Adding ADA to Metamask: A Comprehensive Guide
Are you looking to add ADA to Metamask wallet but don't know how to get started? This guide will walk you through the step-by-step process to add ADA to Metamask with ease.
Metamask is a popular non-custodial wallet for crypto enthusiasts. However, it is not compatible with Cardano's blockchain network and ADA token because Cardano is not Ethereum Virtual Machine-compatible. This means Cardano cannot be added to Metamask through custom RPC endpoints. Currently, it is not possible to add Cardano to Metamask. Don't fret, there are alternative methods you can use to add ADA to your wallet.
Adding ADA to Metamask by 2 easy methods
Firstly, you can add the Binance-PEG version of ADA to your Metamask wallet through the Binance Smart Chain network.
And if that's not your cup of tea, you can always opt for a different wallet that comes with native Cardano network support. The Daedalus Wallet is a computer-based wallet that can be downloaded and used on Windows, Mac, and Linux computers. With Daedalus, you can send and receive native ADA tokens on your wallet without a hitch. Now let’s begin
Add Cardano (ADA) to Metamask
To procure ADA in your crypto wallet, you can resort to a non-native version of ADA, namely the Binance-PEG ADA. This token belongs to a different blockchain but it's worth the same as the native ADA token. It's backed by the native coin in reserve and the reserve addresses are publicly auditable. It is possible to switch between the Binance-PEG and original ADA tokens via the bridge feature on Binance. So, if you're up for adding Binance-PEG ADA to your Metamask wallet, buckle up and follow our step-by-step guide below.
Step 1: Copy the contract address for Binance-PEG ADA.
In order to add the Binance-PEG ADA token to your Metamask wallet, you must obtain the correct contract address. This information can be located on the Binance-PEG ADA contract page on BSCScan.
To utilize Binance-PEG ADA, you must copy the address "0x3EE2200Efb3400fAbB9AacF31297cBdD1d435D47" to your device clipboard.
It is also possible to acquire this information directly from the official ADA token page on CoinMarketCap or by visiting the Binance-PEG ADA contract page on BSCScan..
Step 2: Launch the Metamask and choose Binance Smart Chain Network
The following action requires you to open the Metamask extension and type in your account password to gain access to your wallet. For users of the Metamask app on mobile devices, unlocking the wallet can be achieved through any of the available biometric methods such as Face ID, fingerprint, PIN, or Face Unlock. The process of unlocking the wallet is crucial in ensuring that the next steps in the process are executed successfully.
To ensure that the procedure runs smoothly, it is vital to add the Binance Smart Chain network to your Metamask wallet and set it as the default network. If you have not completed this step yet, don't worry, we have an excellent tutorial on how to add BSC to Metamask easily on both the extensions.
Once you have successfully added the Binance Smart Chain network to your wallet, make sure to select it as the default network by following the instructions provided in the screenshot below.
Step 3: Import token
Once you have chosen the right network, scroll to the bottom of the Metamask window and click the [Import tokens] button. Paste the Binance-PEG ADA contract address that you copied before and wait for Metamask to get the Token Symbol and Ticker.
When that is completed, click on [Add Custom Token] and then press [Import Tokens] to have Binance-PEG ADA in your Metamask wallet.
Step 4: Adding ADA to Metamask
It is vital to emphasize the importance of avoiding the transfer of native ADA tokens to your Metamask wallet. Doing so will result in an irreversible loss of funds. Instead, only Binance Smart Chain (BEP20) can be used to send ADA to your wallet on Metamask in this case. It is crucial to note that these two tokens have the same value but are deployed on different blockchains. Therefore, it is imperative to exercise caution when transferring ADA to avoid any potential loss of funds.
Note: When sending ADA from exchanges like Binance or Coinbase, make sure that you select “BNB Smart Chain (BEP20)” as the network to avoid the loss of funds.
Alternative cryptocurrency wallets compatible with native Cardano (ADA).
While it may not be possible to hold native ADA tokens on your Metamask wallet currently, fear not! There are other options available for the daring adventurer
Enter the Daedalus wallet, a standalone desktop software for Windows, Mac, and Linux systems that is compatible with the Cardano blockchain by default.
But wait, what if you're on mobile? Fear not, for Trust Wallet has got you covered! With the recent addition of Cardano network support, Trust Wallet is the perfect alternative to Daedalus. And if you're feeling particularly adventurous, you can even use Trust Wallet on your PC with our handy guide. So what are you waiting for? Let’s start!
Step 1: Set up your Daedalus Wallet
Head to the Daedalus Wallet page to get the most recent version of the software for your device. It can be installed on Windows, Mac, and Linux as a single program. After you have the software, double-click the package to set it up on your computer.
Once it is done, click on the Daedalus logo to open the wallet and pick the language, number, date, and time format. Only then will you be granted permission to click the "Continue" button and accept the policies outlined on the following page.
Step 2: Create a new wallet.
To make a fresh ADA wallet on the Daedalus Wallet display, hit [Create].
Create a Wallet name and Spending password. Every time you transfer or use ADA, or when voting on the Cardano network, you will need to provide a Spending Password.
Finally, click on [Create Shelley wallet] to complete the creation of your ADA wallet.
Step 3: Set up Recovery phrase.
To create a new ADA wallet on Daedalus, you should generate a 24-word secret recovery phrase. You should write it down and save it offline.
After generating the phrase, enter the 24 words in the exact order to verify it. Once you have checked your wallet, it should be ready to use and you can transfer and receive ADA coins through Daedalus.
How To Transfer ADA From Binance To Metamask?
Transferring Cardano (ADA) from Binance to Metamask can be a bit tricky, as it requires adding the Binance Smart Chain network to your Metamask wallet and using the correct contract address for the Binance-PEG ADA token. To add to the confusion, the process involves copying your Binance-PEG ADA wallet address from Metamask, which is the same as your default Metamask wallet address.
Once you've done this, you need to navigate to your Funding wallet on Binance, click on Withdraw, and select Cardano ADA. From there, you'll need to send the ADA via the BNB Smart Chain (BEP20) network by pasting the wallet address in the correct field and entering the amount of ADA to be transferred. It may seem like a lot to handle, but with a bit of patience and attention to detail, you can successfully transfer your ADA from Binance to Metamask.
At this time, there is no way to include the original Cardano token (ADA) to a Metamask wallet as Cardano is not compatible with the Ethereum Virtual Machine, which Metamask can only be configured with. Despite the fact that Cardano is developing a sidechain compatible with the EVM, the network remains incompatible until the rollout is complete.
For those who are feeling daring, they can add the Binance-Pegged ADA (Binance-PEG ADA) to their Metamask wallet through the BNB Smart Chain by entering the token's contract address into their Metamask wallet. Alternatively, you can opt for a different wallet with native Cardano network support. The Daedalus Wallet, for instance, is a desktop software available for PC, Mac, and Linux operating systems. We hope this guide has been beneficial if you were seeking guidance on how to add Cardano to your Metamask wallet..