How To Set Up A Wallet

Binance Smart Chain Edition

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Last updated 2 years ago

How To Set Up A Wallet

Binance Smart Chain Edition

Information

Setting up and using a crypto wallet is easy, even though sometimes it might not look like it.

First, you need to know that there are multiple wallets available, you're going to have to pick one that suits your needs the most (or you can have all of them, we don't judge; the same seed phrase can be used simultaneously on multiple wallets).

This is gonna take a while, so let's not make it longer.

Wallets for different devices

Desktop:

For desktop we strongly recommend using , and today's step-by-step guide for desktops is going to be based on it.

Mobile:

For mobile you got multiple choices, here are out favorites based on your OS.

Android: iOS:

Trust Wallet currently does not have an integrated browser with the iOS version, therefore you won't be able to access applications from your phone, hence why we recommend different wallets based on your phone's OS.

Step-by-Step Guides

Click on the tab of the step-by-step guide you wish to check out.

Always make sure that you're downloading your wallets from the real source. Psyching websites are known to pay for Google ads and use other malicious ways to persuade you into downloading a fake wallet.

2) Click on "Install MetaMask for browser"

3) Click on "Add to browser"

Once installed it will take you to the page below, if it doesn't simply click on the extension icon and it will redirect you.

4) Click on "Get Started"

5) Click on "Create a Wallet"

6) Choose a password

The password is solely browser-only protection, it does not have any effect on on-chain security.

7) Write the seed phrase on the screen on a piece of paper

8) Confirm your seed phrase

This step was introduced in order to promote the idea of backing up your seed phrase.

9) Congratulations, you now have your own external cryptocurrency wallet!

We are not done yet, so keep scrolling.

We now have to connect to Binance Smart Chain

Unfortunately as of now MetaMask does not offer native integration for Binance Smart Chain, so we will have to take a way that's a tiny bit technical, but don't worry, it just looks hard, it's actually simple.

10) Click on your wallet and click on the rectangle at top where it says "Ethereum Mainnet"

11) Click on "Custom RPC" at the bottom of the list

12) Input the Binance Smart Chain settings

Just copy-paste the ones below.

Network Name: Binance Smart Chain New RPC URL: https://bsc-dataseed.binance.org/ Chain ID: 56 (or 0x38, in case 56 doesn't work) Currency Symbol: BNB Block Explorer URL: https://bscscan.com/

13) That's it, you're done!

You should now be connected to Binance Smart Chain via your own external wallet!

Here are a few things to remember:

The tokens on BSC are BEP-20, so if you want to withdraw tokens to your wallet via an exchange, make sure you withdraw them as BEP-20.
Every transaction on Binance Smart Chain takes BNB as fees for the validators, the same way Ethereum takes ETH. Don't worry, it's cheap.
Sometimes your tokens might not appear in your wallet, that's because MetaMask did not detect them automatically. If that happens to you, just click on "Add Token" -> "Custom Token" and from here input the smart contract address of the token in the "Token Contract Address" tab. MetaMask should automatically pick the symbol and decimals. After that click "Next" -> "Add Tokens" and you're done!
Sometimes your BNB might appear as "ETH" in your MetaMask wallet and MetaMask might calculate the fees in dollars based on Ethereum's price. This is just a slight compatibility issue because BSC is not natively integrated on MetaMask. Don't worry, you're spending BNB not ETH.

That's about it, good luck!

2) Click on "Software Wallet"

3) Since it's the first time you downloaded SafePal, you now have to set up a password

The password is solely phone-only protection, it does not have any effect on on-chain security.

4) Choose a pattern (or don't, up to you)

5) Congrats, you now secured your SafePal App

6) Click on "Software Wallet" again

7) Click on "Create Wallet"

8) Input the password you set at Step 3

9) Choose a wallet name

The wallet name has no effect on-chain or anywhere else besides on your phone. It'll make it easy for you to know on which wallet you're using if you plan on having multiple.

10) Congrats, your wallet is now created, but now let's back up your seed phrase

11) Click on "Back up my phrase"

12) Write the seed phrase on the screen on a piece of paper

13) Verify your seed phrase

This step was introduced in order to promote the idea of backing up your seed phrase.

14) You're done! Welcome to your own cryptocurrency wallet

Bad day to take that screenshot, haha.

Here are a few things to remember:

The tokens on BSC are BEP-20, so if you want to withdraw tokens to your wallet via an exchange, make sure you withdraw them as BEP-20.
Every transaction on Binance Smart Chain takes BNB as fees for the validators, the same way Ethereum takes ETH. Don't worry, it's cheap.
Your SafePal wallet contains your address on multiple blockchains such as: Bitcoin, Ethereum, Binance Chain, and Binance Smart Chain. Since you're here because you want to participate on BSC, your BEP20 wallet is the "BNB (BEP20)" one. Always copy that address for any incoming transaction to your wallet such as withdrawing cryptocurrency from an exchange.
In order to access applications on the blockchain you will need to do that from a special browser, that "special browser" is the middle icon on the bottom menu. It works just like a regular browser, but it allows you to connect your wallet to different applications.
Some applications still haven't included SafePal to the list when you connect your wallet to it, simply click on "Trust Wallet" and it'll work just fine.
Sometimes certain tokens you own might not appear in your wallet, if that happens to you simply click on "Add" and search the token name on the search bar at the top; if the token you want to add doesn't appear paste its smart contract address in there.