Introduction: MetaMask wallet
MetaMask is a crypto wallet established primarily for Etherum network purposes. Today, it is also one of the most used wallets on the Binance Smart Chain (BSC) network. Meta Mask is a very effective tool for decentralized applications such as SPY Token. It is available as an extension for Google Chrome, Firefox and now also for Microsoft Edge.
This guide will guide you through setting up your MetaMask wallet for Binance Smart Chain. The first step is to install the extension in your web browser:
Install the MetaMask extension
- Let’s start by installing the MetaMask extension in the browser. In our case, we will use Google Chrome, but the process is similar for other browsers. Download links can be found above.
2. After successful installation, the MetaMask welcome screen will appear. Click on the extension and then on the pin next to MetaMask. This will ensure that you will always find MetaMask in the upper right corner of your browser.
Create a recovery phrase and set a password
We continue with the renewal phrase (often referred to by the English term “seed”). Seed is used to recover your wallet if, for example, you lose access to your computer. The first part shows the generated seed. Keep it in a safe place and never share it with anyone. In the second part of the seed phrase, confirm – the order of the words is important.
MetaMask connection with Binance Smart Chain
To add a Binance Smart Chain, you will need the following Binance Smart Chain parameters (Mainnet):
- Network Name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- Chain ID: 56
- Currency Symbol: BNB
- Block Explorer URL: https://bscscan.com
4. Open MetaMask and click on the Etherum Mainnet to expand the list of networks. Then click on Custom RPC.
5. A form will appear in which you can overwrite the parameters of the Smart Chain Binance network (see above).
6. After successfully adding a network, you can close the window by clicking on the cross at the top right.
7. The Binance Smart Chain network should be set up. Verify that it is active by clicking on the list of networks.
Binance Smart Chain (BSC) address display
8. Under the heading Account 1 is your BSC address. Click on the 3 dots to the right of the title.
9. Clicking View in Explorer will open a new window with details about your address on BSCscan.com.
BscScan allows you to view and explore any address, transaction or token on Binance Smart Chain. In the upper left corner is your address, which you can copy to the clipboard by clicking on the button on the right.
Where to go next: Transfer BNB from Binance to your wallet
The next step for passive income on the SPY Token platform is to transfer the BNB token purchased on Binance.com to your newly created virtual wallet.