How to use koaladefi.finance on Binance Smart Chain (BSC) to generate money
koaladefi.finance ? High yields BSC farm brought by the Koalas. Earn $LYPTUS through yield, then stake it in Pools to earn more tokens! Security first on Koala DeFi.
Warning: No financial advices
Install & Configure MetaMask
Note: Koaladefi supports others wallets like TrustWallet, MathWallet, TokenPocket, WalletConnect and Binance Chain Wallet
👉 If you already have a wallet and liquitidy, check our next article: How to buy 🍃$LYPTUS
Go here and install the MetaMask extension: https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn
Once installed, you will have to initialize it:
- Create a new wallet
- Display the 12 words and ̶s̶a̶v̶e̶ ̶t̶h̶e̶m̶ ̶̶̶ ̶̶̶i̶̶̶n̶̶̶ ̶̶̶a̶̶̶ ̶̶̶l̶̶̶o̶̶̶c̶̶̶a̶̶̶l̶̶̶ ̶̶̶f̶̶̶i̶̶̶l̶̶̶e̶̶̶ write them on multiple paper sheets and keep it save!
- Input the 12 words correctly
- That’s it!
MetaMask is working by default on the Ethereum network so we need to direct it to the Binance Smart Chain network instead:
- Click on the MetaMask icon on the top-right of your Chrome browser and select the left icon
- Select “Settings” > “Network” > “Add Network” and add the following new network:
MetaMask settings for Binance Smart Chain (BSC)
- Name: “Binance Smart Chain”
- URL: https://bsc-dataseed.binance.org/
- Chain ID: 56
- Symbol: BNB
- Block explorer: https://bscscan.com
Click “save”. The new network will be automatically selected (you can see it in the drop down list at the top) and added to your network list.
MetaMask is now configured and ready to work on the Binance Smart Chain.
Now we will need BNB (Binance Coin) and SWGB to provide on PancakeSwap in the corresponding Liquidity Pool (Farm).
Create & configure an account on Binance
Go here and create an account on Binance: Binance.com
Disclaimer: the link above contains a referral code
Once you’re account is created, verify your email address and configure your 2FA in the security dashboard: Binance Security dashboard
Note: You don’t need to do the full eKYC procedure for this tutorial, but it is highly recommended.
So now, you need to either buy or deposit crypto on Binance. As I already have some BTC, I’m going to deposit it on the platform, but if you want to buy crypto, buy BNB directly on Binance.
To send BTC to your wallet, go to “Wallet” (top menu right) > “Fiat & Spot” and search for the coin you have and want to use, then click on “deposit”.
The road to deposit from the “Wallet” menu in Binance
Note: Moving assets (any crypto) requires a transaction, which incurs fees depending on the network, the priority of the transaction, … For example, moving 400$ worth of BTC incurs~12$ of transaction fees.
Now that I have some BTC on Binance, i’m going to convert them for BNB, and add them to my MetaMask wallet.
Go in “Trade” (top menu left) > “Convert”, input the crypto you deposited in the “from”, and BNB as “to”.
The path to convert BTC to BNB on Binance
Once the conversion is done, you will be able to send those BNB to your MetaMask wallet, and then used them on PancakeSwap.
Transfer your BNB on your MetaMask wallet
In Binance, go to “Wallet” (top menu right) > “Fiat & Spot” and click on “Withdraw” on the right side of your BNB.
From menu, to withdraw in Binance
Click on MetaMask and click on “Account 1” (verify that you’re on the Binance Smart Chain network). It will copy your MetaMask address in the clipboard. Paste it in the corresponding field on Binance.
Verify that you’re on the BSC network, and click on the account’s name to copy it.
Then select “Binance Smart Chain (BSC)” as the transfer network. You will have to answer the safety form that will be displayed, but when it’s done, you can select the amount and transfer the BNB to your MetaMask wallet.
Account + BSC + Amount = transfer to MetaMask wallet.
Input the Email verification code and the 2FA, and then wait for the transaction confirmation.
We now have MetaMask, configured on BSC, with some BNB on it! Now, we can finally stake our tokens in PancakeSwap to earn “cake” tokens.
Swap to buy 🍃$LYPTUS
You are now ready to buy some 🍃$LYPTUS!
👉 The following in our article: How to buy 🍃$LYPTUS