How to Buy BNB on the Binance Smart Chain for DRIP Investing (Step 2 of 7)

Want to invest in DRIP? Follow this article to buy BNB, send BNB to TrustWallet (to swap to BNB on the Binance Smart Chain), and get started investing in DRIP today!

Getting Started With DRIP

In order to join DRIP, you need to have a few things. I have included links to guides on how to get started (click below):

1. How to installing MetaMask or WalletConnect wallet
2. You’re currently reading:
   How to buy BNB on the Binance Smart Chain
3. How to Add a Buddy ID: 0xC45B2dF781c1d011532eF5676591226Cd16e16A1
4. How to buy DRIP (and save 10% in fees)
5. How to Hydrate DRIP
6. How to Claim DRIP
7. How to Sell Claimed DRIP Tokens Back into BNB

Once you’ve read all these articles, you’ll be well on your way to making some nice passive income.

How to Buy BNB

For simplicity’s sake, I’ll be using the following references:

• BNB = Binance Chain
• BNB_smart = Binance Smart Chain

With DRIP, you’ll be using BNB_smart only.

To buy BNB, you have a few options:

• Binance.com (International) or Binance.us (United States) — I’ll be covering the steps needed to buy BNB from Binance in this article.
• KuCoin — I’m not familiar with the steps but know BNB is available for purchase.
• TrustWallet — Open app, tap Buy button, select BNB, follow steps in app.
• Crypto.com — Open app, buy BNB, send BNB as BEP-20 to MetaMask.

I’m sure there are other exchanges where you can buy BNB. These are the few I’ve used in the past.

For this article, I will be showing the Binance.us steps. If you are planning on using Binance.us and don’t have an account yet (assuming you’re in the United States and not in Texas), sign up before moving to the first step. You can also use Binance.com (outside U.S.) and the steps in this article should be roughly the same!

Step #1: Connect Your Payment Method

After logging into your Binance account, click the Buy Crypto button in the top menu bar.

Next, you can see my balance is $105.98. Click your balance (which will say $0) in the area on the right. Then, click the +Add Payment Method button and choose from the different payment method options.

Payment Methods

I prefer selecting ACH and using Plaid to connect to my bank account, but you’re welcome to select any other payment method.

Now that you’ve followed the instructions to add a payment method, let’s move on to actually purchasing some BNB.

Step #2: Purchasing BNB

Head back to the Buy Crypto page by clicking the menu button. Then, you’ll want to type in the amount of crypto you want to buy, making sure that instead of purchasing BTC, you’ll want to buy BNB (so click BTC Bitcoin and choose BNB).

Next, click Preview Purchase. Assuming everything looks good, you’ll click Confirm Purchase. From there, you should get an email to confirm the purchase.

Step #3: Sending BNB to MetaMask

The first thing you’ll want to do is make sure you have MetaMask all set up. If you don’t, please check out my previous tutorial on setting up MetaMask (or a WalletConnect wallet).

Before continuing to send BNB to MetaMask, let’s add the Binance Smart Chain to our list of Networks inside MetaMask.

Open MetaMask, click the main Ethereum Network button, and choose Add Network.

Next, input the following information into each field:

• Network Name: Binance Smart Chain
• New RPC URL: https://bsc-dataseed.binance.org/
• ChainID: 56
• Symbol: BNB
• Block Explorer URL: https://bscscan.com

Click Save. Then, switch to the newly added Binance Smart Chain network.

At this point, we’re ready to send our BNB from Binance into MetaMask.

Since we’ve purchased BNB using Binance, there’s a simple way to get our BNB into MetaMask without having to swap/convert from BNB to BNB_smart.

Open MetaMask and select & copy the wallet address you want to send your BNB to. You can copy it directly from here:

From here, let’s head into the Wallet page inside Binance.

Next, click on the Withdraw button and find BNB in your list of assets:

After selecting BNB, enter in the amount you want to send. I’m going to click the Max button to select all my BNB.

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Next, and this step is VERY, VERY IMPORTANT, you’ll need to select the Network.

Make sure you choose “BEP20 (BSC),” NOT “BEP2.”

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With the BEP20 (BSC) Network selected, you’re ready to paste in your MetaMask wallet address like so:

Making sure everything has been correctly added (BNB, Network: BEP20 (BSC), MetaMask address), you’re ready to click Preview Withdrawal and click Confirm Withdrawal.

If you have Google 2-Factor Authentication activated on Binance, you’ll have to enter your special code.

Lastly, in order to actually send the BNB to MetaMask, you’ll need to click the Confirm Withdrawal button in the message sent to your email account.

Once you click that button, and assuming everything is successful, you should be redirected to a page in Binance that looks something like this:

Make sure to check your MetaMask account and see your newly transferred BNB (which is now BNB_smart).

In the next tutorial, we’ll be covering adding a Buddy ID to your DRIP account.

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What to Read Next:

1. How to installing MetaMask or WalletConnect wallet
2. You’re currently reading:
   How to buy BNB on the Binance Smart Chain
3. How to Add a Buddy ID: 0xC45B2dF781c1d011532eF5676591226Cd16e16A1
4. How to buy DRIP (and save 10% in fees)
5. How to Hydrate DRIP
6. How to Claim DRIP
7. How to Sell Claimed DRIP Tokens Back into BNB