Binance Smart Chain (BSC) has been booming with activity. Ranging from token swaps to decentralized money markets and cute NFTs, there are many options to earn yield or simply to have fun.
But what do you need to get started, and how do you do it? We’ll go through it all in this article.
That article can give you a walkthrough of the mechanics of the blockchain, while this one will provide practical information about how to get started. So let’s dive in.
Binance Smart Chain (BSC) wallets
First things first, you’ll need a wallet to interact with the applications on BSC. The good news is that you have quite a few options to choose from.
It’s worth keeping in mind that this isn’t an exhaustive list. In addition to the ones mentioned below, you can also use Math Wallet, Ledger, TokenPocket, Bitkeep, ONTO, Safepal, and Arkane.
But wait, isn’t MetaMask an Ethereum wallet? It is, but actually, it’s quite easy to connect it to BSC. This way, you can use a familiar UI when interacting with BSC.
Trust Wallet is one of the easiest mobile wallets to use, so if you’d like to use BSC from your pocket, it’s among the best options.
Binance Chain Wallet
Binance Chain Wallet is another option that you have for certain apps on BSC. You can get it as a browser extension for Chrome, Firefox, and Brave. It’s easy to use and has a slick UI.
How to get crypto to Binance Smart Chain (BSC)
So, now we have plenty of wallets to choose from, but how can we move funds to the chain? We can withdraw from our Binance account or use the Binance Bridge.
Before we go further, however, it’s important that we clear up some conceptual background.
Withdrawing from Binance
Chances are if you’re reading this, you already have a Binance account. The easiest option may be to simply withdraw from your Binance account to a BSC wallet.
Just make sure to select Binance Smart Chain (BEP-20) when withdrawing funds to your external wallet.
Binance Smart Chain (BSC) dApps
So, now we’ve got a wallet, and we’ve transferred some funds to it. What can we do with our magic internet money? Let’s take a look at some of the most popular decentralized applications on BSC.
While the AMM is at the core of PancakeSwap, there’s much more you can do. You can also take part in the lottery, win NFTs, participate in token sales, compete for spots on the leaderboard, and more!
However, it aims to allow for much more in the future, such as the creation of synthetic assets collateralized by liquidity pools, as well as lending and on-chain derivatives.
How to track Binance Smart Chain (BSC) metrics
If you’ve been involved with DeFi at all, the site may look a bit familiar. It looks and feels very much like EtherScan – that’s because it’s made by the same team that made EtherScan.
Binance Smart Chain has seen some significant development and user activity, and it’s only bound to increase in the future.