Binance Crypto exchange Coin (BNB) is a digital currency made by our trending digital currency exchange Binance Crypto exchange. What numerous digital currency investors do not know is the fact that it’s possible to buy BNB on MetaMask, and interact with decentralized applications on the BNB Chain using the wallet.
BNB uses its own set of technical standards: BEP-2, which is the original crypto token for the Binance Crypto exchange Chain, and BEP-20, in particular made for the decentralized BNB Chain ( previously Binance Crypto exchange Smart Chain (BSC).
MetaMask, on the other hand, is one of the world’s most trending digital currency wallets, designed for storing digital currency coins, crypto tokens, and Non-Fungible Token (NFTs), and likewise GameFi assets. It likewise allows users to access and explore dApps (decentralized applications) co-existing in the Web 3.0 world.
Most people, on the other hand, associate MetaMask with Ethereum (ETH) and forget about the wallet’s support for the BNB Chain, and that you can buy BNB with MetaMask.
How to Buy BNB Using MetaMask
The 1st step is to have MetaMask installed. It can be used on your desktop or on your mobile device. You can download it by visiting MetaMask’s official website or through the Chrome Web Store. Be careful with the download, as there are often forgeries out there attempting to trick users. Only download from the official sources.
Here are the steps to follow once downloaded:
- Run MetaMask and click on Create Wallet.
- The application will provide you with a seed phrase, which works like a password that will give you access to your account, so you need store it somewhere safely (preferably off the internet).
- By default, MetaMask is set to the Ethereum (ETH) blockchain tech. To change it, go to settings, and select the BNB network.
- Click on Approve to add the network, and you’re ready to go.
Once your MetaMask wallet is set this is why, you can explore the dApps on the BNB ecological system. On the other hand, you must the BNB 1st to make purchases and pay for gas fees.
To buy BNB directly from MetaMask, you will have to use the third parties provided. In this case, we can use Transak, which supports credit/debit cards, bank transfers in 100+ countries, Apple Pay and MobiKwik. The Second option is to use MoonPay, which supports credit/debit cards, Samsung Pay, and supports bank transfers in over 145 countries.
Let’s use Transak as an example. You’ll be redirected to a new page in which you will have to enter the amount of cash to deposit and the payment method. In the end, check the charges, and click on Buy Now, and proceed with your payment method. Once done, the BNB will be deposited directly into your MetaMask wallet.
Other Ways to Transfer BNB to MetaMask
Unfortunately, Binance Crypto exchange isn’t available in all jurisdictions worldwide. In the United States alone, there are a handful of states including Texas, Vermont, New York, and others in which Binance Crypto exchange doesn’t operate owing to regulatory hurdles.
Nonetheless, we can use a different cryptocurrency exchange like Coinbase Crypto exchange to buy BNB and other digital currencies using credit cards, cryptocurrency transactions, PayPal, and other methods. The following step would be to transfer your BNB funds to your MetaMask wallet.
Likewise read: How to Transfer From Coinbase Crypto exchange to MetaMask
To do so, go to your MetaMask wallet and copy the BNB address corresponding to your account. Paste the address into the exchange from which you are sending and click Send.
Closing Thoughts
As you can see, it’s fairly easy to buy BNB directly from MetaMask. If your current location is not supported by Binance Crypto exchange, there is a workaround you can try by just using a different exchange and sending the funds to your BNB address from MetaMask. In general, the steps are very simple:
- Install MetaMask and establish BNB Chain as your default network in Settings
- Click on Deposit and choose the available third parties
- Fill in the boxes and information required to proceed with your purchase
- The BNB funds will be deposited into your account
Remember to keep your seed phrase stored somewhere safe, preferably offline, to avoid potential dangers of hacks and other cyber-attacks.
Frequently Requested Questions
Is Binance Crypto exchange Available Across the US?
Although while Binance Crypto exchange is one of the leading exchanges universally, it’s not available for all United States residents. Binance Crypto exchange United States is the regulated branch of the exchange, but it comes with limited capabilities and features.
What Happens if I Lose My Seed Phrase?
A seed phrase is a string of words generated by a wallet, in particular made for you. Losing your seed phrase means losing access to your account, and, this is why, your funds. No one else has access to the phrase, meaning the funds will be unrecoverable.
What is the Difference Betwixt Binance Crypto exchange Chain and BNB Chain?
Binance Crypto exchange Chain is Binance’s centralized network that processes transactions, such as trades, swaps, p2p lending, etc, while BNB Chain is a decentralized blockchain tech with an ecological system where protocols of Decentralized Finance and developers can launch their projects/dApps
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