Binance has skyrocketed to fame as a reputable name in the world of cryptocurrencies. But did you know, there’s more to this giant than just trading? Binance also boasts a dynamic wing that runs smart contract-based applications, with two branches – Binance Chain and Binance Smart Chain (BSC). This powerful tool is comparable to Ethereum‘s ERC20 and ERC721f and can accommodate BEP20 tokens like $CAKE and $BAKE with ease.
Let’s take a dive into the world of Binance Smart Chain MetaMask setup and see how to effortlessly add it to your MetaMask wallet for seamless transactions in BNB.
Linking Binance Chain to Metamask: What is MetaMask?
Before we get started, it’s important to understand what MetaMask is.
MetaMask is a popular browser extension and mobile wallet that allows you to securely manage your cryptocurrencies and interact with decentralized applications (dapps) directly from your browser or mobile device. It acts as a bridge between your device and the blockchain, enabling you to easily send and receive cryptocurrency transactions and interact with dapps without having to download a full node or run a local blockchain client.
MetaMask provides a user-friendly interface that allows you to easily manage your digital assets, including Ethereum and ERC-20 tokens, as well as to interact with decentralized exchanges (DEXs) and other dapps built on the Ethereum network. It also provides robust security features, such as seed phrase backup and biometric authentication, to keep your digital assets safe.
MetaMask also makes it easy to connect with multiple Ethereum networks, including the Ethereum mainnet, Rinkeby testnet, and other custom networks, making it a versatile and flexible tool for interacting with the decentralized ecosystem. Additionally, MetaMask integrates with popular decentralized exchanges, such as Uniswap and SushiSwap, enabling you to easily trade cryptocurrencies and participate in DeFi protocols directly from your wallet.
Binance & MetaMask: How to Connect Binance to MetaMask
In order to receive the benefits, the MetaMask wallet must be connected to the Smart Chain. Here are the four easy steps to connect MetaMask to BSC.
- Step 1: MetaMask Installation & Wallet Creation
- Step 2: Wallet Configuration
- Step 3: Binance Smart Chain Network
- Step 4: Funding Your Wallet
Step 1: MetaMask Installation & Wallet Creation
If you do not own a wallet, the first thing that needs to be done is to download and install the Chrome extension of MetaMask.
- Open Chrome and visit the official Metamask website and click “Download Now”
- On the download page, select “Install MetaMask on Chrome”
- After installation, you’ll be asked if you’re “New to MetaMask?” along with several options like “Import Wallet” and “Create A Wallet”
- If it’s the first time you’re using MetaMask, click on “Create A Wallet”, or else, click on “Import Wallet” for your secret recovery phrase.
On selecting the former, you’ll get a recovery phrase that can be used to get access to your MetaMask wallet. The verification of this recovery phrase will be the last step to wallet creation.
Step 2: Wallet Configuration
As mentioned earlier, MetaMask is used to connect with the Ethereum blockchain. But to connect MetaMask to the Binance Smart Chain DApps, certain settings need to be changed so that the wallet is focused on the nodes of the Binance Smart Chain network.
- On the Settings page, select “Network”
- To add Binance Smart Chain (BSC) manually, click “Add Network” in the upper-right corner.
- We can now proceed with two networks Smart Chain testnet and the mainnet.
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
Network Name: Smart Chain – Testnet
New RPC URL: https://data-seed-prebsc-1-s1.binance.org:8545/
Block Explorer URL: https://testnet.bscscan.com
After saving the network, you’ll observe that your denominations have been converted to BNB instead of ETH.
Step 3: Binance Smart Chain Network
- Finally, you’ll notice the BNB icon alongside your BNB balance.
- The “Smart Chain” dropdown menu will be in the upper-right corner.
Thus, you’ve connected MetaMask to Binance Smart Chain (BSC).
When you want to set it back to the Ethereum network, just select the “Smart Chain” option and select “Ethereum Mainnet”.
Step 4: Funding Your Wallet
Now that we’ve learned how to add Binance smart chain to MetaMask, it’s time to make transactions using the Metamask wallet.
- Get the contract address of the token and copy it.
- Once you click on the address, you’ll automatically be redirected to the BSCScan page and copy the contact address there.
- Once again open MetaMask and click on “Add Token”
- Paste the copied contract address in your MetaMask and select “Next”
- Complete the process by selecting “Add Token” How To Add Binance Smart Chain To MetaMask
Do You Need A Binance Chain Wallet to Link Binance Smart Chain to Meta Mask?
To answer in one line: No, you don’t need a Binance Chain wallet to link Binance Smart Chain to MetaMask.
However, in order to interact with Binance Smart Chain and manage your BEP20 tokens, you will need to have a wallet that supports Binance Smart Chain. MetaMask is a popular wallet that supports Binance Smart Chain, so you can use it to manage your BEP20 tokens and interact with Binance Smart Chain. To add Binance Smart Chain to MetaMask, you’ll need to follow a few simple steps to set it up.
There are two ways to store your crypto assets on Binance Smart Chain-
- Either use the Binance Chain Wallet or MetaMask
- Or use the Binance platform (heads up — storing large amounts of crypto is not recommended)
What are the Benefits of Binance Smart Chain MetaMask Setup
There are multiple reasons to connect MetaMask to BSC, here are some-
- By linking MetaMask with Binance Smart Chain, you can easily send and receive BEP20 tokens, such as Binance Coin (BNB), directly from your MetaMask wallet.
- MetaMask is a secure and decentralized wallet that allows you to store your assets in a non-custodial manner, giving you full control over your assets and private keys. By linking your MetaMask wallet with Binance Smart Chain, you can take advantage of this added security when interacting with BEP20 tokens.
- MetaMask is a popular browser extension that allows you to interact with decentralized apps built on the Ethereum network. By linking MetaMask with Binance Smart Chain, you can access a wider range of dApps built on Binance’s blockchain, including gaming, trading, and lending platforms.
- Binance Smart Chain has lower fees compared to Ethereum, making it an attractive option for users looking to minimize the cost of transactions.
- Binance Smart Chain is known for its fast transaction times, which can be faster compared to Ethereum, particularly when the Ethereum network is congested.
The Bottom Line – How to Connect Binance to MetaMask
For years, MetaMask has served as the standard entry point into the vast Ethereum ecosystem. However, anyone may set up it to point at BNB Smart Chain with a minimum of fuss. As a result, they may benefit from the years of work that have gone into creating MetaMask an essential tool for anyone working with dApps.