BEP20 Token: A Step-by-Step Guide

BEP20 Token: A Step-by-Step Guide

Are you interested in acquiring a BEP20 token but don’t know where to start? This guide will provide you with a clear and concise step-by-step process on how to get a BEP20 token.

Binance Smart Chain (BSC) has become a popular alternative to Ethereum due to its low transaction fees and fast processing times. BEP20 tokens are tokens built on the Binance Smart Chain and are used for a variety of purposes, including trading, staking, and investment. In this article, we’ll walk you through the step-by-step process of how to get a BEP20 token.

Acquisition and Trading

Acquisition and trading is a condition in business by which the ownership of properties is transferred through the process of trading in other words the buying and selling of properties like company ownership, business ventures, shares, stocks, bonds, real estate, and cryptocurrency assets. In the financial industry, this is commonly seen and assets of the above-mentioned classes are also been traded each ticking second. 

The cryptocurrency market, unlike the forex market, is open 24/7, and trades are carried out regularly as such there are inflow and outflow of money. In this context, we shall be sighting the cryptocurrency industry as a case study. Over time in the crypto industry, there have been acquisitions of crypto exchanges, staking firms, lending protocols, and crypto research institutes. 

On the verge of FTX collapse the US-based exchange CEO Sam Bankman-Fried hopped on a phone call with the CEO of the Binance cryptocurrency exchange Changpeng Zhao asking if he can acquire his exchange FTX… After all, is set and done it was not a successful acquisition due to some pending debts in which FTX was involved. This is a very clear case of acquisition and trading.

Set up a Binance account

This is a step-by-step guild on how you can set up your Binance account for full functionality.

1. Firstly, all you need to do to download the Binance application from your play store and install the Binance application on your mobile or computer device.
2. Secondly, register an active email address and name on your Binance application after that is done completely the KYC registration is provided by the Binance verification and security team.
3. During the KYC process, you will be asked to provide a valid government ID card such driver’s license, International passport, voter’s card, etc. 
4. Once your government ID card/ documents are approved, you would be asked to create a password that can’t be easily detected by a third party, you will be asked to enable biometrics (this will be only asked if your device got a fingerprint feature.)
5. It is important you know that the Binance KYC process can only be done on a mobile device.
6. Once all verification processes are approved and completed e.g. Phone number verification, Email address verification, KYC verification, and Password Verification. Then you are good to go! And your Binance account is ready for trading.

N/B. You can reach out to this link for more information 

Adding Funds to Your Binance Account

1. Login to your Binance application.
2. Click wallet an option like this will be displayed [spot and fiat] click on that option.
3. Then Click deposit, and select your preferred assets or option. You can either fund your Binance account from your local bank account or by using USDT, BUSD, or Bitcoin to buy any crypto assets of your choice.
4. Input the number [amount] of funds you wish to deposit into your Binance trading account 
5. Make sure you read the important notice when popped up during your transaction as this will enable you to understand better.
6.  Bank transaction details will be provided to you during the process of the transaction… The details entail the bank to which you are to make the payment if using the bank funding method.
7. Once the payment is made, your deposit order will be confirmed on the Binance app. After which you can proceed by trading. For more information do well to visit the link.  

Connecting Your Wallet to Binance Smart Chain

This section will be explained using the Metamask EVM wallet. If you already have your metamask wallet all you have to do are.

1. Click on the drop-down button (if using the metamask chrome extension) 
2. Choose the network option on the image.
3. Click on the add network option for adding the Binance smart chain network with these details: BSC Network.
4. Once every detail is added scroll below and click on add network, then you are good to go.

Finding and Acquiring a BEP20 Token

It is very much easy to find and acquire a BEP20 token as a crypto asset, there are millions of BEP20 tokens listed on various exchanges it all depends on which you want to invest in probably due to its utilities, team of developers, or its marketing power. You can begin your search using these research tools.

1. Dexscreener: Dexscreener is a very powerful research tool used by Defi researchers when looking out for a token to invest in for a short period of time. Dexscreener has an amazing and simple-to-use UI. Dexscreener host all blockchains except the ones that are yet to be launched. Dexscreener shows the market capitalization, trading

Volumes, Decentralised exchanges, and buy and sell pressure of all chains tokens and BSC is not an exclusion.

1. Coingecko: Coingecko is yet another great tool for researching and finding BEP20-based tokens, as it serves as crypto assets price and market cap aggregator.

You can as well find BEP20-based tokens on centralized exchanges as most of them are listed on centralized exchanges most of the time after launch.

1. Dapp Raider: Dapp raider houses a whole lot of web 3.0 projects including the likes of NFTs, GameFi, Metaverse, and Defi-based projects built on various blockchains. You might consider using these tools for your research.

Storing Your BEP20 Token in a Wallet

Research has it that it is not 100% percent safe to store your crypto assets on centralized exchanges. This is because they are unreliable and might shut down operations anytime, after the FTX effect on investors and the crypto market in general people have been skeptical about their crypto assets and the best and safe place to store these assets. However, since there have been no certain reliable places to store your crypto it is 40% safe to store them on your non-custodian wallets like metamask, Trust wallet, phantom wallet, etc. This is because of the endless hacks that have happened on these wallets and their chains as well. Nevertheless, the ledger has been said to be 80% safe to store crypto assets since it is totally offline and off computers and mobile devices. Note that this is not financial advice do your research. 

About RoboFi

Robofi is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.

About VICS

VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.

Official Link

Website | Twitter | Telegram | Telegram News | Reddit | Litepaper