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Managing BNB Smart Chain & BEP-20 Tokens in Trezor Suite

BNB Smart Chain (BSC) is a blockchain network developed by Binance, officially launched on September 1, 2020. BSC enhances the capabilities of the broader BNB Chain ecosystem, enabling seamless interaction with decentralized applications (DApps), decentralized finance (DeFi) platforms, and other blockchain-based innovations.
 

BNB Smart Chain is a popular choice for memecoins and various projects thanks to its low transaction fees and user-friendly accessibility. These low fees are made possible in part because Binance operates a significant number of the network’s validators. However, this centralized validator structure makes BNB Smart Chain one of the less decentralized major cryptocurrency networks compared to alternatives like Ethereum.

 

There are multiple Binance blockchains. Support in this context is specific to BNB Smart Chain only. Ensure you are interacting with the correct chain to avoid potential issues.


How to use BNB Smart Chain with Trezor


Overview

 
Firmware (device) support 2.6.1 (Trezor Safe 5), 2.8.1 (Trezor Safe 3 2024 version), 2.6.1 (Trezor Safe 3 2023 version), 2.3.5 (Trezor Model T), 1.9.4 (Trezor Model One) 
Available in Trezor Suite? Yes
Third-party wallets MetaMask, Exodus, Rabby, Ronin
 


Trezor Suite

BNB Smart Chain is natively supported in Trezor Suite from version 24.11.2 onwards. To access your BNB Smart Chain accounts, please follow these steps:
 

• Click on the plus [+] symbol on the left pane:
 



• Choose BNB Smart Chain from the list, confirm the selection by clicking on Find my BNB Smart Chain accounts:

 


• Your BNB Smart Chain account is now listed among your default accounts: 
 
 

Third-party wallets


BNB Smart Chain can be safely used with several third-party wallets and services while Trezor Suite fully protects your wallet backup. Suitable third-party wallets include:
 

Metamask
Exodus

Rabby

Ronin

 

Smart contracts


BNB Smart Chain smart contracts are self-executing agreements where the terms are directly written into lines of code.
 

These contracts run on the BNB Smart Chain. The contract code is publicly accessible, ensuring all parties can see exactly how it operates and what it does.
 

When specified conditions are met, the contract automatically executes, enabling secure, transparent, and tamper-proof transactions on the BNB Smart Chain without the need for intermediaries.
 

Malicious smart contracts are common on BNB Smart Chain. Proceed with caution and always make sure you know what you are doing when you are interacting with a smart contract. Scammers often manipulate victims into hastily interacting with a malicious smart contract - always be vigilant.

 

BNB Smart Chain and fees


BSC utilizes a fixed gas fee structure, with each transaction costing around $0.005. A full explanation of how fees are calculated on BNB Smart Chain is on the official BNB Smart Chain documentation here.
 

BSC block time is approximately is 3 seconds, ensuring rapid transaction confirmations and an overall smoother user experience.
 

BEP-20 Tokens


BEP-20 tokens are a type of digital asset that operates on the Binance Smart Chain (BSC), which is a blockchain platform developed by Binance. This token standard extends the ERC-20 standard used on Ethereum, providing a framework for creating and managing tokens within the BSC ecosystem.
 

How to use BEP-20 tokens with Trezor


BEP-20 tokens operate on the BSC blockchain. You can store them using your BSC account in Trezor Suite.

Every BEP-20 token can be stored using a Trezor device, as detailed in the following step-by-step guide:
 

  1. Open Trezor Suite (desktop or browser version)
  2. Choose BNB Smart Chain from the My accounts panel on the left.
  3. Go to the Receive  tab.
  4. Click 'Show full address'.
  5. Check that the address shown in Suite matches the one displayed on your Trezor.
  6. Copy the receiving address and use it as the destination address for sending your BEP-20 tokens.
  7. Once you have sent some tokens to the address, go to the Tokens  menu.

 

Some of the BEP-20 tokens will not be recognized by Trezor firmware, but they still can be stored and sent using Trezor. The user has to specify the contract address of this token, and it will be shown as an "unknown token".

 

Using BscScan to find a token's contract address


If you do not know the contract address of the token you want to add, you can try searching for it on BscScan by following these steps:
 

  1. In the search bar, type the ticker for your coin
  2. Make sure you select the correct one , as multiple tokens can use the same ticker. Fake tokens are common on BSC - proceed with caution.
  3. You will see the contract address on the right-hand side.
 
Warning: Always double check the address against the token project's official site and make sure it is correct, as some tokens may use multiple smart contracts or you may encounter a fake smart contract.


In general, the contract address you are looking for will be shown alongside the supply, price, and other information. Contracts that are used for functionality alone will generally not show that information.