What is MetaMask? What can you do with it? Can you swap ETH for BNB on MetaMask? One of the biggest benefits of MetaMask is that it allows you to swap various crypto tokens right from the wallet itself. So, you don’t need to use any exchange services just to swap your crypto assets on the MetaMask wallet. There’s a dedicated option for you to swap your crypto assets, so you just need to use this option to turn your ETH into other crypto assets.
How to swap tokens on MetaMask? After logging into your MetaMask wallet, you can see your wallet balance. There are also three primary options you can choose, which are ‘Buy’, ‘Send’, and ‘Swap’. Choose the ‘Swap’ option if you want to swap your crypto assets to different cryptocurrencies. You can see the list of crypto assets you have, along with the latest transaction activities you have done in this wallet.
Swapping ETH for BNB on MetaMask – Is It Possible?
MetaMask is the crypto wallet that allows you to store your crypto assets in a secure and private environment, and the wallet app is available for web browsers and mobile devices. MetaMask uses Ethereum Mainnet as its primary network, meaning that you can store ETH (Ether) on this wallet by default.
With MetaMask, you can do much more things than just storing your crypto assets. You can also swap your crypto assets to various other tokens right on the MetaMask wallet itself, and it supports various tokens you can swap.
So, is swapping ETH for BNB on MetaMask possible? No. At the moment, you can’t swap ETH for BNB on the MetaMask wallet by default, as Binance Coin (BNB) is not one of the default tokens available for swapping on MetaMask.
Steps to Swap ETH for BNB on MetaMask
How can you swap ETH for BNB on MetaMask? You can do it by using the Binance ETH Wallet. Here’s the step-by-step guide you can follow:
Step 1. Sending ETH from MetaMask to Binance:
- First, log into your Binance wallet account and click on the ‘Deposit’ option.
- Copy the receiving address on your Binance wallet account. You will use this address to receive the ETH you will send from MetaMask.
- Next, log into your MetaMask wallet account by entering your login information.
- Select ‘ETH’ and click on the ‘Send’ option.
- On the receiving wallet, you will need to enter the receiving wallet address you have just copied from Binance.
- Then, select the amount of ETH you want to send to Binance and click ‘Send’.
- You should receive the same amount of ETH on your Binance account.
Step 2. Swapping ETH for BNB on Binance:
- Now, you have received the ETH transfer from your MetaMask wallet to your Binance wallet. Next, you will need to swap your ETH for BNB on Binance.
- Select the ‘Convert’ option and convert your ETH to BNB by entering the amount you want to convert.
- You will receive the amount of BNB you have converted into your Binance wallet account.
Step 3. Adding Binance Smart Chain to Your MetaMask Wallet
- On your MetaMask wallet, click on the ‘Network’ option (the one with the ‘Ethereum Mainnet’ option) and click on ‘Add Network’.
- You will need to add the Binance Smart Chain network information, which will allow you to receive BNB on your MetaMask wallet.
- Next, fill in the information about Binance Smart Chain. First, fill the ‘Network Name’ parameter with ‘Smart Chain’. Fill the ‘New RPC URL’ parameter with ‘https://bsc-dataseed.binance.org/’. Next, fill the ‘Chain ID’ parameter with ‘56’. Fill the ‘Symbol’ parameter with ‘BNB’. Then, fill the ‘Block Explorer URL’ parameter with ‘https://bscscan.com’.
- After filling all the information above, you can click on ‘Save’ to finish your configuration. Congratulations! You have added Binance Smart Chain to your MetaMask wallet. Now, you can receive BNB (Binance Coin) in your MetaMask wallet.
Step 4. Sending BNB from Binance to MetaMask
- On your MetaMask wallet, click on the three dots and choose ‘Account Detail’. You will see the QR code displaying your MetaMask wallet’s receiving address. Next, you need to copy this receiving address.
- Go back to your Binance wallet account and click on ‘Send’. Choose the ‘BNB’ token and the amount you want to send.
- Paste the MetaMask receiving address you have copied and click on ‘Send’.
- Congratulations! You have sent your BNB token from Binance to MetaMask.
That’s it! You have learned how to swap ETH for BNB on MetaMask. You can follow these steps to swap your ETH to BNB on MetaMask, as you can’t do it by default on the MetaMask wallet. After following the steps, you can have your BNB assets listed in your MetaMask wallet.