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Simple guide on how to stake BNB on Binance Staking (BEP2) with Ledger

Binance

Cryptocoins Exchanges / Binance 240 Views

I noticed plenty confusion while trying to sort it out myself, and in case someone is still struggling, here are the steps:

First, install Binance Chain app on your ledger from Ledger Live (in 'Manager').

Then, gather all your BNB in your Binance Chain Wallet, on the Binance Chain Network (address starting with 'bnb', blockchain referred to as BEP2). If you've done so already, then skip this bit.

  1. ensure you have the Binance Chain Wallet (BCW) chrome extension installed.. if not, set it up
  2. now move your BNB to that wallet:

    1. if from binance exchange, then may as well use BEP2 network directly. To do that, on BCW, top side, select 'Binance Chain Network' and your address will begin with 'bnb'.. copy and paste it in the withdrawal address on the exchange (ensure selected network is BEP2!).
    2. if from defi's, then on BCW select 'Binance Smart Chain', copy the ERC20 address starting with '0x', and send everything there (from Pancake Swap and etc.)
  3. from BCW, send your BNB in Binance Smart Chain to your BEP2 address starting with 'bnb'. A message will appear saying 'Note: Cross Chain Transfer to Binance Chain', which is perfectly fine.

Now, ensure that BCW is on 'Binance Chain Network', then click on account (the square in the upper right corner), and then on 'Hardware Wallet'.. Follow the shown instructions (easy), and your Ledger BEP2 address will be displayed (you'll have to pick one)! Copy it.

Switch account back to the address with BNB inside, and send it over to the ledger address you just copied. (they're both BEP2, so no issues).. Done!

Staying on the ledger account will allow to connect to that bag from the staking page :)

submitted by /u/ah__there_is_another
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