BinanceSmartChain is top place for yield farming because Ethereum network has too big fees to interact with smart contracts. Learn how to join Binance Smart Chain and APY with over 1000% easily. Of course Binance account needed.
What is BSC Blockchain ?
Its kind of clone of Ethereum chain but using BNB binance coin for fees making it a lot cheaper. Do not mess it up with BinanceChain which is different. You can move loads of coins and tokens from Ethereum or even other blockchains like Litecoin or Bitcoin to BSC and farm them there or just trade with less fees than on ETH.
To use BinanceSmartChain you need MetaMask like for Ethereum just with some setups.
Is There Easy BSC Setup Guide with Metamask ?
A full guide to configure BinanceSmartChain with MetaMask wallet extensions for Chrome Firefox Brave and others is below.
Open MetaMask -> Networks (on top) – Custom RPC -> Then paste this info. Keep in mind if you close MM even for a second, it will go back to the main page. So set up some, then save then edit (through settings). Stuff to set:
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
Done, now changing networks you are on BSC not ETH (yes, ETH wallet address is same for BSC no need to make new one).
Yield Farming Binance Smart Chain with 1000%+ APY ?
Banks give you 1% APY, other yield farms give you 30-100%. For now BSC chain lets you get over 1000%. All you need to do is grab 1INCH and BNB tokens from Binance (no documents needed).
Then your withdrawal to BinanceSmartChain go to 1inch Exchange with this link (no registration, decentralized)
Then top right change ETH to BSC (if needed) -> DAO -> Pools and add liquidity to chosen ones. Enjoy the APR/APY that is better than on Ethereum or in banks.
Edit: Right now only CHI/1INCH pair has 1000%+ but this changes, then you need to grab some CHI or use other 300-400%+ APY that are there.