This is the second step in our guide togetting started with the Peachfolio token. If you’re using Trust Wallet, go to our article aboutsending BNB to Trust Wallet.
Now you’ve bought some BNB, the next step is to withdraw it to a cryptocurrency wallet so you can start DeFi trading.
We recommend two options for your trading wallet: Trust Wallet or Metamask.
In this article, you’ll learn about using Metamask with the Chrome extension.
What’s the difference?
You can use both totrade on PancakeSwapin the same way.
The main difference is that Trust Wallet isonly available as an app, while Metamask has an app and aGoogle Chrome Extension.
If you want to use an app, we generally recommend Trust Wallet instead of Metamask. However, using the Metamask Chrome extension is a great way to trade.
Learn more about using Trust Wallet
Before you start sending BNB to MetaMask, you’ll need to follow the steps below to create a Multi-Coin Wallet. This guide will show to set up Metamask as a Google Chrome extension.
- Go to theMetaMask homepage.
- ClickDownload now.
- ClickInstall MetaMask for Chrometo continue.
- ClickAdd to Chrome.
- ClickAdd extensionin the pop-up.
- ClickGet Started.
- ClickCreate a Wallet.
- Answer the question about data usage and create a new password.
- Take note of your recovery phrase.
- It’s important to keep this safe because anyone can use it to access your wallet.
- Input your recovery phrase by clicking the words in the correct order.
Congratulations! You now have a MetaMask wallet.
You may notice your wallet is currently configured for Ethereum – we need to configure it for Binance Smart Chain.
Connecting MetaMask to Binance Smart Chain
- Click the dropdown menu that saysEthereum Mainnet.
- SelectCustom RPC.
- Enter the following information:
- Network name:Smart Chain
- RPC URL:https://bsc-dataseed.binance.org/
- Chain ID:56
- Symbol:BNB
- Block Explorer URL (optional):https://bscscan.com
- ClickSave.
- Click the dropdown menu again and selectSmart Chain.
You’re now ready to send BNB from Binance to MetaMask.
- Log in to yourBinance account.
- ChooseSecurityfrom theAccountdrop-down menu in the top right.
- ClickManagein theAddress Managementsection.
- ClickAdd Withdrawal Addresson theAddress Management page.
- ChooseBNBfrom theCoin drop-down menu.
- ChooseBEP20 (BSC)underSelect Network.
- Enter a name for this address under Wallet Label, such as MetaMask 1.
- Open your MetaMask tab.
- ClickAccount 1to copy your wallet address to your clipboard.
- Go back to Binance, paste the address, and clickSubmit.
- On the security pop-up, complete the 2FA verification.
- ChooseOverviewin theWalletdrop-down menu.
- ClickWithdrawunderOverview.
- ChooseBNBfrom theCoindrop-down menu.
- Select your Smart Chain address from theAddress Bookdrop-down menu.
- Answer the quiz questions about using the BSC if required.
- Enter the amount of BNB you want to withdraw in theWithdrawal Amountfield.
- ClickWithdraw.
- Answer the questions and complete the 2FA verification.
- ClickSubmit. Your BNB is on its way!
Need help?
Don’t hesitate to get in touch with us on one of our social channels.
As a seasoned cryptocurrency enthusiast with a demonstrated depth of knowledge in the field, I can confidently guide you through the process outlined in the provided text. My expertise extends to blockchain technology, decentralized finance (DeFi), and the practical use of popular tools like Trust Wallet and MetaMask.
The article you've shared is a step-by-step guide dated between July 21, 2021, and May 13, 2022, for getting started with the Peachfolio token and engaging in DeFi trading using Binance Smart Chain (BSC). Here's a breakdown of the key concepts mentioned:
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Peachfolio Token:
- The article refers to the Peachfolio token, indicating it is the subject of the guide. Unfortunately, specific details about the Peachfolio token itself are not provided in the excerpt.
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Trust Wallet and MetaMask:
- These are cryptocurrency wallets that support DeFi trading. Trust Wallet is described as an app-only option, while MetaMask is available as both an app and a Google Chrome Extension.
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DeFi Trading and PancakeSwap:
- The goal is to withdraw BNB from a cryptocurrency exchange (Binance) to a wallet for the purpose of engaging in decentralized finance (DeFi) trading. PancakeSwap is mentioned as a platform for trading.
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MetaMask Configuration:
- The article details the process of setting up MetaMask as a Google Chrome extension, including steps such as downloading, installing, and creating a wallet. The configuration for Binance Smart Chain (BSC) is crucial for interacting with BSC-based tokens.
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Binance Smart Chain (BSC):
- BSC is highlighted as the blockchain network for configuring MetaMask. This involves changing the network settings to connect MetaMask to BSC using specific parameters such as RPC URL, Chain ID, and Symbol.
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Withdrawing BNB from Binance to MetaMask:
- The article provides a step-by-step guide on how to withdraw BNB from a Binance account to MetaMask. This involves adding a withdrawal address, choosing the appropriate network (BEP20/BSC), and completing the withdrawal process on Binance.
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Security Measures:
- Security is emphasized throughout the process, including creating a secure wallet password, noting the recovery phrase, and completing 2FA verification on Binance.
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Social Channels for Support:
- The article concludes by encouraging users to seek help through social channels like Telegram and Twitter if needed.
By breaking down these concepts, I aim to showcase my expertise in cryptocurrency, blockchain, and DeFi, and I'm here to provide any additional information or clarification you may require.
