How to set up Metamask for Binance Smart Chain — LeoFinance
Let me hope you are all aware of the high fees on the Ethereum blockchain that have hindered many people(me inclusive) from swapping or transacting there.
I have to admit that I missed the massive defi boom because of the high Eth prices, imagine I missed the UNI Airdrop because I failed to use Uniswap because of the high eth fees.
Let me also hope that you have read or seen CZ the Binance CEO shilling Binance smart Chain on Twitter lately.
He has made many tweets lately about how BSC is doing better(or close to) than Eth in terms of transactions, also many projects crossing from Eth to BSC.
In this image below is my reply to CZ tweet
In this tweet CZ stated that Eth is a network for the rich guys.
ETH is a network for the rich guys now, but soon those guys will be poor. Face with tears of joy
Okay enough of the small talk, let us get to the main reason I wrote this post.
Since most projects are moving from Eth to BSC, we need to learn how to transact/swap in BSC.
You can read more about the Binance Smart Chain from the Binance academy blog so that you get in the know of what is happening.
So today we are going to set up Metamask(which has been a dominantly Eth based network) for Binance Smart Chain.
Step 1 Setting Up Metamask Wallet
The obvious first step is installing Metasmask on your individual device, you can download Metamask by visiting the download page.
You can install Metamask on Chrome, Firefox, Brave or Edge
For this post, we shall use Chrome since it is what I am using.
Step 2: Create a Wallet/Restore Wallet
The next step after downloading Metamask is creating a wallet(if it is your first time) or restoring a wallet if you had it created before.
If you are creating anew wallet, please save the seed phrase, that 12-word phrase as that is your password.
It is recommended you save the seed phrase offline and in multiple places because if you lose it you also lose your funds.
So we finally have our new wallet as shown below
Newly installed Metasmask
Step 3: Configure Wallet
You now click on the drop-down(just close to Ethereum Network) and choose settings as shown below
Now on the Settings page, locate the Networks menu.
This is now the part where we manually add the Binance smart chain network by clicking “Add Network” from the top right corner
You can now add this below in the network field and click save
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
Step 4 Change from Ethereum Network To Smart Chain
After you have saved the settings in the previous step, you can now change from Eth to BSC as below
So folks that is how you set up Metasmask for Binance Smart Chain, let the Eth Logo not fool you hehehe.
You can now transfer some BNB to your wallet address here and you being transacting at very low fees(less than a dollar).
If you like this post, please upvote and reblog or share it on other social media networks like Twitter or Facebook.
You can also send me some BNB on my newly created wallet above, thanks.
Here is the address which is BEP20 0x0D066958848189e28ec749cEcb9d4e2180Eac517
Posted Using LeoFinance Beta
Originally published at https://leofinance.io on March 1, 2021.