How to add Binance Smart Chain to MetaMask
In this blog, we show you how to add Binance Smart Chain to MetaMask wallet. First, we talk a bit about what BSC is and what it does, etc. If you do not want to read about that and directly want to see how to add Binance Smart Chain to MetaMask. You can go down this page and start reading “Getting BSC on MetaMask”.
What is Binance Smart Chain
The Binance Smart Chain was launched as an initiative of the Binance centralized exchange. But note that the Binance exchange does currently not control the network and that the community runs the chain completely. However, Binance its support for the blockchain. The BSC’s has as its purpose to support the current Defi, NFT, and gaming Dapps on the blockchain. This mostly functions alongside Ethereum as it currently experiences a lot of network congestion.Because of the high fees of Ethereum (1.0), the popularity of BSC has risen a lot and currently processes multiple millions of transactions every day. Not only that but it can also bridge to ETH in a simple way. This works because it functions as an EVM blockchain. This makes it super simple to go from one chain to the other. And users often can connect to both blockchains from within the same wallet.
Dapps on BSC
As Binance Smart Chain is already one of the biggest blockchains out there. It also has some of the biggest Dapps. Because of the huge ecosystem on the chain. The Dapps range from Defi, NFT’s, games, and everything in between (plus, maybe more in the future). One of the well-known Dapps, PancakeSwap has already soared to the top of DEX’s and has a higher transaction volume than its Ethereum competitor Uniswap on some days.Native Binance Smart Chian Dapps like PancakeSwap and BurgerSwap have performed very well running only on top of BSC. But there exist also many Dapps that have decided to launch on both Ethereum and Binance Smart Chain. This is mostly to reach more users and make use of the cheap transactions on BSC. Projects like SushiSwap, 1inch, and many more have captured some extra market share with this technique.But also Binance Smart Chain explorers have seen a good run with the popularity of the blockchain. Because a lot of people check their or other people’s transactions on-chain using a BSC explorer
Proof of Staked Authority
Like every blockchain, BSC has a consensus algorithm. Blockchains use this consensus algorithm to decide who gets to process the next block of transactions. So who will get the transaction fees and/or the block reward? Well, unlike Bitcoin, the Binance Smart chain does not use the Proof Of Work algorithm (P.O.W.). But instead, it uses a Proof of Staked Authority (P.O.S.A) algorithm. With these mechanisms holders of the BNB token can stake their tokens to a validator on-chain. Because the chain at all times only has 21 validators. A stake to any validator on-chain can thus be seen as a vote to that validator. These validators of course can also buy a lot of tokens and stake them themselves. The 21 validators with the most votes/stake to them thus get elected to be one of the 21 that process the transactions and earn the reward for doing so.
To send tokens from any smart chain to the BSC, you can not just send them from one address to another. No, you have to send it through a chain bridge. Because these EVM chains may give you the possibility to use the same address on different chains, they are still different blockchains. Meaning that a Binance Smart Chain address stays the same when you use another EVM chain. So a token bridge is the only way to switch from chain to chain. The BurgerSwap bridge and Binance.org bridge are 2 that are very well known. Both let you send tokens from Ethereum to Binance smart chain and vice versa. But the bridge on Binance.org also lets you bridge BEP-2 tokens to BEP-20 from the Binance Chain network and bridge tokens from the Polkadot ecosystem.
How to pay fees on Binance Smart Chain
BSC has its own token that you need to pay for transaction fees on-chain. The Binance token BNB. You need this token to make any transaction on-chain and without it, you can’t use the blockchain. Besides its use case as a gas token on the smart chain, you can also use it on the other Binance Chain. And as well as a discount for trading fees on the Binance exchange. Although users do need the token for making transactions, they do not need much. Because of the low transaction fees on the network.
Smart Contracts on Binance Smart Chain
Because BSC works as an EVM (Ethereum Virtual Machine) deploying smart contracts on it goes in a similar fashion as on Ethereum. This is mostly the reason that Dapps deploy on both chains, and sometimes others too. Dapps, Staking features and much more can thus move/function on multiple chains. But it always depends on the team behind the smart contract whether or not they deploy on certain chains.
Wallets that support Binance Smart Chain
Since the start of Binance Smart Chian, the network has grown like crazy. So as expected the amount of wallets supporting the chain has too. It can work as a nice way for wallet users to reduce their gas fees while the ETH gas fees go through the roof. This way users can still keep on using Defi and more during this period. The best for wallets supporting both chains would then of course be to also have a bridge integrated into the wallet. This is so that users can easily switch their tokens between chains whenever they want.All of these wallets supporting BSC can be found on our Binance Smart Chain wallet filter page. And yes, Metamask is found there too. But you will have to add BSC to Metamask manually. You can find the instructions to do this below. So now read below how you get the BSC network Metamask and start using the power of the Web 3.0.
Getting Binance Smart Chain on MetaMask
So to add the Binance Smart Chain to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page). Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.
Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the BSC.
|Network Name:||Binance Smart Chain|
|RPC URL Binance Smart Chain:||https://bsc-dataseed.binance.org/|
|BSC Chain ID:||56|
|Block Explorer URL:||https://bscscan.com|
When you have done this, you can just click save. And now you have added the BSC to your MetaMask wallet. If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain. Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc. We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use BSC as much as you want.
Find your wallet here
In case you want to see all the other wallets supporting Binance Smart Chain. You can simply take a look here to filter between all wallets that do!
So we hope this article taught you more about how to add Binance Smart Chain to MetaMask wallet. But in case you have Questions regarding Crypto or Ethereum? Feel free to ask them on our online Facebook or Telegram groups. Because we are happy to help whenever we can! So are you ready to start using your own Blockchain wallet? Take a look at our unique wallet finder functions here! So you can find the perfect wallet for your blockchain.