As you learn more about crypto and NFT games, you will find that the MetaMask wallet is the key to working with game-specific coins and currencies. This guide will show you how easy it is to transfer Binance Coins (BNB) from Binance to MetaMask using Binance Smart Chain.
There are a few key concepts and tutorials that we will explain in detail:
If you have any questions about this topic or just want your opinion, please comment below at the bottom of this guide.
Before we get into the specific instructions on how to transfer BNB from Binance to MetaMask, let’s explain a few key concepts in layman’s terms for you to understand.
What is Binance and Binance Coin (BNB)?
Binance is one of the largest crypto exchange (if not the largest) in the world by daily trading volume. Anyone in the world can use Binance to buy and sell cryptocurrency quickly and easily by connecting their bank accounts, credit cards, and other accounts online.
One of the main reasons Binance is so popular is the sheer number of cryptocurrencies it supports on the exchange. As of November 2021, there were over 500 currencies listed on exchanges, including all major:
- SHIBA INU
Binance also operates its blockchain that hosts Binance, BNB. BNB is optimized for fast trading, allowing you to convert your cryptocurrencies faster to the Binance network.
Binance incentivizes users to trade with BNB, offering certain benefits to those who do:
- Users can save 25% on all spot and margin trading fees.
- Users can save 10% on all futures trading fees
- BNB users have access to Initial Exchange Offerings (IEOs) when new currencies are launched on the network.
- BNB holders are also eligible for Binance VIP programs and other special benefits.
Many cryptos and NFT gaming sites have adopted BNB as their default gaming currency with these advantages. This is the currency you transfer to a specific in-game currency.
The reason why BNB performs so well is because of the Binance Smart Chain.
What is Binance Smart Chain?
Binance Smart Chain (BSC) is a basic blockchain that Binance Coin uses for its transactions. BSC allows developers to quickly build crypto games, NFTs, and other decentralized applications. BSC is optimized for smart contracts, which are the terms and conditions of all transactions in all crypto games.
Crypto gaming wallets, such as MetaMask, can be configured to connect to the BSC. Then you can transfer Binance BNB currency to MetaMask and quickly convert it to in-game currency in any game you play.
BEP-20 Token Standard
BEP-20 is the standard used by BSC. Think of it as a token model that defines how it can be spent, who can spend it, and other usage rules.
If you see crypto games that talk about using the BEP-20 token standard, that means your currency is BSC compliant.
What is MetaMask?
As suggested earlier, MetaMask is a cryptocurrency wallet that allows you to securely store cryptocurrencies. Works as a web browser extension for Chrome and Firefox and a mobile phone app.
MetaMask allows you to connect to crypto games and ensures that you are in sync with the game blockchain.
By default, MetaMask connects to the Ethereum blockchain, which hosts thousands of Ethereum-based tokens. However, you can also connect MetaMask to Binance Smart Chain (BSC). It requires a few extra steps, which is why we created this guide.
For the rest of this article, let’s assume a few things:
• You already have an active Binance account and have purchased BNB currencies.
• You have already installed your MetaMask wallet. If you don’t already have one, here’s a guide on how to sign up for MetaMask and get started.
So, to transfer BNB currency from Binance to MetaMask, you need to do two main things:
1. You need to log in to Binance Smart Chain.
2. Then, you can send BNB to MetaMask quickly and easily.
Let’s connect your wallet with MetaMask cryptocurrencies to BSC to get started.
How to Connect to Binance Smart Chain
To transfer the BNB symbol to MetaMask, you need to connect your MetaMask wallet to Binance Smart Chain.
Step 1: Open the MetaMask browser extension, click on your avatar in the top right corner, and select Settings.
Step 2: Click the Network tab on the left side of the settings page.
Next Step: Click Add Network in the upper right corner. An empty network will be added to the list.
Step 4: To add Binance Smart Chain, we need to enter information that tells MetaMask where to go to connect to the network. Enter the following information:
- Network name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ID: 56
- Symbol: BNB
- Scanner URL: https://bscscan.com
Step 5: When finished, click Save.
Step 6: Go back to the main MetaMask dashboard and make sure the Binance Smart Chain is selected.
Now that you are logged in, you can transfer BNB from Binance to MetaMask.
How to transfer BNB from Binance to MetaMask
This tutorial shows you how to quickly and easily transfer BNB coins from Binance to MetaMask.
Copy your BNB address into MetaMask.
In the BNB section of the MetaMask dashboard, hover your cursor over the account address and click on it to copy the address to the clipboard.
Withdraw BNB on Binance
Log in to your Binance account. Navigate to wallet> Fiat and Spot from the top menu to see all of your cryptocurrency balances. In BNB, click Withdraw.
In the Address box, enter the address of the wallet you copied from MetaMask. Make sure your network is configured for BSC Binance Smart Chain. Set the amount you want to send and click Withdraw.
And that’s all! It will take a few minutes for your BNB to appear in your MetaMask wallet.
If you see your BNB cryptocurrency in your MetaMask wallet, it means it was successfully transferred from Binance to MetaMask. Note: always send a little portion to test it first before you send the rest.
If you want to convert your BNB to in-game currency, you can do so from the MetaMask Swap screen.
Haley Hayward is an experienced writer at gblogo.com, where she’s credited with more than 200 articles covering everything from entrepreneurial stories to mental health at work.
She also oversees the Comment&Questions, which poses important admission questions to experts in the field, and regularly hosts webinars on various aspects of the business school experience.
Prior to joining gblogo.com, Haley honed her skills as a freelance writer, tackling a wide array of topics from petcare to car maintenance.
Haley holds a Master’s degree in English Literature from the University of Edinburgh, Scotland.