The blockchain industry has seen a lot of change in recent years, but few blockchains have managed to gain the kind of popularity Binance Smart Chain (BSC) has. This is largely due to the fact that BSC offers an alternative to the Ethereum blockchain—an alternative that many advocates and enthusiasts have been seeking out.
Because of its design, the Ethereum blockchain is subject to steep gas price increases during periods of high demand—a problem not encountered by BSC. The volatile nature of gas might be pulling people away from Ethereum but it is still one of the most popular blockchains, especially with regard to non-fungible tokens (NFTs). Apart from NFTs, Ethereum hosts a myriad of solutions that make the blockchain network unmatched.
By combining MetaMask and BSC, the users will be able to enjoy a whole lot of features. Here's how: Connecting MetaMask to Binance Smart Chain.
Connecting MetaMask to Binance Smart Chain: What Is MetaMask?
MetaMask is an Ethereum-based crypto wallet that connects you to the Ethereum blockchain. You can use it to make ERC20, 721, and other Ethereum-based tokens transactions. In addition to this transaction ability, you can also swap BNB for other tokens on decentralized exchanges using MetaMask.
You can also use MetaMask as a browser plugin for Chrome, Firefox, Opera and Brave browsers so that you can easily make transactions without having to download any new software or applications.
MetaMask is easy to install and use. It has no fees and does not require any personal information from its users.
What is Binance Smart Chain?
You’re probably asking yourself, “What is BSC?” Well, Binance Smart Chain is a blockchain that runs in parallel with the traditional Binance Chain. The Binance Chain was introduced in 2019, and its main focus was to facilitate fast and decentralized trading. However, there were some flexibility issues with this chain, which in turn led to scalability issues. This is where Binance Smart Chain comes into play.
Unlike the Binance chain, BSC is compatible with EMV (or Ethereum Virtual Machine) technology. This was done to leave high bandwidth behind the original chain and to introduce smart contracts into the ecosystem through the implementation of BSC. So how does it work?
Binance Chain uses a Proof-of-Stake (PoS) consensus algorithm. More specifically, it uses the Proof-of-Staked Authority (PoSA) algorithm. Here, participants bid BNB to become validators. If a validator bids a valid block, they are rewarded with commissions for transactions within that block.
Cross-Chain Interoperability is also an important part of this new chain. This architecture allows users to seamlessly transfer assets from one chain to another. This means that fast trading on Binance Chain can be used simultaneously with the creation of dApps on BSC.
Binance & MetaMask: How To Add Binance Smart Chain To MetaMask
Connecting your MetaMask wallet to the Smart Chain will allow you to receive the benefits of its ecosystem. Here's how you do it:
Step 1: MetaMask Installation & Wallet Creation
Step 2: Wallet Configuration
Step 3: Binance Smart Chain Network
Step 4: Funding Your Wallet
Step 1: MetaMask Installation & Wallet Creation
MetaMask is available as a browser extension for both Chrome and Firefox and others browsers, as well as a mobile app on iOS and Android. The browser version allows you to use the wallet while also browsing the web, while the mobile app lets you access all of your accounts any time — even when offline!
If you do not own a wallet, the first thing that needs to be done is to download and install the Chrome extension of MetaMask.
Metamask extension (Google Chrome)
Open Chrome and visit the official MetaMask website and click "Download Now". On clicking this link, it will automatically start downloading the extension from the Chrome Web Store. Once downloaded, click on “Add To Chrome” button, which will open up a pop-up box asking you if you want to install it on your browser. Click on “Add Extension” button and wait for it to load up successfully.
After installation, you'll be asked if you're "New to MetaMask?" along with several options like "Import Wallet" and "Create A Wallet".
Step 2: Wallet Configuration
To connect MetaMask to the Binance Smart Chain DApps, certain settings need to be changed so that the wallet is focused on the nodes of the Binance Smart Chain network.
👉 You can also use the service. Which greatly simplifies the work of adding new networks to MetaMask.
Step 3: Binance Smart Chain Network
You'll see the BNB icon in the upper-right corner, showing that you have connected MetaMask to Binance Smart Chain.
Step 4: Funding Your Wallet
Once you've learned how to add Binance smart chain to MetaMask, you can transact using the MetaMask wallet.
👉 By the way you can select WacthData as your data provider in Metamask, let me explain this in more detail.
Step 5: Connet to WatchData Nodes
To access the BSC API from the WatchData website, the first step is to create an account. This is completely free and takes just a few seconds. As you have an account and sign in, we can take a closer look at how to connect to BSC API with WatchData.
1. Login
2. Create API key
Select Blockchain and create API key
3. Result
Now create a custom RPC configuration in MetaMask
Go to your MetaMask wallet and click on the network drop-down list at the top, selecting Custom RPC at the bottom.
Then you’ll see the following screen:
Let’s fill in these fields with custom RPC information.
For your network, you can assign any name you want. We will use the BSC network and in this example, we will name it BSC WatchData
For the New RPC URL field, generate a key and copy the HTTP Link for the blockchain you need to work with.
Find the chain ID for the network you want to connect to.
Binance Smart Chain Mainnet — chainID = 56
Currency Symbol and Block Explorer URL are optional. For most chains, no input is needed here.
When you’re done, your configuration should look something like this:
And don’t worry if you get a warning, for example: “This Chain ID is currently used by the Binance Smart Chain network.”. This is just MetaMask reminding you that you have a different configuration for the same chain, which is fine. Once you’ve filled in these information fields, just click Save!
And that’s it! You’re done!
What Are the Benefits of Linking Metamask and Binance Smart Chain?
The first benefit is that you gain access to all DApps on BSC. You can transfer ETH, BNB, and other currencies more easily and smoothly, and you have better control of your assets.
Another benefit is that you can now participate in any token sale with MetaMask installed on your browser.
In addition, you'll be able to use the same address for exchanges which means less time spent managing multiple accounts and more time spent trading!
Is Connecting MetaMask to BSC Safe?
Yes, it is safe to connect MetaMask to Binance Chain. You can safely connect MetaMask to Binance Chain by following the steps outlined above. While it is safe, it is important that you take great care when making transactions with your tokens on Binance Chain. If you mistakenly send your tokens as BEP2 tokens instead of as BEP20 tokens, then you will not lose your coins but they will not have the desired functionality. You can read more about how BEP2 differs from BEP20 in this article.
There are a few things that you should know before connecting MetaMask to Binance Chain:
MetaMask is only compatible with Ethereum-based coins. If you try to connect it to other types of coins or tokens, there is a risk that your wallet could be compromised and drained of funds.
You should never use MetaMask on an insecure network because there are security risks associated with those networks.
Conclusion
MetaMask is one of the easiest and best wallets for you to manage your Ethereum-based tokens. And because you can use it to connect to Binance, it's also a fantastic tool for you to use when you're making BNB or other smart chain based transactions. Since there are no fees or tricks with this particular wallet, now is a great time for you to start using it.
WatchData makes it easy to connect to a BSC node. All you have to do is sign up, and then you can use our platform to connect with a node in just a few clicks. The WatchData team is here to help get you up and running. To get more information we’re highly reccomend you to learn our official documentation.
Get access to all sorts of tools helpful in developing dApps!
FAQs
What is a BSC network?
The Binance Smart Chain (BSC), a blockchain system from the crypto-trading platform Binance, is designed to function as a high-performance infrastructure for decentralised trading. It will enable dApp development, interoperability between other blockchains, and support of smart contracts and other DeFi products.
Can MetaMask receive BSC network?
MetaMask is one of the best crypto wallets out there and easy to use. Supported by many BSC applications. You can use it as a browser extension or mobile app. However, MetaMask is an Ethereum wallet by default.
How do I add a Binance chain to a network MetaMask?
Step 1: MetaMask Installation & Wallet Creation
Step 2: Wallet Configuration
Step 3: Binance Smart Chain Network
Step 4: Funding Your Wallet
Is MetaMask BNB BEP20 or BEP2?
BNB (BEP2) and BSC (BEP20) are completely different networks. MetaMask does not support BNB (BEP2). The address of BEP2 generated by the seed of your ledger is also not the address on the MM. So don't use the BEP2 network.
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