’s a little overview. Binance Smart Chain is a parallel blockchain platform for the Binance Chain network. Both blockchains are owned by the Binance cryptocurrency exchange.
How to Add Binance Smart Chain to MetaMask (Desktop)
Although BSC is compatible with the Ethereum Virtual Machine (EVM), it operates independently from the Ethereum network. As such, the assets and operations on one chain do not directly impact or translate to the other. Click the network selection button near the top of the app. You will have to wait until it is what is bitcoin and why is the price going up processed by the network.
Metamask is also available on both iOS and Android via the App Store and Google Play Store respectively. The first step in adding Binance Smart Chain to Metamask is installing and configuring the Metamask extension on your browser. From here, we’ll send the funds off somewhere to demonstrate how it works. We’ve just grabbed a random address from BscScan Testnet that we’ll donate them to. To illustrate how the wallet works, we will make a transaction on the testnet network using fake money.
Step #1: Install MetaMask Wallet
Click where to buy uma coin 2020 on “Add Custom Token” and paste the smart contract address of the token, which can be found on BscScan block explorer. Binance Smart Chain (BSC) is a blockchain developed by Binance, one of the largest cryptocurrency exchange platforms in the world. Don’t be fooled by the Ethereum logo – we are fully connected to the BSC testnet.
At best, this won’t function with Binance Smart Chain DApps, and at worst, you can lose funds by sending them to invalid addresses. With Binance Smart Chain added to MetaMask, users can access and use Binance Smart Chain DApps directly from their MetaMask wallet. This is a significant advantage as it allows for a seamless integration between the wallet and the DApps on the Binance network. After successfully configuring your MetaMask to include Binance Smart Chain, you can then take advantage of the platform’s capabilities. One of the key features is the ability to interact with decentralized applications (DApps) on the Binance Smart Chain.
Although the Block Explorer URL says optional, you actually need to add it. If you do not have an account yet, you can see how to create one by following our dedicated guide. Once that’s done, you will have the Binance Smart Chain (BSC) network added in MetaMask.
- We’ll cover the basics of connecting your wallet and making simple transactions.
- For example, you can withdraw BNB from your Binance account to your MetaMask via the BEP-20 network.
- Go to your respective browser and follow the steps for installing the extension.
- To receive a BEP20 token on your Metamask wallet, simply copy your wallet address and send the token there from whatever wallet or exchange you choose to use.
- These features have, after all, taken years to come into effect and recent wallets on the BSC blockchain still have a long way to come.
- To import an existing wallet, you’ll need your secret backup phrase.
You will be asked to input the set password when you launch Metamask after how to short ethereum setting up your wallet. If you already have a wallet, click on Import Wallet and enter your 12-word passphrase to import your existing wallet into Metamask. Go to Ethereum Mainnet at the top left corner and click on Add network. It’s recommended to secure your wallet with a secret recovery phrase (also known as a seed phrase). This phrase will work like a master key to your wallet and funds.
Ensure that your MetaMask is set to the Binance Smart Chain network for the DApp to recognize your wallet. Once connected, you can interact with the DApp, performing actions such as staking tokens, swapping assets, or participating in yield farming, among other activities. After successfully adding the Binance Smart Chain network to MetaMask, you can manage your BNB tokens.
All tokens produced on BSC must adhere to the BEP20 standard. Your transaction will be finalized, and you must wait for the network to process it. Click on the “Add Network” in the top-right corner to manually add the Binance Smart Chain. Select settings from the dropdown menu, then go to the “Networks” menu. It’s crucial to note that the Binance Smart Chain and Ethereum are separate chains.
You can only claim one BNB on the testnet in one minute. Then, go to Binance Smart Chain Faucet to claim some testnet tokens. BSC Faucet is a portal for developers to get BNB and other BSC tokens for the testing environment. While on the testnet, you might see still see the logo for ETH instead of BNB. You’re still on the BSC testnet as long as the network name in the corner indicates so. As soon as you save the network, you’ll see that the network you just saved will be the one you’ll automatically switch to.
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But that’s not to say that you don’t have to be careful when making transactions on BSC with MetaMask. The dual nature of the BC and BSC chains offers users the best of both worlds. Users get a high transaction capacity of BC while BSC lets them enjoy smart contract functionality. Second, it can also support Ethereum applications and projects to run natively on the Binance Smart Chain. Although both chains work independently of each other, both chains are still linked through a Binance bridge. Binance Smart Chain has become very popular lately, owing to the fact that people are always looking for alternatives to the Ethereum blockchain.