Intro
This tutorial post will show you how to connect your metamask to the “Binance Smart Chain” (BSC) network. This way you can hold your BEP20 tokens and also access DAPPS, DEX’s or even DeFi platforms that support Binance Smart Chain.
My name is Ryan, welcome to my channel “Crypto Earnings 101” where I help you make extra crypto online. So if you are interested in making crypto by playing games, running apps and earning through DeFi then please subscribe to my YouTube channel by visiting the link below.
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How To Install Metamask
First I will quickly go over how to install Metamask.To get set up, head over to metamask.io, Metamask supports a lot of different browsers and it is also available as an app for both Android and iOS. For the purpose of this tutorial, I am going to install Metamask on Brave Browser, but you can use Chrome, Firefox or Edge as these are all supported and work just as well.
If you click on “Download Metamask'', this instals an extension onto your browser, after it has been installed you can find it in the top right of your browser. Click the Metamask icon to open the extension, if you are setting Metamask up for the first time you need to follow the on screen instructions, these are relatively straight forward. Click on “Create a Wallet”, enter a password, confirm this again, tick the Terms and conditions and then press “Create”. You will then land on this screen showing you 12 recovery phrases. This is the most important part of setting up your account. These are 12 words which are unique to your account, they will allow you to import your Metamask Wallet onto multiple devices or recover a wallet you had on a device that stopped working or got lost.
Here’s some tips to keep your recovery phrases safe, never share them with anyone, never store them digitally, write them down in a notepad, store them on a USB drive and keep backups. If you lose these you will have no other way to recover your Metamask Wallet and therefore your funds will be lost. Once you have safely stored your recovery phrases and confirmed them in Metamask, you can then access your account safely.
Binance Smart Chain Tutorial
You can access a lot of different platforms and Decentralised Applications that are built on the Binance Smart Chain. What I really like about this chain is how cheap the fees are compared to other chains like Ethereum, also the network is fast to send and receive coins which is always important.
How To Create Multiple Accounts
Now that I have gone over the basics on how to install and setup, let’s jump right into the main dashboard on Metamask. To open it on your browser, go to the top right and click on your Metamask Extension which opens up Metamask. If you click the 3 dots on the right hand side and then select “Expand View”, this just opens up in a window which makes it slightly easier to work with. If you are using the app on Android or iOS, everything I am showing you in this video is the same on the app and it works in exactly the same way. There's a slight difference in layout but it is easy enough to navigate yourself around if you keep reading.
Before I go ahead and show you how to set up Binance Smart Chain, there are a couple of important points I will go over. First, you don’t need to create a new Metamask Wallet to add BSC Network, you can actually create multiple “Accounts” within the same Metamask Wallet. If you click on the circled icon in the top left, it brings down a menu, click on “Create Account” and this creates another wallet in your Metamask Wallet. This isn’t necessary to do if you don’t want multiple accounts, some people prefer to keep different wallets separate. Just thought I would mention this as an option for you if you wish to do it this way.
You can still add BSC to “Account 1”, it doesn’t matter if you already hold ETH tokens in this wallet as you can easily swap between different networks on the same account. Just to make you aware, your assets won’t be lost when you switch to another network.
How To Add BSC Network
When you are on your metamask dashboard if you click where it says “Ethereum Mainnet”, a menu will drop down, then if you click on “Add Network” it will take you to this page. At first this looks a bit confusing, but don’t worry you don’t need to understand what all of these actually mean, I will show you where to find the details and what to type into each box.
When inputting the details for BSC, it is best to copy and paste the field one by one. This way you won’t make any mistakes. Here are the details:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
Once you have filled in all the boxes with the correct information, click on “Save” and then click on the Metamask Logo in the top left to go back to the main dashboard. You can now see that Binance Smart Chain has been added to your Metamask account. A couple of things have now changed, you should see the Binance Smart Chain icon appears, underneath this, your account now shows BNB where it used to say ETH.
If you are now seeing these changes on your screen then congratulations, you have now successfully added Binance Smart Chain to your Metamask. As I mentioned earlier, you won’t lose any coins or tokens on other networks, say you are holding ETH and you want to go back to that account, simply click on this button where it says “Smart Chain” and select “Ethereum Mainnet”. This will then take you back to your Ethereum wallet. When you switch back, you can see ETH appears along with the Ethereum icon. I will now go over how to send and receive BNB to your wallet.
How To Send & Receive BNB
I assume that you already know how to buy/sell crypto. If you don’t, I have put the link to my Binance Tutorial video below.
One important thing to remember when you are depositing or receiving BNB is to make sure you choose the correct network, this will be called BSC, Binance Smart Chain or BEP20. If you choose the wrong network you will not be able to recover thse coins.
For this tutorial post I will show you how to deposit using my Binance account, to copy the address click here, please note that your ETH address is also the same as your Binance Smart Chain account, so this is why choosing the correct network is very important. If I head over to my Binance account, you can see that I am on the withdrawal section and I have BNB selected. Paste the address you just copied from Metamask here and then choose Binance Smart chain network here.
You can see that there are 2 networks, BEP2 is the older chain so you want to avoid using that, Binance Smart Chain is the newer chain, which is faster and has cheaper fees. I am not going to go into detail on how to send coins on Binance, this was just to show you how important choosing the correct network is. (See pic below)
To send BNB from Metamask is just as easy as receiving. If you go back to your Metamask Wallet and make sure you are on BSC network, below your balance you have 3 blue icons, click on “Send” which will take you to this screen. If you have more than 1 account you can easily transfer between them by clicking here. If you are sending coins to another wallet or a friend, make sure you copy the address, paste it into the box. For the next section you need to type in this box how much you are wanting to send. Remember to always leave enough for fees, luckily BSC has very low fees but it is always ideal to leave some BNB to pay for this. After you have double checked the address and amount, click on “Send” and you will see a notification pop up in the Metamask extension. Approve this payment and depending on network traffic, you should receive this transaction pretty quickly.
Extra Security
Another great feature that Metamask adds, is the ability to connect a hardware wallet. This could be a Ledger or a Trezor, i personally use a ledger to hold most of my assets. If you click here and then select “Connect a Hardware Wallet”, you can see that Metamask offers 4 different option. Connecting your account to a hardware wallet just offers that extra layer of security when you are withdrawing your coins. Just wanted to mention this and to make you aware that this is an option if you wish to use it.
Summary
If you were wondering how to log out of your metamask when you aren’t using it you can do this by simply clicking here (see pic) and then clicking on “Lock”, this will then log you out of your account. To log back in, just type in your password you made when you first created your account.
I hope this Metamask tutorial post has helped you work out how to get set up Metamask and add Binance Smart Chain Network to your account. I have left the video to this Tutorial below if you wish to view this, also if you could subscribe to my channel I would appreciate that so much. Thank you
