Rachel Willy Are you finding out what is the best possible and simplest way to turn Bnb on Metamask into Fiat? This problem of switching Bnb in and out of the network would affect any Metamask user who is just starting out on their Binance smart chain adventure.
Metamask is one configuration for accessing the Ethereum Mainnet and executing smart contracts. Tokens issued on the ERC-20 standard cannot be converted directly to BEP 20 tokens in Metamask because the two networks operate on separate protocols. There will be several methods provided for you to exchange tokens across networks. However, one or two of them have somewhat higher prices than the others. On the other hand, in this piece, we’ll analyze the quickest way to turn Bnb on Metamask into Fiat. So, let’s get started!
Step 1: Add Binance Smart Chain to Metamask
If you are seeking the quickest way to convert BNB to Metamask into fiat currency, then you will need to add a network of Binance smart chain to Metamask. Just follow these steps to get it done!
- Go to Settings
- Scroll Down Find “Add a Network” and Click on it
Enter the Following Details:
- Network Name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- Chain ID: 56
- Currency symbol: BNB
- Block Explorer URL: https://bscscan.com
- Next, Click “Save” to Save the Settings
Step 2: Get Fiat Converted to BNB
If you are converting fiat currency to BNB BSC using Binance.us, then the following procedures are for you to follow in order:
- Sign Up for a Binance Account if You Don’t Have One
- Add Fiat Funds or Coins to the Wallet
- Buy BNB BEP20 BSC
- Next, Click on “Withdraw” to Send Your Assets to a Metamask Wallet
- The ERC-20 and BEP-20 Addresses for “Metamask” are the same, the Networks Themselves are Distinct
- Now Wait for a Couple of Minutes Until BNB Appears in the Metamask Wallet
If you are a Coinbase user, then the process of getting fiat converted is quite different as it doesn’t support BNB. And hence, you’ll need a separate tool to convert between ERC20 and BEP20 before you can get fiat currency.
BSC is faster, which is another advantage to choose from rather than Ethereum. While the first one will facilitate the exchange for an additional fee, the second one does not. These days, Ethereum network costs are rather expensive. On the BSC, the comparable transaction costs less than a dollar. Well, depending on the amount of traffic on the network, it might take up to 30 minutes.
Get Fiat Back from Metamask Using Binance?
- From inside Binance, select the send button and then BEP-20 from the dropdown menu to get a Binance BNB BEP-20 address.
- The Deposit BNB window in Metamask will provide you with the Binance BEP-20 address.
- Binance offers the BNB for sale in exchange for USD.
- Withdraw the money by ACH for small amounts or a wire transfer to your bank account for bigger amounts.
How Can I Transfer Money from MetaMask to My Bank Account?
Step 1: Sign Up for a Binance Account
Sign up for an account now. To access Binance, you can either visit their website or use their mobile app. Choose “Register” from the menu. Once you click that link, you’ll be sent to a page where you can input your personal information and set up a password. It is crucial that you authenticate your identification by giving your actual date of birth and place of residence.
Step 2: Enter Ethereum Address
- First of all, Click on “Wallet“
- Next, Click on “Fiat and Spot“
- Now Look for “ETH” from the List and then click on the “Deposit” Button
- Next, Click on “Deposit Crypto” and Select “ETH“
- Choose the Network as “ERC20“
Step 3: Transfer Ethereum from Metamask
Move the Ethereum from your MetaMask wallet to your Binance account. MetaMask requires you to access your wallet through your backend account. To see your Ethereum Mainnet balance and transaction history, choose the corresponding menu item. Click the send button. By selecting this option, you will be sent to the “Add Recipient” page on MetaMask.
Step 4: Sell Crypto on Binance
After the transaction has been finalized, you may check your Ethereum balance on your Binance account. You may buy Bitcoin and other fiat currencies using Ethereum sold on Binance. Go to the “selling” tab inside your Binance account. Choose “Spend” from the “ETH” menu. You will be asked to choose the currency in which you desire to be paid in order to proceed. After you hit “Continue,” Binance will bring up a set of guidelines.
Step 5: Transfer Money to Your Bank Account
After you have converted Ethereum to fiat currency and the funds are in your Binance account, you may quickly and conveniently transfer them to your bank account. Choose “Wallet” to access your digital Fiat and spot currency wallet. To withdraw funds to your bank account, click the “withdraw” button, which will take you to the withdrawal page. It might be wise to double-check the currency selection to make sure it is correct.
To use a bank card, just click “Bank Card” under “Payment Method.” To initiate a withdrawal, just enter the desired amount and associated banking information into the appropriate areas. After pressing the button labeled “Continue,” a 6-digit verification code will be sent to the number provided for further security. It’s important to note that the fastest way to withdraw funds is by selecting “Bank Card” as your method of payment.
The Final Word
The easiest approach to turn Bnb on Metamask into fiat has been outlined in detail here in this article. While it seems to be a complicated and perplexing procedure at first, it is probable that you may make errors as you go along. However, it’s safe to assume you’re fine to go after double-checking your network and wallet addresses.
