How to Trade Fiat ($USD) From Binance to Metamask
Your Guide To Trading FIAT ( $USD ) From Binance To Metamask
What is Fiat?
- The term refers to currencies like the U.S. dollar that are backed by a government
Why do we need to know how to use Binance?
- Minimal fees
- Large amounts of fiat ($USD)
- Can buy tokens (BNB) used to purchase Spartans tokens
First, Open Metamask and click buy
- Login to website (binance.us)
Double check the URL! Make sure you are actually at the binance.us website.
There are fake sites out there that look the same and look real. Don’t give your money to scammers!
SO ENSURE you log into the official website!
2. Click Wallet
Click Deposit Which Will Prompt You To Deposit From A Checking account transfer or wire transfer.
After you click deposit, its very simple to deposit your money from a checking or wire transfer, into your Binance account.
Now we move onto the next step
3. Buy BNB
Click Buy Crypto
From here, make sure you click and search for BNB which is the crypto you are buying in this tutorial
For demonstration purposes, we are going to be buying $20 in BNB and transferring it to our Metamask Wallet.
Click confirm, then click “Go To Wallet”
Refresh your wallet page once you are on this page to confirm your wallet balance in BNB or any said crypto you bought
4. MOST IMPORTANT STEP: SEND A TEST TRANSACTION
No matter what you are sending, always send a small amount to TEST and ENSURE it’s going to the right place
We’ll be sending a small test amount of BNB ($4 or 0.01BNB as of April 26, 2022) after clicking withdraw via the 3 dots on the far right
Here you will select the amount of coin via BNB you wish to withdraw
For this, we will be doing the smallest amount for the test, which is 0.01 BNB
ENSURE YOUR NETWORK IS ON THE BEP20 ( BSC ) so that it sends via the right network!
Now that we have that set, we are ready to send our test amount to our Metamask Wallet
Open the extension, and click copy on your wallet ID above
ENSURE IT MATCHES by copying and pasting it. DO NOT TRY TO TYPE!
Our screenshot doesn’t show the ENTIRE address we are using, however you will see that in the video above
Now we double check our wallet ID
Do this by checking to make sure the first 4 and last 4 digits MATCH your Metamask Wallet
This way you ensure whatever you are sending from Binance, goes into the Metamask Wallet Address you pasted
From here, we will get a preview of our withdraw
Notice you will have a withdrawal fee as shown above
Sometimes when you are sending crypto or if is your first time, your security settings could prompt you with a message like this
Just open your email and enter the code or click the link to confirm
After you do this, you will be prompted to the order submission page
5. Send the remaining amount ONLY once you’ve confirmed the test amount
As you can see here our Metamask wallet has not received the BNB yet. This can take a few minutes but can also take a few hours.
It really depends on the congestion in the crypto network on how fast it will hit your Metamask wallet
Once you confirm the test amount, you can send the remaining amount following the same steps above
**Remember to ALWAYS Double check the transaction** (could take seconds, minutes, hours )