The Fools guide to the BSC, or how I learned to love the Moon

I don’t know if these statements are endorsed by the TEST Team.

None of this is financial advice.
None of us know what we are doing.

Moving funds to binance smart chain

The easiest way to move funds to binance smart chain is probably through trust wallet.

For America from binance.us

For rest of world binance.com

Set up new trust wallet with multi coin.

Make sure to have both bnbs selected as coins.

One is yellow with white, labeled bnb, this is in the binance chain, the dumb chain.

the other is black with yellow, labeled smart chain. Get it?

Send your bnb from binance.us or binance.com to your trust wallet bnb (binance chain, 'dumb chain') address by copying the trust wallet address from trust wallet and pasting it in binance.

If you didn't screw anything up, funds should shortly leave your binance account and end up in your trust wallet as yellow and white bnb.

Then click on the yellow and white bnb in trust wallet, click on the three dots, 'more'

Click, swap to smart chain

Rada

Your bnb is now black and yellow.

Wait, What? Doctor Steve Brule’s Fools Rules brought to you by Fools Tools

Wait, WHAT!? Not all BNB is the same? No, BNB purchased on Binance.com or Binance.us is not on the same chain as TEST. The BNB or other Token you likely started with and purchased on Binance is likely still on the Binance Chain. The Binance Chain is a smaller, “dumber” blockchain, which does not allow for the operation of ‘smart contracts’. In this sense you can think of the binance chain tokens as only a tradable asset, without function.

On the other-hand, the Binance Smart Chain allows for Tokens to deploy with what are known as “smart contracts”. These smart contracts allow for a greater level of function within the token itself, and even allow for the automation of very complex tasks, such as arbitrage, exchanging, and pooling funds. In this manner the smart chain allows for a far more decentralized environment, where anyone can deploy a smart contract that has levels of function within its code. Sometimes this is good, sometimes this is bad, and sometimes this is completely by accident. You may be hesitant to join the world of defi, due to the large level of exploits and hacks going on. Let me assure you that it is no different than it has ever been, and no different than in will ever be.

The only thing that can ever be assured to increase is user and owner knowledge. Questions you should be asking aren’t, what is this worth, but more, what does this do? what can this do? Think of TEST TOKEN as an all access pass to the latest one stop-shop in DeFi.

Find Tokens you forgot about quickly.

Track Yields and LP pools you may have forgotten about.

Exchange Tokens.

Chart Tokens.

Track Your Buy and Sells in Charts.
E-Mail Price Alerts.
Loss Reverser.

All in One Place, for the first time ever.

In a world of anonymous teams and devs, the TEST team is fully doxxed, their faces are unfortunately everywhere. The contract is Audited, and it is safe. It would be preposterous for this team to rug at this point, because they have put in so much work. In the last seven days I think there have been daily updates to FoolsTools. Large Updates, not font changes, releases of entirely new features. The team is hyper responsive, and very excited to make additions to their work. I believe the motto is “Work Hard, Play Harder”.

Wait, What is the difference between a centralized exchange and a decentralized exchange. ?

A centralized exchange, such as Binance, holds all tokens being traded in what is known as a ‘hot wallet’, it is generally a large wallet holding everything, and then the Exchanges app and internal servers keep track of what in that wallet is allotted to every account. A decentralized exchange on the other hand, holds no tokens on its own in the traditional manner, and users must hold tokens in their own private wallet, which they then connect to the exchange, perform trades, and then smart users generally disconnect from the exchange.

Wait, What do you mean not my keys not my wallet?

Unless you have a wallet with a private generated key, the funds that you think are yours are not really yours. You have an account with a company that holds your money for you, and allows you to trade on its servers. This is very similar to margin trading, one such episode much of the world watch for a week was the Robinhood Reddit Saga.

Other things to google for new users.

Wait, Margin What?

Wait, What is a smart contract?

Wait What is CrossChain?

Wait What are Chains Anyway?

How to get money onto smartchain in the first place [US, EU, BRAZIL, CHINA, ET AL]

Another problem in this brave new world of decentralization is that things move fast, and there are so many of them, it was almost impossible to keep track of everything without a giant spreadsheet with links to as many different exchanges and websites as there were tokens.

No longer. Fools tools is like a roomba, it helps you find those little nuggets you forgot about. Didn’t even know you dropped them.

https://www.foolstools.net/