Can I Send BTC To Metamask? (Explained) | Financially Independent Pharmacist

Final up to date on April eleventh, 2022

Metamask is among the most generally used non-custodial wallets, because it helps numerous cryptocurrencies and blockchain networks.

Nevertheless, you’re unable to carry native BTC, as Metamask doesn’t assist the Bitcoin community.

Right here’s what it’s essential to know, and how one can add BTC to your Metamask pockets.

Can I add or ship BTC to Metamask?

You might be unable so as to add or ship native BTC to your Metamask pockets, because the Bitcoin community shouldn’t be suitable together with your Metamask pockets. As an alternative, it is possible for you to so as to add BTC that exists on completely different networks, akin to wrapped BTC (ERC20) or BTCB (BEP20) that are suitable with Metamask.

If you get hold of your deposit handle out of your Metamask pockets, it can begin with ‘0x‘.

The handle that you’re copying is identical, no matter whether or not you’re utilizing the Ethereum Mainnet or the Binance Sensible Chain. Nevertheless, in case you are utilizing the Concord ONE community, you will have to transform it to a Concord-compatible handle.

There are some platforms like Binance which let you withdraw Bitcoin utilizing a number of networks.

For those who copy this handle to a platform like Binance, it can robotically take away the native Bitcoin community from the attainable networks you should use to withdraw BTC.

As an alternative, you’re solely capable of withdraw to Ethereum suitable networks, akin to BSC or ERC20.

It’s possible you’ll wish to observe that if you happen to use the Ethereum community to withdraw BTC, you may be withdrawing BBTC as a substitute of wBTC.

As such, you may be unable to ship native BTC to Metamask by way of the Bitcoin community. For those who accomplish that, there’s a danger that your funds could also be misplaced eternally!

What are the alternate options to ship BTC to Metamask?

To ship BTC to your Metamask pockets, you will have to ship BTC that exists on completely different networks, akin to wrapped BTC (ERC20) or BTCB (BEP20), that are suitable with Metamask.

When you can’t ship the native BTC to your Metamask pockets, it’s attainable so that you can ship different variations of BTC that exist on completely different networks, akin to ERC20 or BEP20.

Some examples embrace:

• wBTC or Wrapped BTC (ERC20)
• Binance Wrapped BTC (ERC20)
• BTCB or Binance-Peg BTC (BEP20)

All of those variations of BTC will symbolize BTC on different networks other than the native BTC community. As such, it is going to be attainable so as to add them to your Metamask pockets since Metamask is suitable with each the ERC20 and BEP20 networks.

One platform that helps all of those variations of BTC is Binance, and right here’s how one can switch BTC to your Metamask pockets.

How do I switch BTC from Binance to Metamask?

You’ll be able to switch BTC from Binance to Metamask in its place model by way of 3 methods:

1. Sending BTCB by way of the Binance Sensible Chain
2. Sending BBTC by way of the ERC20 community
3. Sending wBTC by way of the ERC20 community

Right here is every methodology defined:

Sending BTCB by way of the Binance Sensible Chain

The very first thing you’ll have to do is to copy the BEP20 handle in your Metamask pockets.

When you’ve got not added the Binance Sensible Chain to your Metamask pockets, you possibly can view this information right here.

Alternatively, you possibly can view this video on how one can add any new networks robotically with only one click on:

Once I’ve pasted my Metamask pockets handle on Binance, I might be given 2 networks to ship BTC to Metamask:

1. Binance Sensible Chain (BEP20)
2. Ethereum (ERC20)

If you need to have BTCB in your Metamask pockets, you will have to ship it utilizing the BEP20 community.

You’ll be able to view my information on how one can add BTCB to your Metamask pockets to view it underneath your property.

Sending BBTC by way of the ERC20 community

One other approach of sending BTC to Metamask is through the use of Binance Wrapped BTC (BBTC). To take action, you will have to choose the Ethereum community (ERC20) if you end up sending BTC from Binance to Metamask.

So as to add BBTC to your Metamask pockets, you possibly can observe the identical steps of including BTCB, however you’ll have to copy the contract handle from Etherscan as a substitute.

Nevertheless, chances are you’ll wish to observe that BBTC that not has that many use instances as in comparison with wBTC, which is what we’ll be going by way of subsequent.

Sending wBTC by way of the ERC20 community

wBTC is one other model of BTC that exists on the Ethereum community (ERC20). Nevertheless, on Binance, BTC and wBTC are 2 separate tokens, so that you’ll have to commerce BTC for wBTC.

When you’ve BTC in your Binance account, you will have to go to their buying and selling platform underneath ‘Commerce → Basic‘.

After that, you will have to pick the BTC/wBTC buying and selling pair,

after which enter the small print of your commerce together with the quantity of wBTC that you simply want to purchase.

Although BTC and wBTC are imagined to be 1:1, the speed could also be barely unfavourable, so chances are you’ll obtain much less wBTC after this transaction.

After you have wBTC, you possibly can ship it to your Metamask pockets utilizing the identical Ethereum deposit handle.

wBTC is a local ERC20 token, so you’re solely capable of ship it by way of the ERC20 community.

After you have processed the withdrawal, you will have to add Wrapped BTC (wBTC) to your Metamask pockets to view your steadiness.

You’ll be able to view my information on how one can add wBTC to your Metamask pockets to view it underneath your property.

If I’ve despatched BTC to my Metamask pockets, why can’t I view it?

When you’ve got despatched BTC by way of the Binance Sensible Chain (BEP20) community to your Metamask pockets, you will have so as to add each the Binance Sensible Chain and BTCB to your pockets. When you’ve got despatched BTC by way of the Ethereum community both by way of BBTC or wBTC, you will have so as to add both token to your Metamask pockets.

For Metamask, you will have so as to add all networks other than the Ethereum Mainnet, which is the default community within the pockets.

In case you are sending BTCB by way of the BEP20 community to your Metamask pockets, you will have so as to add these 2 issues to your Metamask pockets:

• Binance Sensible Chain community
• BTCB token

Nevertheless, if you happen to’re sending both BBTC or wBTC to your Metamask pockets, you’ll simply want so as to add both token to the pockets.

After including the tokens to Metamask, it is possible for you to to view them in your pockets.

Can I convert BTC to wBTC immediately on Metamask?

It isn’t attainable so that you can convert BTC to wBTC immediately on Metamask, as Metamask doesn’t assist BTC. As such, you will be unable to obtain any BTC in your Metamask pockets to transform to wBTC.

Since you possibly can’t ship BTC to your Metamask pockets, you received’t be capable to convert from BTC to wBTC from Metamask.

As an alternative, you will have to make use of different platforms that assist each wBTC and BTC. A few of them embrace:

• Binance
• KuCoin
• FTX
• Huobi
• Kraken

Can I convert BTC to wBTC immediately on Belief Pockets?

You might be unable to transform BTC to wBTC immediately on Belief Pockets. You will want to ship your BTC on Belief Pockets to a platform that helps each BTC and wBTC to course of this conversion.

Much like Metamask, you possibly can’t swap BTC to wBTC immediately on Belief Pockets.

As such, you will have to ship BTC to a platform that helps the BTC/wBTC buying and selling pair, after which commerce your BTC for wBTC.

Alternatively, you’ll be able to convert BTC to wBTC utilizing a bridge just like the Badger Bitcoin Bridge.

You will want to have BTC in a custodial pockets akin to Coinbase Pockets to course of this conversion.

You should use different wallets akin to ZenGo to retailer BTC

For those who want to retailer BTC in a non-custodial pockets, one of many alternate options which you could take into account is the ZenGo pockets.

What’s extra, ZenGo makes use of Keyless Pockets expertise, which makes use of your biometric face map to backup or restore your pockets.

Conclusion

You might be unable to ship or add native BTC to your Metamask pockets, as a result of Metamask doesn’t assist the native Bitcoin community.

Nevertheless, it’s attainable to ship different variations of BTC that exist on both the Binance Sensible Chain or ERC20 networks (e.g. BTCB, BBTC or wBTC)!

After including and receiving your tokens to your Metamask pockets, you possibly can take into account utilizing decentralised trade (DEX) aggregators, together with:

• Krystal
• 1inch

Since each platforms are DeFi aggregators, they’ll be certain that you’ll get the very best charges for any swaps that you simply make!

For those who’re trying to generate tax reviews on your crypto trades, you possibly can think about using Koinly, which lets you monitor your transactions from 350+ exchanges and 50+ crypto wallets.

Referral Offers

In case you are thinking about signing up for any of the merchandise talked about above, you possibly can verify them out beneath!

ZenGo Referral (Get $10 Cashback)

In case you are on the lookout for an different pockets to Metamask, one of many choices you possibly can take into account is ZenGo. What’s extra, you’d be capable to obtain $10 cashback, and right here’s what you’ll have to do:

1. Join a ZenGo pockets utilizing this hyperlink
2. Enter the Referral Code ‘ZENX0B4G’ if you end up getting into your e mail
3. Buy $200 price of crypto by way of MoonPay within the ZenGo app

As soon as that is finished, you’ll obtain $10 cashback in BTC.

Are you captivated with private finance and wish to earn some versatile earnings?