Buying Binance Smart Chain (BSC) NFTs Using MetaMask
Introduction
While the Ethereum network reigns dominant in the world of decentralized applications, its recent spike in gas fees limits its growth.
Enter Binance Smart Chain (BSC).
What is Binance Smart Chain (BSC)?
According to the Binance website, BSC takes the benefits of Binance Chain like fast trading and adds to that smart contract functionality and compatibility with the Ethereum Virtual Machine.
Together, that allows BSC to support projects whose fundamentals were built on Ethereum.
- While Ethereum has Uniswap and SushiSwap, BSC has PancakeSwap.
- Ethereum has Etherscan; BSC has BscScan.
- yEarn is a popular yield aggregator project on Ethereum. Its BSC fork is autofarm.
Major Ethereum Defi platforms already have BSC counterparts, and now we’re seeing a similar movement with NFTs.
If you are already a user of the Ethereum ecosystem, you probably have a MetaMask wallet.
Let’s get that set up to the BSC network.
Connecting Your MetaMask to the Binance Smart Chain Network
1\ Enter Website
2\ Create a Wallet
The first step is to create a separate wallet dedicated to BSC transactions.
Click the profile icon in the top right corner of the MetaMask dashboard. This should bring you a dropdown menu where you can click Create Account.
MetaMask Dropdown Menu
Once you have created a new Ethereum wallet, the next step is to connect to the BSC.
3\ Configure the Wallet
In the same dropdown menu from the previous step, click on Settings.
MetaMask Dropdown Menu
Next, scroll down and click on Networks.
Settings Menu
Once you get to the Networks menu, click Add Network.
That will bring you to a page where you will have to fill the text boxes with the following parameters:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
Networks Menu
4\ Send Funds to Your Wallet
Congratulations, your wallet is connected to the BSC.
All you have to do now is to send BNB or BEP-20 tokens to the wallet and you’ll be ready to buy, sell, and mint NFTs on BSC similarly to how you would on Ethereum.
Conclusion
Switching between blockchains is complicated, but because of the way BSC was created, Ethereum users have it easy.
Most already have MetaMask installed. It only takes a few clicks to get connected to the BSC and reap the benefits of it such as low transaction costs.
Explore.
The potential of BSC is great and the gas fees make it an accessible platform for everyone.
Sources
- An Introduction to Binance Smart Chain (BSC) — https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc
- Connecting MetaMask to Binance Smart Chain — https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
- From Ethereum to Binance Smart Chain — https://defiprime.com/binance-smart-chain
