This guide will take you through the process of setting up Binance and Metamask account so that you can start trading ERC20 tokens using the Binance Smart Chain. You’ll need about five minutes to complete all of the steps in this guide, but you will save hours trying to figure this out on your own! Let’s go!
Signup on Binance
Go to the Binance website and create an account – For those who want to use their own personal wallet, you can visit Binance’s website and create an account. Once your account has been created, log in through your email address or through social media.
Once you have logged in, go to Wallets on the top right side of the screen. Next, click on Add Wallet. A pop-up should appear that asks if you want to connect with a hardware wallet or use a third-party service. If you would like to use a third-party service, select Metamask from the list. Input your desired password and then click Create.
The next step is connecting your Binance account to Metamask by clicking Connect at the bottom left corner of this page. You will be prompted to input your password as well as confirmation that you are not using MetaMask on another browser tab/device simultaneously. Click Confirm when done!
The next step is to download and install MetaMask. This is a browser plugin that will help you connect your Ethereum address with a wallet on the blockchain. Here’s how:
- Click this link , then click Add to Chrome.
- Select Always allow on this site in the pop-up, then press Add Extension.
- Enter your password, enter Metamask into the text box, then click Create.
- You’ll be given a 12 word seed phrase which is important so store it somewhere safe! Copy the words one at a time and paste them into Notepad or another text editor. Save the file as metamask-seed.
If you lose access to your Metamask account or forget your password, this seed phrase can help recover access to any funds associated with it. Next up, we need to configure our account so we can receive tokens from an ICO (Initial Coin Offering).
Click Tokens from the top menu bar of your account dashboard. On the left side of your screen, scroll down to find Token Balances and click it.
Add the Binance Smart Chain to Metamask
The first step is to go ahead and log in or sign up for a metamask account. Once you have your metamask created, you will need to add the bns smart chain.
Click on Tokens then click on Add Token. There are two ways- that you can find this– token. Either search by name or scroll down until you see it. When you do, enter Binance as the Token Address and BNB as the Token Symbol. You’ll be able to choose a decimal place amount of either 0 or 2, with 2 being more popular.
Lastly, select how many tokens that you would like added and hit ADD TOKEN at the bottom right of your screen. Congratulations! You’ve successfully connected your Binance account to MetaMask. Now when you login to MetaMask it should show the Binance smart chain among all of your other tokens.
Connect your Binance account to Metamask
Connecting your account is pretty easy, just follow these steps:
- Click on the Connect button on your Metamask wallet.
- Select Connect Existing Account.
- Copy-paste your Binance private key into the input box labeled Private Key.
- Click Unlock Wallet when prompted to confirm you want to unlock your wallet with this key.
- After clicking Unlock Wallet, a new screen should appear prompting you to enter your password. Enter it, then click Submit.
- You should now see a message that says Successfully connected.
- Go back to the main Metamask interface and select Ethereum (ETH) as the network type in order to be able to interact with Ethereum addresses on the Binance blockchain via a smart contract function in our alpha version of metamask
Add BSC Network Information
The BSC Network is a blockchain platform that allows enterprise-level businesses to create their own chains and customize them according to their needs. The BSC Network is also compatible with Ethereum, making it easy for companies that are already on Ethereum’s blockchain to make the transition over.
To connect your account on both platforms, follow these steps:
- Create a wallet address on Metamask.
- Click on Send Ether & Tokens in the top right corner of your screen.
- Select BSC Network (ETH) from the dropdown menu under Gas Limit and enter 250000 as your Gas Limit.
- In the Recipient field, enter the ETH Wallet Address you generated on Metamask. Under Amount to Send, enter whatever amount you want to send (in ETH).
- After you have sent funds from one account to another, click confirm receipt and then press submit at the bottom of the page. That’s it!
Start using the Binance Smart Chain!
Connect your Metamask with your Binance account by following these steps:
- Log into your Binance account.
- Click on Funds in the top right corner. This will take you to a page that will list all of your funds like BTC, ETH, LTC, and so on. Click Deposit.
- Click on Copy Address next to each of your desired tokens.
- Go back to the MetaMask extension, click on Manage Tokens from the sidebar (bottom left), then click Add Token.
- Paste your copied address into the field labeled Token Contract Address. You may need to scroll down to see this button.
- Next fill out the remaining fields like Symbol and Decimals, which should be self-explanatory if you are copying an existing token. Then click Save & Close at the bottom.
- You should now see a green check mark next to MetaMask is connected when opening up your wallet. All done!
Setting up your account using the Metamask extension is a lot easier than it sounds. To get started, make sure you have downloaded MetaMask from Google Chrome or Firefox.
Once installed, open up MetaMask, click on connect in the top right corner and enter your password to connect. Now click on connect again in the top right corner of MetaMask and enter your Binance email address.
That’s it! You’re all set up with MetaMask and ready to go!