Binance and MetaMask

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Binance Bridge (Source: Binance Twitter)

Founded in 2017, Binance is now the world’s largest cryptocurrency exchange when one considers trading volume. Indeed, Binance’s trading volume is more than three times larger than its nearest crypto exchange competitor Coinbase Exchange.

In 2019, Binance stated that it was “unable to provide services to any U.S. person" and that it would partner with a U.S. company called Binance.US.

US-based investors trying to access the Binance.com website are now provided the following warning: “Binance is unable to provide services to U.S. users. Binance.US (BAM Trading Services) is a US-regulated cryptocurrency trading platform.”

Binance.US Logo (source: Binance.US)

Binance.US is an online service that offers US-based investors the opportunity to buy, sell, and store cryptocurrencies. In just three years, Binance.US has already become the tenth largest cryptocurrency exchange when one considers trading volume.

How to add Binance Smart Chain to MetaMask?

Adding Binance Smart Chain to MetaMask (source: medium.com)

Binance Smart Chain (BSC) is a blockchain created by Binance. BSC supports Ethereum-based applications like MetaMask. Here is how you can add BSC to your MetaMask account.

Create MetaMask Wallet

First, you will need to create a cryptocurrency wallet to store your Ethereum-based BSC coins and tokens. To create this wallet, go to MetaMask and download a recent version of its software.

Download MetaMask (source: metamask.com)

Next, create your wallet. We strongly suggest that you store your 12-word seed phrase in a safe place. This seed phrase represents the only way that you can recover your funds should your device crash or your browser reset. We strongly suggest that you write it down on a piece of paper and store it safely in a place where only you have access.

Now, your MetaMask wallet is ready to send, store, and receive ETH tokens.

Newly created MetaMask Ethereum wallet (source: medium.com)

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.