Metamask wallet has shown to be quite effective for decentralized finance (De-Fi) applications, especially for use on the Binance Smart Chain. This article will guide you by setting up a MetaMask wallet on the Binance Smart Chain (BSC).
Crypto Wallet
A cryptocurrency wallet is used as a storage method for your crypto tokens or coins. Wallets allow users to keep custody of their crypto securely without needing to use a centralized entity. Some people call their wallets their crypto bank, but they can maintain token possession. The lovely thing about wallets is that you control them with your 12 or 24-word keyphrase, allowing users to access their crypto anywhere using the given keyphrase. It is crucial that users safely maintain this keyphrase as it is necessary to access your crypto assets, and if lost or stolen, your crypto assets will become un-returnable
Why MetaMask Wallet
Metamask wallet has shown to be quite effective, especially for use on the Binance Smart Chain and in decentralized finance (De-Fi) as a whole. This article will guide you by setting up a MetaMask wallet on the Binance Smart Chain (BSC).
How To Connect a Metamask Wallet to The Binance Smart Chain Network
Step 1:
Open the MetaMask wallet using your desktop or phone
Step 2:
Open a wallet or import one, be sure to store your keyphrase safely
Step 3:
Go to settings
Step 4:
In settings select “Networks”
Step 5:
Select the add network button and input the following information:
Network Name: BSC Mainnet
New RPC URL: https://bsc-dataseed1.binance.org/ or https://bsc-dataseed2.binance.org/
ChainID: 56, or 0x38 if 56 doesn’t work
Symbol: BNB
Block Explorer URL: https://bscscan.com/
Step 6:
Select the newly added BSC Mainnet network and you’re now connected to the BSC network.
Step 7:
Be sure to load your wallet with some BNB (~.01) to pay transaction fees it is very cheap if you compare with ETH network.
Step 8:
Connect and use your wallet to various Dapps on the BSC using the built-in Web3 integration
Step 9:
Add ModMarketFX Token (MMFT) contract address to your wallet
See how to add Street Money on your wallet
Conclusion
Once these steps are followed users will be able to access nealy all Dapps on the Binance Smart Chain. This wallet supports all crypto assets on the BSC, if not listed in your wallet be sure to add the token using the specific token contract address. Overall MetaMask is not the only wallet available to BSC users but it provides access to nearly all Dapps making it a great beginner wallet. This wallet is also compatible with the Ethereum Network through selecting the default “Ethereum Mainnet.”
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