How to send bnb smart chain from trust wallet to binance
What is Binance Smart Chain?
Binance Smart Chain (BSC) is an EVM-compatible network , forked from “go-ethereum”. It supports smart contracts and relies on a new consensus mechanism: Proof-of-Staked Authority (PoSA) consensus (“Parlia”) , which incorporates elements from both Proof of Stake and Proof of Authority. The Binance Chain community launched BSC in time for the DeFi (decentralized finance) revolution, as the public shows increased interest in alternative financial solutions powered by blockchain.
In simple terms, it is a blockchain that runs in parallel with Binance Chain. BNB is used for delegated staking on the authority validator, leading to staking rewards for users and validators. BSC is live on mainnet, ready to be tested and piloted by some of the top projects in the crypto industry, is expected to greatly increase the utility of both Binance Chain and BNB.
Trust Wallet Supports Binance Smart Chain
Immediately after BSC mainnet was launched, Trust Wallet added support for the network. You can already send and receive BNB using your Smart Chain address. Just make sure to install the latest update available for your device. There will be a lot of exciting features that will soon be enabled within the app to support BSC, so stay tuned.
For now, we will show you how you can easily move your BNB tokens on Binance Smart Chain.
Receiving BNB on BSC
As of the moment, there are only 2 ways to get BNB on your Smart Chain address:
- Receive BNB from another Trust Wallet user
- Withdraw to a BSC address from Binance.com
The first one is self-explanatory, so we will focus on the second option. You can already withdraw your BNB from a Binance exchange account to your Trust Wallet Smart Chain address. Here is the official announcement.
Get the Smart Chain address
Search for Smart Chain and enable it on the app. Then, tap on Receive to see the address. Tap on Copy to save the address on your device clipboard.
Withdraw BNB to BSC
On your Binance account, open your BNB wallet then tap on Withdraw. Select BEP20 as the Network. Indicate the amount and complete the steps to withdraw.
Wait for the exchange to process your request. Once it is confirmed, you will immediately receive BNB to your Smart Chain address.
Sending BNB from a Smart Chain address
BNB that is on your Smart Chain address can only be sent to another Smart Chain address. Please make sure that you are sending to a Smart Chain address so that the funds are #SAFU. There will be no issues sending BNB to a Trust Wallet user, as it is fully supported. But in case you want to trade your BNB, for now, you can send them to your Binance account.
Here is the procedure:
Get the Deposit Address on Binance
You need to select the BEP20 Network for the BNB Deposit address and then Copy the address.
Prepare to send BNB
Open your Smart Chain wallet on Trust Wallet and then tap on Send. Fill up the details, put the BSC Network address and the amount. Tap on Continue.
Double check the transaction before you hit Send. The BNB tokens will be sent out right away.
Wait for Confirmation
Since you are sending BNB to an exchange, there will be a required number of confirmations before your deposit is shown. If you have correctly put the right deposit address then you are good to go.
How to Check BSC Transactions?
BscScan, the block explorer for Binance Smart Chain (BSC) was created by the Etherscan team, and it supports both BSC mainnet and testnet. It has many features that is similar with Etherscan.
Medium – 3 Sep 20
BscScan.com: The Binance Smart Chain Block Explorer
Say hello to BscScan.com, the block explorer for Binance Smart Chain (BSC)!
Reading time: 2 min read
What Happens Next?
Binance Smart Chain communities are looking to add functions such as token issuance and transfer, BNB staking, and dApp creation and usage. Trust Wallet will always be in the forefront of the every development of BSC. Please stay tuned!
Here’s how you can get set up on Trust Wallet and start using BNB Smart Chain in just a couple of minutes.
Setting up your wallet for BNB Smart Chain
1) Download Trust Wallet here. If you already have Trust Wallet, make sure your app is up to date.
2) Complete basic setup of a multi-coin wallet. Remember to save your backup phrases.
3) Go to your Smart Chain wallet and press receive to find your address.
4) Deposit BEP20 assets to your wallet. The easiest way to do this is with Binance. Choose an asset on Binance that supports BEP20 withdrawals and withdraw to your Trust Wallet BNB Smart Chain address. Keep in mind that BNB is required to make any transactions on BNB Smart Chain.
5) That’s it! You’re ready to start using BNB Smart Chain.
6) Once you’ve received a BEP20 token, to view your transaction ID you can click on the transaction, press the share button in the top right and then copy the transaction ID.
Using BNB Smart Chain Dapps
7) For this part, iOS users will need the Dapp browser, which you can get by following this guide. Android users have the Dapp browser by default.
8) Once you’ve topped up your wallet, open the Dapp browser by pressing on the four squares at the bottom of the app.
9) Navigate to a BNB Smart Chain Dapp like PancakeSwap or BurgerSwap.
10) Use the Dapp and have fun!
Here are some more detailed guides on how to interact with BNB Smart Chain Dapps with Trust Wallet:
Learning how to access BNB Smart Chain is one of the easiest ways to interact with cryptocurrencies and DeFi projects. Trust Wallet is a great way to do it outside of a desktop browser, and it only takes a few minutes to set up.
The Trust Wallet app is a mobile crypto wallet that doesn’t require registration. It’s available for iOS and Android users. Once installed, you can easily connect your wallet to DApps, including PancakeSwap, SushiSwap, and Beefy Finance.
Trust Wallet isn’t just for BSC either. It also supports the Ethereum, POA Network, and Callisto blockchains, to name a few. In this guide, we will use PancakeSwap as an example, but the process is pretty much the same for most DeFi platforms out there.
Installing and setting up Trust Wallet
1. First, head to the Trust Wallet website and click the link for your desired OS.
2. Install the app according to your specific device. After opening Trust Wallet, go ahead and click [Create a new wallet].
3. You’ll now see a seed phrase. It acts as a recovery password in case you lose access to your mobile device or wallet. Keep a copy of it in a secure, secret place.
4. After clicking [Continue], you’ll be asked to repeat your phrase in the correct order. This step is to ensure that you have copied or written down your seed phrase. Once you’ve input the words in the right order, click [Continue].
5. You now should have successfully set up your crypto wallet, and you’ll find yourself on the [Wallet] tab.
Depositing BNB into Trust Wallet
To use BNB Smart Chain (BSC) DApps, you will need some BNB to pay your transaction fees. Every time you send tokens using BSC or interact with smart contracts, you’ll have to pay some gas.
1. To use your BNB BEP-20 tokens for gas, your tokens must be sent using the BEP-20 transfer network. If you are withdrawing from Binance, make sure to choose the [BEP-20 (BSC)] option on the withdrawals page.
2. To deposit your BEP-20 BNB, open up the [Wallet] tab on Trust Wallet and click [Smart Chain]. Do not click [BNB]. This option is for BEP-2 BNB on BNB Chain and cannot be used to pay transaction fees on BSC.
3. Click the [Receive] button to find your deposit address. You can then copy and paste this address into your withdrawing wallet or scan the QR code.
Adding new tokens to your Trust Wallet list
After installing Trust Wallet, your default list of tokens and crypto is quite small. For example, let’s suppose you want to add CAKE to your list to make it visible in your Trust Wallet.
1. Open the [Wallet] tab and click the icon in the top right corner.
2. Search for the token you want to add to your list and click the toggle button, so it turns green. In this example, we’re adding CAKE (BEP-20), which is PancakeSwap’s token on BNB Smart Chain.
3. Done. You’ll now see CAKE on your [Wallet] tab and any balance that you might have.
Connecting Trust Wallet to PancakeSwap
There are a couple of ways you can connect your wallet to PancakeSwap and other DApps. You can either connect through the Trust Wallet mobile browser or on a desktop. Both offer the same functionality, so it comes down to your preference.
Connecting with the Trust Wallet browser
1. If you’re using the Trust Wallet DApp browser, head to the PancakeSwap website and tap the [Connect] button in the top right corner.
2. Select [Trust Wallet] to connect your wallet to PancakeSwap.
3. If you have connected successfully, you should see your wallet ID in the top right corner.
Connecting with a desktop browser
1. Head to the PancakeSwap desktop website and click [Connect] in the top right corner.
2. Click [WalletConnect] to start the connection process. Currently, the [Trust Wallet] button only works when using the Trust Wallet browser.
3. A QR code will appear, which is scannable with the Trust Wallet app. Head to the [Settings] of the app tab and click [WalletConnect]. Scan the QR code displayed on PancakeSwap and click [Connect] in Trust Wallet.
4. If you have successfully connected, PancakeSwap should show you the beginning of your wallet ID in the top right corner.
Trust Wallet is one of the most popular mobile apps to use and has a vast range in the blockchains and tokens it supports. It also acts as a gateway into NFTs and the whole DeFi ecosystem, so getting to know your way around it is important. The steps outlined above apply to other DApps as well, so once you’ve got this down, you’re really good to go.