Quickest Way to Turn Bnb on Metamask into Fiat

Looking to know about the quickest way to turn Bnb on Metamask into Fiat? Every Metamask user new to this journey of Binance smart chain would have the issue of turning Bnb in and out of the network. Metamask is a type of setup to use Ethereum Mainnet for smart contracts. It’s a different network where tokens are not directly swapped from ERC-20 to BEP 20 in Metamask. You will get different ways to convert tokens between networks. Some of them are a bit more expensive than others. This blog explores the quickest way to turn Bnb on Metamask into Fiat. Let’s get into the blog

Adding Binance Smart Chain to Metamask

If you want to know about this, add a binance smart chain network to Metamask.

• Under the settings for network, click “Add a network.”
• Enter the following:

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

• Click Save.

Ways to get Fiat converted to BNB

If you use Binance.us and Coinbase to convert Fiat money to BNB BSC.

For Binance:

1. Create a Binance account.
2. Add Fiat funds or send your favorite coin/token to the wallet.
3. Buy BNB BEP20 BSC
4. Click the withdraw button from Binance to send the BNB to the Metamask wallet. The ERC-20 and BEP-20 addresses are identical for the Metamask wallet, but the networks differ.
5. Wait for the BNB to appear in the Metamask Wallet.

For Coinbase:

Coinbase is primarily ERC20 and doesn’t support BNB. This route requires another tool to bridge from ERC20 to BEP20.

1. Create a Coinbase wallet.
2. Buy USDT (ERC-20)
3. Send USDT(ERC-20) to the Metamask address
4. USDT will appear under the Ethereum network within Metamask.
5. To bridge the tokens, we will use the app.multichain.org.

BSC is quicker, so another reason to use it instead of Ethereum. Although you need to pay double, the First will help to enable the swap, and the second doesn’t require a swap. Nowadays, the high fees on the Ethereum network. The equivalent transaction on the BSC is under $1. It can take 30 minutes or more, depending on network traffic.

How to get FIAT back out from MetaMask?

Binance:

1. You can obtain Binance BNB BEP-20 address from within Binance by clicking send and selecting BEP-20 from the dropdown.
2. From Metamask, send the BNB to the Binance BEP-20 address, which is generated in the Deposit BNB dialog.
3. Binance sells the BNB for USD.
4. Pull out the fund via ACH for small amounts or wire transfer to the bank for large amounts.

Coinbase

1. Using the BSC network, swap the BNB for USDT using the swap button.
2. Use app.multichain.org to convert USDT (BEP-20) to USDT (ERC-20) from one MetaMask network to another.
3. Send the USDT (ERC-20) from Metamask to Coinbase.
4. Convert USDT to USD and use the Cash Out option.

How to withdraw money from MetaMask to my bank account?

Here is a step-by-step guide to transferring Ethereum from MetaMask to Binance and selling it for fiat money. Now you can withdraw the amount to your bank account within no minutes.

Create Binance Account

Register yourself for an account. Go to Binance or download the mobile app. Click on the “Register.” It will be redirected to the registration page, where you must enter an email address and create a password. Choose a strong password since the Binance wallet contains significant money after selling Ethereum and bank details. Identity verification is essential so verify your identity by entering your real date of birth and current address.

Enter The Ethereum Address On Binance

You need to find the Ethereum address on the Binance account.

• Click on “Wallet” and select “Fiat and Spot.”
• Open your spot wallet and find “ETH” from the cryptocurrencies list. You will see a “Deposit” button next to cryptocurrency.
• Click on “Deposit Crypto” and select “ETH”. Specify the network as “ERC20”.

Transfer the Ethereum from MetaMask

Transfer the Ethereum from MetaMask to Binance. You need to go to back MetaMask account and open the wallet. Click on “Ethereum Mainnet” to view the balance and list options. Click on “Send.” The option will redirect you to an “Add Recipient” page on MetaMask.

Sell the Crypto on Binance

When the transaction is complete, view the Ethereum on the Binance account. Sell Ethereum on Binance in exchange for fiat money. Go to the selling page on the Binance account. Under “ETH,” click on “Spend.” You need to specify the currency you wish to receive the funds. Click on the “Continue” Binance will automatically display a list of instructions.

Withdraw Money from Bank

Once you have sold the Ethereum for fiat money and the amount is available on a Binance account, then easily withdraw it to a bank account. Click on “Wallet” and open your Fiat and spot wallet. When you click “withdraw,” you will be redirected to the withdrawal page about transferring the amount to the bank. Recheck the currency and make sure you have selected the right one. Click on the payment method and select “Bank Card.” All you need to do is to specify the amount you want to withdraw and enter the bank details in the given fields. Click “Continue,” and you will be asked for a 6-digit verification code sent to the registered phone number.

View status

Using the “Bank Card” payment option is the most efficient; it takes only a few minutes to withdraw. Select the other option, such as SWIFT, and it takes a few days to complete the withdrawal process. You can click “Transaction History” under the fiat and spot wallet page to view the status.

Conclusion

Here we have mentioned the quickest way to turn Bnb on Metamask into Fiat. It’s easy to make mistakes during this process. Double-check the network and addresses you are using. Do share your experience with us to let us know whether it was useful.