DCV - December 30, 2021
This post will detail how I transferred my BNB from Metamask to Trust Wallet and then staked it to earn passive income on my BNB funds.
Before doing this I obviously need a Metamask wallet set up on the Binance Smart Chain network, either on my browser or on my phone, with some BNB deposited. I also need a Trust Wallet as well.
I'm starting off by accessing my Metamask wallet in my browser. I can just as easily do this on my phone which is a very similar process. I open up my wallet, make sure I'm on the Binance Smart Chain network and click "Send".
Metamask prompts me to input an address to send to. Now, I go to Trust Wallet, tap "Receive", search for "BNB" and tap on "Smart Chain". It's very important that I am recieving BNB using the Smart Chain option because that is what works with Metamask.
I copy the address and paste it in my Metamask extension. I enter the amount of BNB I want to transfer, click "Next", and then click "Confirm".
The transaction is now "Pending" and shouldn't take more than a minute to go through. After it does, I can see that the transaction is recorded by Metamask and my balance has updated.
Now, back on Trust Wallet, I can see that my Smart Chain BNB balance has updated. It now reads 0.1 whereas it was 0 before.
In order to stake on Trust Wallet, the BNB needs to be on the Binance Chain mainnet. I can do this by tapping my Smart Chain BNB balance, selecting "Swap", and then selecting "Swap to Binance Chain".
I select the amount I want to swap. In this case, it's my total balance which is 100%, then tap "Swap" and confirm the transaction.
The smart contract takes about a minute or two to execute and deposit the funds. After some time, I can see my Smart Chain BNB balance update and then my mainnet BNB balance update. I paid about $1.62 to execute this smart contract.
Finally, I can stake my newly swapped BNB. To do this, I tap my BNB mainnet balance, tap "Stake", tap "Stake" again, chose my validator, and then input the amount I want to stake.
After entering the BNB for staking, tapping "Next", and confirming the action, that's all that needs to be done. Be aware there is a minimum of 1 BNB to stake.