Getting Started On-Chain
Last updated
Last updated
This is a step by step video on setting up your wallet and buying BNB on Binance.com. You can also search on google for places to buy BNB on binance smart chain in your area if binance is not available.
Whether you're BSC Veteran or a New Crypto Investor, we will walk you thru the process from start to finish to introduce you to our Ecosystem here at LOF!
Pancakeswap.finance is a Decentralized Exchange (DEX) where most BSC Projects host their initial liquidity for trading. To buy here you need a BSC Compatible wallet, we recommend Metamask.
Download Metamask at Metamask.io
Create an account, NEVER SHARE SEED WORDS. Keep these stored in a safe place, OFF your phone preferably in a safe that only a beneficiary can get access to, heaven forbid anything happens to you.
Repeating for safety. NEVER SHARE YOUR SEED WORDS OR PRIVATE KEY, ESPECIALLY ON TELEGRAM.
Tap three lines in top left corner then open settings
Select Networks then Add Network
Paste this information
Network Name - Binance Smart Chain
RPC Url - https://bsc-dataseed.binance.org/
Chain ID - 56
Symbol - BNB
Block Explorer - https://bscscan.com
Hit Save and Exit back to Wallet Screen
Tap "Wallet" word in top center and select Binance Smart Chain
Tap Top Left three lines then select Browser
Download Metamask at Metamask.io
Open Trustwallet, go to settings
Go to Wallet, Tap "i"
Show Recovery Phrase
READ THE WARNING, then Continue, Copy Seed Phrase
Select Import Secret Recovery Phrase on Metamask
Paste Seed Words and Continue
Tap three lines in top left corner then open settings
Select Networks then Add Network
Paste this information
Network Name - Binance Smart Chain
RPC Url - https://bsc-dataseed.binance.org/
Chain ID - 56
Symbol - BNB
Block Explorer - https://bscscan.com
Hit Save and Exit back to Wallet Screen
Tap "Wallet" word in top center and select Binance Smart Chain
Tap Top Left three lines, then select Browser
Binance Smart chain requires BEP-20 BNB to pay for fees on the chain called "Gas". Think of it like the gas needed to propel your transaction from Point A to Point B, just like your vehicle, unless you drive an EV! Obtaining BEP-20 BNB varies by location, but the primary source would be the Worlds Largest Crypto Exchange, Binance. If Binance isn't available to your region/state, check Coingecko for exchanges that you can use! Make sure to only send BEP20 BNB to your wallet address!
Register an account at Binance.com or Binance.us for persons located within the US.
Buy BNB using debit card or bank information
Go to Wallet and select Withdraw BNB
Select BEP20 (Smart Chain)
Open Metamask, Open Wallet Tab, Select Wallet Number to Copy
Paste In Wallet Address bar, Verify First 4 and last 4 wallet characters are same as characters in metamask
SEND SMALL TEST AMOUNT OF BNB IF NOT SURE
Confirm Transaction
Wait for funds to show up in metamask!
and more
The link above is a how-to guide directly from Binance themselves, lots of great information on https://academy.binance.com/ for beginners!
NEVER SHARE YOUR SEED WORDS WITH STRANGERS
NOBODY FROM LOF WILL EVER NEED OR ASK FOR YOUR SEED WORDS. EVER.
Store your seed words somewhere safe, preferably hand written in a safe or lockbox that only you or a beneficiary could ever access. These words are the keys to your castle so to speak.