Using Exchange feature on Trezor One to receive BNB and storing BNB in trezor using MetaMask - invalid recipient adress

Coins and transactions
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1

Hi!

My goal is to exchange some of my BTC for some BNB through using the direct exchange feature built in within Trezor.
To accomplish it I have already installed metamask and I have set up a RCP
BNB-network-account using this small tutorial:

I have copied the address of this BNB-account on metamask and headed over to trezor suite where I have navigated to my BTC-account → trade → exchange.
Here I have set as usual the amount of BTC I want to spend → selected as receiving coin ‘BNB’ and compared offers.
Once decided for an offer option, I wanted to proceed and have been prompted as usual to provide the receiving address. So I have entered the beforehand copied address of my BNB-account on metamask but I got the message that apparently this receiving address in invalid i.e. not correct.

What went wrong? Is it even possible to purchase some BNB for exchange of another coin using the built in exchange feature in the trezor device itself and then store it at trezor via metamask?

I am grateful for any help!

Best wishes
Dr. Timbo

2

Hi @Dr-Timbo,

first, I would like to mention that there are several different types of BNB:

  1. BNB as an ERC20 token on the Ethereum network. ERC20 tokens are natively supported in Trezor Suite. This token is supported by both Trezor models (Trezor Model One, Trezor Model T)

  2. BNB as a native token on Binance Smart Chain - EVM compatible network. This BNB can be sent to the address that uses the same format as ETH addresses (however, it uses a different network - BSC). This is the one that you most likely wanted to purchase with the exchange feature in Trezor Suite and send to your MetaMask. This token is also supported by both Trezor models (Trezor Model One, Trezor Model T).

  3. BNB as a native token on Binance Chain. Addresses on Binance Chain start with “bnb”, and you need to pair 3rd party application Binance Wallet with your Trezor to get such address. This token is supported only by Trezor Model T.

Unfortunately, you can buy/exchange only the last mentioned type of BNB with Trezor Suite “Trade” feature right now. That is why your ETH address was not accepted as valid. The address validator expects Binance chain address that starts with “bnb”.

To be able to buy BNB listed in point 1. and 2. you need to use some other way for purchasing these types (some exchange for example). Then you can send it to the address generated by your MetaMask (ETH format).