The wait is finally over! You can now manage BNB and BEP20 tokens directly through Ledger Live. This capability brings two very important benefits to the world of cryptocurrencies:
- Easy, cheap and faster transfer of coins compared to the Ethereum network!
- Direct connection to DApps and BSC projects
Ledger strives to integrate all services into a single software (Ledger Live) alongside the expansion of secure blockchain networks. Ledger is proud to announce the addition of Binance Smart Chain (BSC) to Ledger Live today and celebrate it as a major milestone in Ledger’s development!
From today, you can easily manage the Binance network’s main currency BNB and all Binance Smart Chain tokens under the name BEP20 in the Ledger Live software. These services include receiving, sending and storing BNB and all BEP20 tokens.
You are probably wondering how I can do this?
You can manage a large number of BEP20 tokens, or Binance Smart Chain tokens, in Ledger Live. For more information, you can also refer to our website: URL Ledger website. For Binance Smart Chain tokens that are not supported in Ledger Live, you can use third-party wallets like MetaMask. Note that MetaMask must be connected to Ledger to ensure the security of your assets.
Before you start, make sure that:
-You have installed the latest version of Ledger Live or updated Ledger Live.
-You have updated your Ledger Nano S, Ledger Nano X, Ledger Nano S Plus, or Ledger Nano X. To do this, you need to update its firmware.
-You have installed the BSC or Binance Smart Chain app on Ledger Live and your Ledger device.
The steps are very simple:
- Open the Ledger Live app.
- In Ledger Live, go to the “Manager” section and install the Binance Smart Chain App in Ledger Live.
- In the “Accounts” section, click on the “Add account” button and select the “Binance Smart Chain” option.
- Then go to the “Receive” section and click on “BSC”. The Binance Smart Chain address will be displayed.
- You can use this address to receive BNB and BEP20 tokens.
If you have installed the Binance Smart Chain app, you should be able to see and manage your BEP20 tokens.
Click on the “Accounts” section, then click on the “Show tokens” option in the Binance Smart Chain app to see your tokens.
If you see tokens with a zero balance and this bothers you, you can easily get rid of them. Here are the steps: Go to the “Settings” tab. Then go to “Accounts”. Finally, select “Hide empty token accounts”.
Viewing Binance Smart China tokens on mobile is as follows:
Viewing Binance Smart China tokens on the computer is as follows:
By pressing the “Send” or “Receive” button, you can easily send your desired tokens to another wallet on the BEP20 network or receive them on your Ledger. Here we will show you how to transfer your assets from Binance Exchange to your Ledger wallet using the Binance Smart Chain network.
How to transfer our assets from the Binance exchange to our ledger wallet under the Binance Smart China network?
⁃ In the Binance exchange, go to the withdraw crypto section. Then select the coin you want to send.
⁃ In the address field, reset (paste) the Binance Smart Chain Ledger network address that you copied earlier. Always check the address visually and don’t trust copy/paste.
⁃ Finally, press the confirmation button to finalize the withdrawal.
Shipping fee or per Binance Smart China network in Ledger Live
زمانی که از لجر خود توکن بایننس اسمارت چین را ارسال میکنید، هزینه ارسال یا فی شبکه یا گس فی باید به صورت ارز BNB پرداخت شود. از اینرو حتما اطمینان حاصل کنید که مقادیری BNB در لجر خود داشته باشید.
Are all the currencies of Smart Binance China network supported in Ledger Live?
While a large number of Binance Smart Chain tokens are supported in Ledger Live, you cannot manage all of them with Ledger Live. Let’s summarize it this way: From Ledger Live’s point of view, Binance Smart Chain network coins are classified into 3 categories:
First category: Coins that are fully supported: displayed on the Live Ledger. You can receive and send them. The number of coins and their value (in dollars) are displayed.
The second category: there are coins that can be seen in Ledger Live. You can send and receive it. You see the number of coins. But you don’t see their value in dollars.
The third category: Coins that you cannot see in Ledger Live. Neither their number nor their value can be seen. If you transfer a coin that is in the third category to your ledger, don’t worry, your assets are completely safe. Just use Metamask to manage it. We explained it in another article. See how to connect the ledger to Metamask in this article.
For example, the image below shows that the BNB and BUSD tokens belong to the first category. While FEG and Baby Doge tokens belong to the second category.
Why should I access the Binance Smart Network through Ledger?
The main goal of the ledger is to provide users with access to all valid digital currency networks. While your assets and your private key are kept safe in the Ledger Nano hardware wallet. This allows you to manage your assets, without losing your ownership and control of currencies.
In addition, with the daily expansion of DApps ecosystems, which mainly work based on Binance’s smart network, access to this network will be doubly important.
What is Binance Smart Network?
As the name suggests, this network is developed by Binance, the world’s largest cryptocurrency exchange. In 2019, Binance launched a network called Binance Chain. This network had some drawbacks that forced Binance to create a new network called Binance Smart Chain. This network has the ability to transfer a very high number of transactions with lower gas fees and higher speed! Unlike the Binance Chain network, Binance Smart Chain also supports smart contracts, staking, and compatibility with the Ethereum Virtual Machine (EVM).
Comparison of BEP2 and BEP20 in Ledger Live
A common mistake is to incorrectly send assets to the BEP2 network. Note that these two networks are not the same. BEP2 is the Binance China network. While BEP20 is related to Binance China Escort Network.
Note that only Binance Smart Network is supported by LedgerLive. And the Binance network with the old BEP2 format is still not supported in the ledger. If you had previously created a wallet for your BEP2 tokens and currencies through the Binance.org site, and after updating the ledger, your access is lost, perform the following operations.
1. Enter the manager section.
2. In the App Catalog section, search for Bin.
3. Find and install the application (Tendermint Binance Chain), if you do not find this application, be sure to update the firmware and ledger live.
4. Then go to the website (Binance.org/unlock) and sync your ledger to access bep 2 tokens.
Important points of Binance Smart Network:
1. This network is based on the Ethereum blockchain. Like the Ethereum network, it has the ability to provide smart contracts, with the difference that it is much cheaper (per transaction) and faster!
2. That the network is actually centralized and managed by Binance.
3. This network will expand dramatically in 2021. Many investors have entered this network and the expansion of DApps connected to it.
The video below shows how to connect the smart network to Ledger Live.