Your MetaMask wallet will be connected with PancakeSwap. Once you click ‘Save’, you’ll automatically switch to the BSC mainnet and how to buy fox finance crypto the cryptocurrency symbol and logo will change from ETH to BNB in the wallet’s interface. Mainnet is the completely developed blockchain network while testnet usually exists as a working prototype. If you want to download it as a browser extension, it supports Chrome, Firefox, Brave, and Edge browsers. Go to your respective browser and follow the steps for installing the extension.

Step 4: Transfer BNB to Your MeteMask Wallet

If you didn’t create an additional account, the one account you have will be bitcoin leads cryptocurrency sell automatically selected. Add the same parameters as given above to add the network in the mobile app and tap ‘Add’. To view the BSC network in your mobile wallet, you’ll have to add the network there too. Now, that the experiment with testnet is complete, you can switch to the BSC mainnet without any worries and transfer BNB from the Binance Smart Chain network to your MetaMask wallet. Go to your wallet and click the ‘Account 1’ or account name at the top to copy the wallet address. This is the public address of your wallet which you share with others.

Considerations for BNB Token Management

1. Click on Ethereum Mainnet to reveal a dialog containing all available (configured) networks on your Metamask wallet.
2. Each of these activities has a cost, which the user must pay in Ethereum or its designated token.
3. Whether it’s trading tokens orexploring new dApps, BSC brings a wealth of opportunities to your MetaMaskwallet.
4. The private key is hidden from the rest of the world as it allows you to access the money in the wallet.

It also provides robust security features, such as seed phrase backup and biometric authentication, to keep your digital assets safe. When navigating around crypto protocols, one of the standard actions you need to do is « Connect Wallet ». Metamask is one of those wallets that support multiple chains. However, making connections in Metamask is not entirely straightforward, and you will need to configure some settings to make it work.

Testnet

Select BNB as the coin to withdraw, paste your Metamask BEP20 wallet address in the address field and select Binance Smart Chain (BEP20) as the network to be used for the transaction. Using any other network will make you lose your funds. Suppose you want to trade tokens on the Binance Smart Chain network using DEXes like Pancakeswap or maybe you just want to store BEP20 tokens. One thing you will notice is that the default blockchain network on Metamask is the Ethereum network. Since Metamask supports multiple chains, it is possible to add more networks.

The first step in adding Binance Smart Chain to Metamask is installing and configuring the Metamask extension on your browser. Keen on helping others navigate the complicated, and sometimes, confusing world of crypto through easy-to-understand articles, designed for non-techies like me. We’ve got the network added successfully—time to do a test. That way, we don’t have to worry about lost funds, and you get to try it out yourself.

For example, you can withdraw BNB from your Binance account to your MetaMask via the BEP-20 network. 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. Once you add the Binance Smart Chain to your Metamask wallet, you can send and receive BSC (BEP20) tokens on your Metamask wallet easily. You can also repeat this process for other centralized crypto exchanges crypto wallets like Trust Wallet or Coinbase Wallet. On Trust Wallet, send “Smart Chain” and not “BNB” to your Metamask BSC address.

You cannot use it with blockchains Solana or Bitcoin for this exact reason. MetaMask, as well, supports all Ethereum Virtual Machine (EVM) networks. Fortunately, it’s easy to use it the tax treatment of cryptocurrency with the Binance Smart Chain as well. Using MetaMask with Binance Smart Chain gives users all the features that MetaMask offers when it comes to interacting with blockchain applications.

Web3.js help us develop web apps that could interface with the Ethereum blockchain. It allows web pages and extensions to utilize Ethereum’s capabilities and features. Next, make sure the Binance Smart Chain network is added (and selected) then click on the 3 dot icon on the top right side of the page. Tap on Add Network at the bottom of the screen to add a new network to your Metamask wallet. On the Metamask Settings page, scroll down and tap on Networks to view all available networks on your Metamask wallet. Transferring BNB from Binance to Metamask can take anywhere from 3mins to 30mins depending on the current network load.

Click Send and paste the destination wallet address. 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. As mentioned earlier, MetaMask is used to connect with the Ethereum blockchain.