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Setting up MetaMask to work with your Ledger
Securing your MetaMask by connecting a hardware wallet.
Now we are across the ‘why’ and ‘what’ around the release of RFOX Finance, we will proceed with tutorials on the ‘how’.
We recommend that you have your wallets ready ahead of launch so that you can participate in staking or farming as it becomes available.
Trust Wallet already has multi-chain functionality and should come ready to interact with DeFi protocols on Binance Smart Chain (BSC), provided you have $BNB to fund gas fees.
But the private keys in these wallets are not secured by a hardware wallet. For this reason, we will outline steps on how to set up a Ledger Device to operate through your MetaMask.
You can access how to install MetaMask for the first time here: https://docs.binance.org/smart-chain/wallet/metamask.html
The focus here will be how to connect a hardware wallet to maximize the security of your private keys and utilize the convenience and capabilities of a Web 3.0 DApp such as Metamask.
For this demonstration, we will use a Ledger Nano S device. Remember, if you are yet to purchase a hardware wallet ONLY source them through the manufacturer's website or authorized resellers.
Ledger Official Site: https://shop.ledger.com/products/crypto-starter-pack
Coinstop (authorized AUS reseller): https://coinstop.io/
Firstly, we need to connect our hardware wallets to MetaMask.
Before we do that, we need to ensure we have installed the Ethereum application onto the hardware wallet through the Ledger Live app.
Select 'Manager'. Search for Ethereum. Install the app.
ERC20 tokens and any blockchain compatible with the Ethereum Virtual Machine (EVM) can be accessed through the Ethereum app on Ledger to plug into Web 3.0 DApps such as MetaMask. We will cover how to set the network up to access BSC on the next page.
Once we have downloaded the application onto our device from Ledger Live, we need to give it permission to interact with smart contracts.
Open the ‘Ethereum’ App by pressing both buttons on the device simultaneously.
Once the application is open, press the right button on the device twice to find settings.
Press both buttons simultaneously to enter settings.
Locate ‘Contract Data’.
Change this setting by pressing both buttons simultaneously until it displays ‘Allowed’
Next, we need to connect our hardware wallet to MetaMask. We can do this from a browser extension.
Select the colorful circle icon for a drop box to appear. Select 'Connect Hardware Wallet'
Select 'Connect'.
Interact with your Ledger device to enter the Ethereum App. Press the device buttons until the next screen.
Select an account to open then select 'unlock'.
Select an account that has not been connected (multiple public-key addresses can link to the private keys of your hardware wallet). Once you select 'unlock' this will be available from your accounts in MetaMask.
Please note, holdings secured through the Ledger Live app will not appear here as they use different public addresses when connecting with Metamask.
All outgoing transactions or smart contract interactions must be manually approved on your Hardware wallet device. This eliminates a range of possible security risks that are present in Software (hot) wallets.
The next step is setting up the Binance Smart Chain network
Last modified 2yr ago