Are you fed up with the high gas fee on Ethereum or do you want to explore new projects on Binance Smart Chain? Do you want to swap your crypto for much much lower fees than on Ethereum?
This article might help you to get your Metamask wallet connected to Binance Smart Chain. If you don't have a Metamask wallet yet, create one here right way and continue reading this one.
When you setup a Metamask wallet, the default networks that are present on Metamask are the Ethereum Mainnet and some Ethereum testnets. You can only interact with the dapps that are present on the Ethereum Network, like Uniswap, Sushiswap, 1inch, etc.
Binance Smart Chain(BSC) is an Ethereum compatible blockchain network. Instead of Ether(ETH), the native token on Ethereum, we have Binance Coin(BNB) as the native token on Binance Smart Chain. All the transaction fee and gas fee on Binance Smart Chain are paid using BNB. And just like we have ERC-20 tokens on Ethereum, we have BEP-20 tokens on Binance Smart Chain.
To interact with dapps on Binance Smart Chain using Metamask wallet, we need to connect both of them. Here is a step-by-step walkthrough on how to connect Binance Smart Chain network to your Metamask wallet.
Connecting Binance Smart Chain to Metamask Wallet
- After you log in to your Metamask wallet, click on the three dots present on the top right and click on 'Expand View'.
- You will land on a screen like the one below. Let's add the custom network i.e., the Binance Smart Chain to the Metamask. Click the network drop-down list shown below.
- Now at the bottom of the list, you can see Custom RPC. Click on Custom RPC and the Settings window appears.
Binance Smart Chain Mainnet Settings
Now enter the Binance Smart Chain Mainnet details as it is as given below
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Chain ID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
Enter these details and click Save. Now the Binance Smart Chain network has been added to your Metamask wallet.
Send some Binance Coin(BNB) to your Metamask wallet before you make any transaction as your transaction won't go through without gas fees which are paid with BNB.
To send BNB to your Metamask wallet, buy some BNB on Binance exchange, select Withdraw option from your Wallets tab and select BNB token. Now copy the Metamask address and paste it into the Address box. Select the Network as BEP20(BSC), otherwise, you may lose your funds. Now select the amount of BNB you want to send and click Withdraw. You will receive BNB to your Metamask wallet in few minutes.
Now you can start interacting with dapps on Binance Smart Chain. Some of the most popular dapps on BSC are:
1. Pancakeswap
Pancakeswap is a Decentralised Exchange where you can swap your cryptocurrency tokens and also add liquidity for the given pools and earn APY on your deposits
2. Venus
Venus protocol offers Decentralised Finance(DeFi) lending and borrowing services
3. Beefy Finance
Beefy Finance is a yield aggregator. It provides you yield from different platforms on Binance Smart Chain
4. Poolz
Poolz is a IDO platform where new projects get launched
There are a lot of projects on the Binance Smart Chain. Invest wisely. Not all projects are legit. You can even create your own cryptocurrency on Binance Smart Chain by going through our tutorial here.
If you want to test a project or dapp on Binance Smart Chain, BSC testnet enables you to interact with the dapp without using real money. Firstly, we have to connect testnet network to our Metamask wallet just like we did the Smart Chain main network.
Binance Smart Chain Testnet Settings
The network details for the Binance Smart Chain Testnet are
Network Name: Smart Chain - Testnet
New RPC URL: https://data-seed-prebsc-1-s1.binance.org:8545/
Chain ID: 97
Symbol: BNB
Block Explorer URL: https://testnet.bscscan.com
Now that you have added the testnet network to your Metamask, you need some testnet BNB to start testing the dapps.
You can claim some testnet BNB here https://testnet.binance.org/faucet-smart
Enter your Metamask wallet address in the box and you will receive some testnet BNB which you can use to transact on dapps. These testnet BNB do not have any value and cannot be transferred to mainnet as these are two different networks.
Now send some testnet BNB to our address for your practice. Here you go. Click on the Send button in Metamask and paste our address 0xF4593434FC961a0ba10D47192294a78756a61757
Metamask helps us navigate through the dapps while Binance Smart Chain is getting developers' and users' attention due to very low fees and ease of use. BSC could become an Ethereum killer if not for the gas fees. However, let's see what both platforms have to offer in order to keep up with each other.
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