Moving from Ethereum to Binance Smart Chain

ERC-20 and others to BEP-20 BSC compatible tokens

September of 2020, Binance launched the Binance Smart Chain, an Ethereum-Virtual-Machine compatible smart contract blockchain, and in only 5 months it has surpassed Ethereum in daily transactions. With transactions taking only 5–10 seconds, as opposed to 5–10 minutes, and costing only .05c-.15c each, as opposed to $15+, its no wonder why its seeing such massive growth. Existing smart contracts, and Solidity developers can easily migrate to BSC, and pick up right where they left off. Investors can also “wrap” any of their favorite ERC-20 and other tokens, and use them on Binance Smart Chain. While a few are clamoring for “scaling” solutions for Ethereum, others, like you, have now discovered the problem has already been solved.

Welcome to Binance Smart Chain.

The steps below can be skipped if you have already completed any of them on your own.

Setting up your wallet for Binance Smart Chain You will need to first create a wallet, most begin with MetaMask. From the Google Chrome extension store, search for and install MetaMask Wallet.

Network Name: BSC Mainnet New RPC URL: Chain ID: 56 Currency Symbol: BNB Block Explorer:

Once you have typed that all in, click on save. Now on the wallet homepage, you will be able to use the drop down menu and select BSC Mainnet. You are now on Binance Smart Chain. Keep in mind, all transactions require BEP-20 BNB in your wallet to pay for the gas costs, exactly like ERC-20 ETH on Ethereum.

Getting Money onto Binance Smart Chain

In areas of the world that still have access to, getting your tokens swapped to BEP-20 Binance Smart Chain compatible tokens is very easy. Simply deposit your tokens into your Binance wallet, and when you choose to withdraw, make sure to select BEP-20 BSC as the transfer network option, and your BSC wallet address in your MetaMask wallet.

For Americans’ and others without access to, at the moment it isn’t as easy. Binance.US has not updated their exchange yet to support BEP-20 withdrawals, so we will use a work-around. There are a couple of options like using SafePal Wallet or the Binance Bridge. The first option is much simpler, so let's go over that one first.

SafePal Wallet Click on this link to be directed to your appstore to download SafePal Wallet, Once you have installed the wallet, open it up and import your wallet address that we created earlier on MetaMask, into SafePal Wallet, using your 12-word seed phrase. Once you have done that, you will be presented with the SafePal Wallet hep

Now you can deposit your ERC-20 tokens, or anything else such as BTC/LTC etc. and “wrap” them, to make them compatible with Binance Smart Chain (this can always be un-done if you want to go back). Once you have tokens in your SafePal Wallet, you can then click on the Swap button at the bottom (4th one over), and begin the swap process.

In the “Pay” field, choose the tokens that you want to convert to BSC compatible tokens. In the “Receive” field, make sure you choose BEP-20 BNB. Then go ahead and proceed with the swap. Once completed you will have Binance Smart Chain compatible BEP-20 BNB tokens in your SafePal Wallet.

Once you connected your wallet, choose the “asset” that you are trying to convert, and make sure the “from” and “to” networks are correct. Click on max, and then copy/paste your wallet address from MetaMask, and then you should be able to click on “next”. Binance Bridge will then direct you to send the exact amount of tokens, to a unique wallet address, and once they receive your tokens, they send you back the same amount, but BSC compatible versions. Keep in mind the unique address they give you can only be used once.

Now that you have a mobile wallet that is setup for Binance Smart Chain, and you have some BEP-20 BNB tokens, its now time to explore what Binance Smart Chain has to offer.

PancakeSwap Decentralized Exchange

The largest decentralized exchange is, so go ahead and head over there and you will be presented with the option to “connect” your wallet. That will allow the exchange to see what tokens you have available and allow you to trade them easily.

Jetfuel Finance dApp

Try going to in your wallet's dApp browser, and you will now be able to access the Jetfuel Finance ecosystem.

Your wallet should now be set up, and you should be all good to go.

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