How to Connect MetaMask to Binance Smart Chain: A Comprehensive Guide

MetaMask is among the most popular and widely used wallets to store digital assets such as cryptocurrencies. Most crypto users utilize this wallet to store, send, and receive Ethereum-based tokens. But did you know that you can combat MetaMask with many other blockchains beyond the Ethereum network?

MetaMask was built to be multifunctional and hence it can support most of the decentralized applications (dApps) and decentralized exchanges(DEXs), such as the Binance Smart Chain (BSC). This article will guide you step by step on how you can connect your MetaMask wallet to the Binance Smart Chain(BSC) network.

Understanding MetaMask: A Quick Overview

Before we dive to explain how you can connect your MetaMask wallet to the BSC network, it is important that we first understand what the wallet is. MetaMask was founded by Aaron Davis and launched by ConsenSys, a New York-based company in 2016.

Since its launch, MetaMask has become one of the most widely used cryptocurrency wallets and browser extensions that enables users to engage with the decentralized applications(dApps) on the Ethereum blockchain platform. It acts as an intermediary between your web browser and the Ethereum blockchain. As an intermediary the wallet allows you to operate your Ethereum-based assets and engage in decentralized finance(DeFi) activities.

MetaMask's Key Features

As a wallet, MetaMask has various key features all of which allow its operability. The common key features include:

Wallet and Key Management

MetaMask is a digital wallet that enables users to manage their Ethereum-based assets, such as Ether(ETH) and ERC-20 tokens. It creates and locally stores your private keys on your device so that you have control over your assets.

Browser Extension

MetaMask is a popular browser extension typically used in browsers such as Chrome, Firefox, Brave, and Edge. Upon installation, it adds a small fox icon to the browser toolbar.

User-Friendly Interface

MetaMask is known to be among the most user-friendly wallets to interact with. It enables you to see your wallet balances, and transaction history, and manage your assets.

Ethereum Network Interaction

MetaMask lets users interact with decentralized applications(dApps) on the Ethereum blockchain right from their browsers. These include activities such as decentralized exchange trading, token sales, and engaging with the various DeFi protocols.

Customizable Gas Fees

While utilizing the MetaMask wallet users can control the gas fees (transaction fees) for their Ethereum transactions based on their will. This function enables you to focus on the speed of cost-effective transactions.

Import/Export Wallet

MetaMask offers import wallet features based on a newly generated seed phrase or private key. This may be helpful for users who want to change devices or import wallets from other platforms.

Network Switching

MetaMask works with several Ethereum networks, including the mainnet of Ethereum, a variety of testnets, and custom networks. Users can move between these networks depending on whether it is a testing or development environment.

Token Swap and Exchange

MetaMask connects with decentralized exchanges and helps users to trade one token for another right through the wallet interface. 

What is Binance Smart Chain(BSC)?

Image via: forkast 

Binance Smart Chain (BSC) is a blockchain network developed by Binance – a leading global cryptocurrency exchange. The network was released in September 2020 and it strives to be a faster and cheaper alternative to the Ethereum blockchain for dApps and smart contracts.

BSC is powered by the Ethereum Virtual Machine (EVM) whereby it can execute applications native to the Ethereum chain. The blockchain network has emerged as a major force in the blockchain community, offering an alternative for developers and clients who prefer faster and cheaper transactions with an Ethereum-compatible network. Its expanding ecosystem encompasses DeFi projects, NFTs, and other decentralized applications.

How Does Binance Smart Chain Work

Binance Smart Chain uses a consensus mechanism called Proof of Stake(POS) authority. In this system, there is a group of 21 validators who are in charge of block production and verification of transactions. The validators are chosen based on their staked Binance coin (BNB) as collateral.

Validators rotate in producing the blocks of the blockchain resulting in a consensus that is a mixture of proof-of-authority and staking.

BSC seeks to have shorter block times as compared to other blockchain technologies including Ethereum. Therefore new blocks are generated on average every 3 seconds, thus making confirmations faster and transmission rate higher.

Binance Smart Chain runs alongside Binance Chain, the original blockchain designed by Binance. The dual-chain architecture enables a smooth transition of assets between the two chains. Users can move their assets between Binance Chain and Binance Smart Chain whenever they want.

The native cryptocurrency of Binance which is BNB plays a key role in the Binance Smart Chain ecosystem. It is used for trading fees, taking part in token sales, and staking by validators.

Steps to connect MetaMask to BSC

The process of connecting MetaMask to Binance Smart Chain (BSC) consists of a few simple steps. To start, ensure that MetaMask is installed on your browser. Or else, download and install MetaMask from the official webpage.

1. Open your MetaMask wallet and log into it.
2. Navigate to ‘Settings’ from the account options, which is a circle icon.

• When you are in settings, click on networks.

• Press the “Add Network” button.

• You will be redirected to a new page. 

This is the critical step since this is where the information to connect to Binance Smart Chain will be added. Fill in the Binance Smart Chain details as follows:

Network Name: Binance Smart Chain

New RPC URL: https://bsc-dataseed.binance.org

Chain ID: 56

Symbol: BNB

Block Explorer URL: https://bscscan.com/

• Press the “Save” button, and the network will be changed to the network you just entered by default.

If everything has been entered correctly, you will notice that the balance on the MetaMask will convert from ETH to BNB.With the successful MetaMask setup for Binance Smart Chain, your BNB wallet is now ready to receive deposits of BNB tokens or BEP-20. You can also use it with many fun dApps on Binance Smart Chain including PancakeSwap and others.

Final Thoughts

In conclusion, MetaMask connection to Binance Smart Chain (BSC) allows for a vast array of opportunities for users who seek access to BSC-based decentralized applications (DApps) and decentralized finance (DeFi) services on the BSC network. By following the above-outlined steps, you take the next step towards enjoying these seamless opportunities.