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in this video im going to show you how you can safely and securely store your binance smart chain bnb and bep 20 tokens with ledger live for more information please check out everbet help stockholder uk and if you dont already have a ledger hardware device to store your binance smart chain tokens then ill pop a promotional link in the summary below as of august 2021 you can now securely manage and transact with the binance bnb token and bep 20 tokens all directly from within ledger live as youre most probably aware by now ledger hardware devices are one of the safest ways to store your crypto with your private keys always being kept offline within the wallet and away from any potential harm and the binance smart chain is a blockchain built by binance the worlds largest crypto exchange and it supports two native asset types which are b and b the buy net smart chains native currency and the bep 20 token which is similar to ethereums erc20 token but on the binance smart chain by integrating the binance smart chain ledger users can now safely store their bmb and bep 20 tokens while saving on fees when interacting with their tokens and to get started youll need to install the binance smart chain app on your ledger hardware device via ledger live first youll need to ensure that youre using the latest version of ledger live and youre usually prompted at the top of the screen if youre not running the latest version so im going to go ahead and download the update now and then install now from time to time i actually have some issues when clicking on the install button but you can also download the latest version of ledger live from their website and you can then choose your correct operating system and this will work in the same way as clicking on to install so now that that install is completed you can see here from the release notes that leisurelive now supports bsc which is the abbreviation for the binance smart chain and you can now send and receive so lets continue then were going to head across to the manager from the left hand side of the screen and youll need your ledger hardware device plugged in and unlocked at this point and you may also be prompted on the device screen to allow manager once thats complete youll also be prompted if you need to update your firmware on your ledger device too however mine is currently up to date as you can see if you head across to the app catalogue if youre not already there you can now see the buy not smart chain available in the list or you can search for it here too and im going to go ahead and install the app now and im currently using a ledger nano x at the moment but if youre using the ledger nano s and you dont have enough storage you may need to uninstall another app to allow for this one but dont worry is by uninstalling you wont be deleting any of your actual hard earned crypto as it just removes the app from the device then once youve installed the app youll then be prompted to create a binance smart chain account and youll need to do this so that you can start to receive crypto and start storing it on your ledger so im going to click on to manage my account and youll then be taken over to the account screen now where weve automatically got binance smart change selected from the drop down so lets click on to continue youre then asked to open the binance smart chain app on your ledger hardware device and it will then go ahead and synchronize for you once thats successful im going to go ahead and create a new account and then click onto done and if we just search for the binance smart chain my new binance smart chain one account has been created and added so ill click onto my new account and as it states here i currently have no crypto assets here therefore i want to receive some so if i click on to receive now which i can do for the center of the screen or from the option on the left here i need to select the binance smart chain account one that ive created from the list and as it states here you can only send b b or bep 20 tokens to a binance smart chain account and if for example you send bitcoin to this address in error you do risk losing your funds and it then shows you my address to send my funds across to and i can then copy this address by clicking on the button on the right hand side or i can click onto the qr code to send my funds across to next ill just need to confirm and verify that on my hardware device that the shared address here exactly matches the one on my device which ill need to approve on my device then i can choose done so next lets take a look at how we can send our b b tokens or bet 20 tokens across from an exchange over to our ledger live using the address that weve just copied and i currently have some b b tokens over on the binance exchange that id like to send across to my ledger as its not recommended to keep crypto over on exchange without access to your private keys as you have less control over your funds as they say in crypto not your keys not your crypto so lets send across my tokens now by searching for the bnb token within the binance exchange spot wallet then choosing to withdraw in the address field well need to paste in the binance smart chain receive address that we just copied across from ledger live and as you can see the network has already been detected that this is a binance smart chain address if this is the first time youre sending tokens to an address id really recommend sending over a test amount first before you send across all your crypto and with the binance smart chain the transaction costs are minimal too so it wont cost you much to do this im going to withdraw my tokens now and confirm that the platformer im sending to supports the binance smart chain which it obviously does now now if you are in the us i do know that there are some problems when sending from binance and youll need to use the binance chain wallet to allow you to convert bnb tokens to the binance smart chain first but if i head back to ledger live youll see that my balance is now appearing under my account and my tokens are now securely stalled within my ledger live from here i can then track the price of my token i can edit the settings or star the account as a favorite plus i can also send so lets take a look at how we do that now so say for example youve been storing your tokens on your ledger for a while but now you want to trade them over on binance for something else so were going to click on to send where were then prompted to enter in a recipient address so over on binance.com if i click on to deposit and choose b and b and its important here that you select the buy net smart chain and not to confuse this with the binance chain which is another chain altogether then you can copy the address here or use the qr code and back over on ledger live well paste that into the recipient address and its stating here that the auto verification is not available and i need to carefully verify the address so ill just double check the address back over on binance now then when im happy i can then continue it then shows me the maximum spend available which will take into account any fees that need to be paid for this transaction and im going to send max and from here i can then choose whether or not i want the transaction to go through slow medium or fast but as you can see the fees here are minimal at six cents especially if i compare this to the likes of the ethereum network so im going to choose continue where it now shows me a confirmation and im going to need to verify and approve the transaction on my ledger device too so now that transactions complete if i view details it then shows me a summary of my send transaction and i can view this in the explorer where it shows me a confirmation of my transaction and all the details as well as confirming the exact transaction fee but that completes how to store send and receive with ledger and the binance smart chain and i hope you enjoyed this video today and if you did then please give me a like hit the subscribe button and please do head over to my website at everybodyhelps.com for more tips reviews and step-by-step guides thanks and ill see you soon you In this video, I show you how to set up and use the Binance Smart Chain with Ledger Live. I take you through an overview, before walking you through how to get started and safely store your BNB or BEP20 tokens within Ledger Live. Then how to send and receive your tokens.► Ledger 20% Discount Code: ► Ledger Nano X Review; ► Ledger Nano S Review; ► Binance US Sign-up: Louise Elizabeth Every Bit Helps Subscribe: EXCHANGES Coinbase $10 BTC Bonus: Gemini $10 BTC Bonus: Binance: 20% Off Trading Fees FTX Exchange 5% Discount: Crypto.com $25+ Bonus crypto.com/exch/xw37vqrgu6 eToro Exchange: Revolut: DEFI BlockFi Free BTC: Celsius Network Free BTC: Nexo Referral $10 Sign-up bonus: Dharma & Use Referral Code NZPRJC to Earn $50 of ETH Bonus 1inch DEX: ONLINE SECURITY Express VPN: LastPass: YubiKey: HARDWARE WALLET Ledger Nano S: Trezor Wallet: SOCIAL MEDIA Website: Facebook: Twitter: LedgerLive BinanceSmartChain LedgerWallet DISCLAIMER: Some of the above links may be affiliate links, so if you click & purchase something, I could receive a small commission at no additional cost to you. I only recommend companies and products I personally use, & any commissions help to pay for content creation. Thank you in advance This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading, or otherwise investment advice. I always recommend you do your own research before making any type of investment. BinanceSmartChain,LedgerLive,LedgerWallet,
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