What is Metamask?
Metamask is a digital wallet based on Ethereum. This wallet is for other cryptocurrencies as well as other blockchains. One of these blockchains is Binance, which tokens have BEP20 standards. But how to use BEP20 tokens or Binance Blockchain on Metamask?
Metamask is a digital wallet designed to use payments within decentralized applications. Similarly, it works separately for BEP20 standard tokens for decentralized applications, but we will explain how.
Decentralized applications are systems that use ERC20 or BEP20 standard tokens to support the internal payments of each application. For this purpose, a wallet is needed to be able to provide tokens for these programs. The best wallet in this field is Metamask, which also has many features.
Benefits of Metamask Wallet
Metamask is one of the best e-wallets on the cryptocurrency market. This wallet can be considered one of the safest tools for digital storage. In addition, its interaction with the blockchain is such that it does not include the total loading of the blockchain, so the transaction time on this bag is reduced. However, other advantages include the ability to interact with decentralized applications.
This application is easily accessible only through the browser plugin and you do not need to install any program.
Does Metamask accept BEP20 tokens?
As mentioned, the Metamask wallet works by Ethereum blockchain standards by default. Ethereum Blockchain also supports smart contracts, and some of the smart contracts within the blockchain have been developed to provide Binance synchronization with some decentralized software through contracts. Therefore, this communication channel can be named to support BEP20 tokens in support of the Metamask wallet.
Add custom tokens to the Metamask wallet
To be able to use Metamask Wallet, you need to follow the steps below:
- First, download and install this wallet through the browser plugin.
2. Create an account through it and log in to your e-wallet.
3. By default, the Metamask wallet supports ERC20 and Ethereum standard tokens, but there are a few extra steps you can take to support Binance.
4. From this section, go to the Settings option in the wallet.
5. Select the My Accounts tab.
6. In this section, you will see the options of the network name, New RPC URL, Chain ID, Symbol, and other items that you can set these boxes based on the image below.
7. Then click Save to finalize the settings.
– RPC URLs
– ChainID: Ox61, 97 in decimal (if it won’t work, use 0x61)
– Symbol: BNB
– Block Explorer: https://testnet.bscscan.com
These values for connecting to Binance Mainnet include:
– RPC URLs
– ChainID: 0x38, 56 in decimal (if it won’t work, use 0x38)
– Symbol: BNB
– Block Explorer: https://bscscan.com
Add BEP20 tokens to Metamask
To add BEP20 to Metamask, you must first use an application called Remix.
- Install the Remix app and open it.
2. You will then see the Gist option. Click on it to open a new page.
3. Then enter this address in the Load a gist section: https://gist.github.com/HaoyangLiu/3c4dc081b7b5250877e40b82667c8508
4. Select the Connect option.
5. Next, select Compile ABCToken and let it compile.
6. The Deploy option will then be activated. Click on it.
7. Then the Gas Fee and Total options will be specified for you. You can enter the amount you want.
8. In the next step, by entering the Binance user page, you can see the process of creating your smart contract through Transactions.
9. When this process is complete, go back to Metamask and select Add Token.
10. Select the Custom Token option and enter the address of the smart contract that you created in Binance in the desired inputs
11. And now BEP20 token will be added to your wallet.
Differences between BEP2 and BEP20
Both tokens use Binance standards in some way, but there is a big difference between them. BEP2 tokens are used for Binance Chain and BEP20 tokens are used for smart contracts in Binance. For this purpose, when you want to add a token to the Metamask, try to keep its settings on BEP20.
Metamask is one of the most secure wallets that can be used for decentralized applications. In this article, we learned how to add and use BEP20 tokens on the Binance blockchain to the Metamask wallet. By creating a smart contract, you can add new tokens in the desired standard to your Metamask wallet.