BSC Onboarding Guide

To interact with Karma (KRMA) and other decentralized applications (DApps) on the Binance Smart Chain (BSC), you will first need to create a wallet compatible with the Smart Chain network. There are various ones to choose from, however, we personally recommend MetaMask for both desktop and mobile use for the best experience. Some of you may already be familiar with MetaMask, as it is the primary wallet used to interact with applications on the Ethereum network. In order to make MetaMask compatible with the BSC mainnet, you will need to add it as a custom network and can find step-by-step detailed instructions on how to do so below.

Install the Metamask Extension from the Store

Install the Metamask Extension from the Store

Visit the Google Chrome browser extension marketplace (or App Store for mobile users) and download the MetaMask extension.

Create a MetaMask Wallet or Import One

I’d suggest creating a new one if you haven’t done so. Click import wallet if you have an existing wallet.

Setup your password and secret recovery phrase somewhere safe. If you lose these and can no longer access your account from the original device, you may be unable to recover your wallet and funds.

Setup MetaMask to connect to BSC Mainnet

Switch the connected blockchain by clicking on the tab saying Main Ethereum Network, we need to add the Binance Smart Chain network.

Scroll down until you find Custom RPC.

Enter in the BSC mainnet details as follows:

Network Name: BSC Mainnet

New RPC URL: https://bsc-dataseed1.binance.org/ or https://bscdataseed2.binance.org/

ChainID: 56, or 0x38 if 56 doesn’t work

Symbol: BNB

• Block Explorer URL: https://bscscan.com/

Click Save.

You have now connected to the BSC mainnet with your Metamask Wallet.

Using BSC and storing BEP-20 tokens

Congrats! You now have a BSC configured MetaMask wallet. You can now store your BEP-20 tokens and connect your MetaMask wallet to DApps on the Binance chain. Here’s how:

1. Drop down networks and choose BSC Mainnet.

2. (Optional) For your own convenience you can create a new wallet just for BSC. You can add and manage all BEP-20 tokens from this account.

By default you’ll only have BNB added to your account. To add a new token follow the steps below.

Note: You are on BSC network and you can only add BEP-20 tokens and not ERC-20.

To add a BEP-20 token click on add token >> choose a custom token and then enter the token contract address.

You can find the full list of BEP-20 tokens and their contract details on https://bscscan.com/tokens

Now from your Binance exchange account you can withdraw coins and tokens as BEP-20 to your MetaMask wallet. It is important to differentiate the network destination address of the wallet where you intend on sending your coins, as there are 2 commonly used networks. For wallets using the Binance Chain, these should be sent as a BEP-2 token. On the other hand, wallets using the Binance Smart Chain (BSC) should have these sent as BEP-20 tokens. Sending through to the incorrect chain can potentially cause you to lose your funds.

Note: Since all these tokens are built on Binance smart chain you’ll need BNB to cover gas fees. It’s just like how you need ETH to transfer ERC-20 tokens. Instead of ETH you’ll have to use BNB as Gas fees. There are two places where I recommend getting Binance Coin (BNB) by exchanging other cryptocurrencies if you don’t already have some. They are directly through binance.com (non-US residents) or binance.us (for US residents) and simpleswap.io. SimpleSwap is not a centralized exchange and does not require any sign up or KYC. It also has a variety of different coin pairs, which makes it a great option to use.

Here you can find the current gas price and gas limit that is being used on BSC: https://bscscan.com/charts.

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