If you have a cryptocurrency wallet that supports both the ERC20 network and the Binance Smart Chain (BEP20), you may have noticed that the deposit address is the same for both networks.
Since both of them have the same address, would your tokens be sent to the correct wallets?
Here’s what you need to know.
Contents
1 Why do BEP20 and ERC20 wallets have the same address?
2 What happens if you send a BEP20 token to an ERC20 address?
3 What happens if you send an ERC20 token to a BEP20 address?
4 Conclusion
Why do BEP20 and ERC20 wallets have the same address?
The BNB Smart Chain (BEP20) is compatible with the Ethereum Virtual Machine (EVM), which means that it is a modified Ethereum fork that is compatible with the Ethereum (ERC20) network. Since both blockchain networks are somewhat similar to each other in terms of their infrastructure, they have the same deposit address for depositing cryptocurrencies into your wallet.
Since the deposit address is exactly the same, what matters more is the network that you’ve selected to withdraw the tokens to your address.
The address doesn’t matter, but the network does
If you are withdrawing a cryptocurrency from a platform that supports both the BEP20 and ERC20, you will usually be given the option to select which network you would like to use to withdraw that cryptocurrency.
Usually, the withdrawal fees on the BNB Smart Chain (BEP20) are cheaper than on the ERC20 network. This is because the BNB Smart Chain is usually less congested.
This is a very important step, especially since both the BEP20 and ERC20 have the same address. There are some platforms that only support ERC20 deposits, but not BEP20 ones.
If you are looking to deposit BNB on Nexo, you will have to use the Binance Chain (BEP2), instead of the BNB Smart Chain (BEP20)!
As such, you should only be sending cryptocurrencies to these platforms via the ERC20 network, and not the BEP20.
If you do so, your cryptocurrencies may be lost forever!
What happens if you send a BEP20 token to an ERC20 address?
If you send a BEP20 token to an ERC20 address, you will still be able to view the BEP20 token if the platform that you’ve sent your token to supports the BNB Smart Chain (BEP20). However, if your platform does not support the Binance Smart Chain, your tokens may be lost forever.
When you are sending cryptocurrencies from one platform to another, it is important to ensure that the platform you’re withdrawing to supports the network that you are using to withdraw.
For example, you may want to send SHIB from Binance to Trust Wallet. Since both platforms support the ERC20 and BEP20 networks, it depends on which network you’ve selected to withdraw from Binance.
However, if you’re sending your SHIB from Binance to KuCoin, KuCoin only supports ERC20 deposits of SHIB. This means that you should only be sending SHIB from Binance to KuCoin via the ERC20 network.
If you send it via the BEP20 network, your SHIB may be lost since KuCoin does not support the BNB Smart Chain.
Some platforms separate BEP20 and ERC20 deposits, while others aggregate them together
There are some platforms like Trust Wallet which segregate the BEP20 and ERC20 versions of the token from each other.
However, there are other platforms like Binance where both BEP20 and ERC20 deposits will be aggregated into the same wallet.
This is something that you may want to take note of. If you send the ERC20 version of a token to another platform, the transaction fees can be quite high.
By sending it to a platform that aggregates both BEP20 and ERC20 deposits, you still are given the option to use either network to withdraw later on.
However, if you deposit an ERC20 token to platforms like Trust Wallet, you can only use the ERC20 network to withdraw from this platform. This may make the transaction fees really costly!
Adding the Binance Smart Chain on Metamask
If you’ve sent a BEP20 token to your Metamask wallet, you will need to add the BNB Smart Chain first so that you can view the tokens you’ve sent.
The next step you’ll need to do is to import the token that you’ve sent over to your Metamask wallet. This allows you to view your token in the wallet.
Otherwise, you will only be able to see your BNB balance in your account!
You can find out more about importing a token on the Binance Smart Chain to Metamask, such as SHIB, BTCB or TITANO.
What happens if you send an ERC20 token to a BEP20 address?
If you send an ERC20 token to a BEP20 address, you will still be able to view the ERC20 token if the platform that you’ve sent your token to supports the ERC20 network. However, if your platform does not support the ERC20 network, your tokens may be lost forever.
In most cases, a platform that supports the BEP20 network should support ERC20 deposits.
However, there are times when this is not necessarily true!
It would be good to double-check that the platform that you’re withdrawing to supports the ERC20 network, before you choose to make the withdrawal.
Both ERC20 and BEP20 are EVM-compatible networks, and you can find out more about them below:
Conclusion
Both ERC20 and BEP20 have the same deposit address, as BEP20 is a fork (aka a copy of the code) of ERC20.
However, it is important to take a look at the networks that are supported by the platform you’re withdrawing to.
If the platform only supports ERC20, and you send a BEP20 token to the ERC20 address, your tokens may be lost forever!
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Both ERC20 and BEP20 have the same deposit address, as BEP20 is a fork (aka a copy of the code) of ERC20. However, it is important to take a look at the networks that are supported by the platform you're withdrawing to.
WHAT HAPPENS WHEN YOU SEND BEP20 TOKENS TO ERC20 ADDRESS? Because the Bep20 and Erc20 token standards are similar in code structure and function with only a few differences, coins sent interchangeably to them are not gone forever; they can still be retrieved.
You can convert BEP20 to ERC20 using several different methods. -The most popular method is to use cryptocurrency exchanges that offer this type of conversion. -Another option is to use the Binance Smart Chain Bridge. -A bridge is a tool that allows you to transfer assets from one blockchain to another.
If you want to trade your ERC-20 tokens on a decentralized exchange such as PancakeSwap CAKE $2.546 ,you need to wrap them on Binance Bridge to convert them into BEP-20 assets(Binance Smart Chain token standard),It can then be used on Binance Smart Chain.
ERC-20 is a technical standard for tokens that are built on the Ethereum blockchain. When you have different ERC-20 tokens, you can use the same Ethereum address to store and manage all of them. An Ethereum address is a unique string of characters that is used to send and receive Ethereum and ERC-20 tokens.
Conclusion. To sum up, the token developed by the BEP20 standard is implemented in the on-chain and BSC crossed-chain networks. Therefore, it has more advantages in transaction speed and lower fees compared to Ethereum's ERC20 token because it processes through the PoSA mechanism.
ERC-20 and BEP-20 standardize how tokens interact with different wallets, projects, and smart contracts. The two standards are very similar in mechanism, but ERC-20 is dedicated to Ethereum, and BEP-20 is dedicated to Binance Smart Chain. Simply put, each is a token standard that belongs to a different blockchain.
The main difference between BEP20 and ERC20 is their underlying blockchain protocol. ERC20 is based on Ethereum's blockchain, while the BEP20 is based on Binance Chain. As a result, ERC-20 tokens are more widely accepted due to the blockchain and the fact the token standard has been around longer.
What Is ERC-20? ERC-20 is the technical standard for fungible tokens created using the Ethereum blockchain. A fungible token is interchangeable with another token—where the well-known non-fungible tokens (NFTs) are not interchangeable.
BEP-20 is a token standard on the Binance Smart Chain that extends ERC-20, the most common Ethereum token standard. Phemex currently supports Binance Smart Chain for USDT (BEP20). You can deposit and withdraw USDT BEP20 on Phemex.
BEP-2 is the token standard for minting and deploying tokens on the Binance Chain. BEP-20 is a token standard for Binance Smart Chain – it's compatible with BEP-2 and ERC-20 standards. ERC-20 is the technical standard for building and implementing smart contracts on the Ethereum blockchain.
If you sent funds to the wrong address, you'll need to contact the receiving party and ask for their cooperation in returning the funds. If you do not know the owner of the address, there are no possible actions you can take to retrieve the funds.
Typically, the ERC20 wallet address is an Ethereum address. More so, all Ethereum addresses are compatible with storing ERC20. Also, all Ethereum wallets are actually connected to the Ethereum blockchain. Therefore, the ERC20 address will mean an address in the Ethereum platform.
Yes, you can send ERC20 tokens to an Ethereum (ETH) address. ERC20 tokens are built on the Ethereum blockchain and use the same address format as ETH. This means that you can send ERC20 tokens to any Ethereum address, including those that hold ETH.
The main reason for the high fees of Bitcoin miners is the organic market. Bitcoin BTC $29196.3 block size is 1MB,which means that miners can only confirm 1MB of exchange value for each square(like clockwork). This is why the excavator fees on ERC-20 are so high.
Can I send BEP20 to ERC20? Yes, Allbridge Core enables you to stablecoin assets between BNB Chain and Ethereum. At launch, Allbridge Core will support USDT, USDC, and BUSD assets, with more potential chains and tokens on the roadmap.
BEP20 is cheaper to trade than BEP2, thanks to its lower gas and transaction fees. BEP2 does not support smart contracts. Most developers prefer the BEP20 blockchain because dApps rely on smart contracts for their functionality.
A SONM (BEP-20)(SNM) withdrawal fee is a fee charged by the platform or wallet you are using to transfer or withdraw your SONM (BEP-20)(SNM) to another wallet or exchange.
0xB8c77482e45F1F44dE1745F52C74426C631bDD52 is the BNB BEP20 Token Address. Due to the similarities between ERC-20 for Ethereum and BEP-2 for BNB Beacon Chain, it is compatible with both.
There are many cryptocurrencies available today, and Trust Wallet supports a large number of them. It allows you to purchase, sell, and swap different coins, blockchains, and other digital assets, delivering full cryptocurrency management functionalities.
Yes, it is possible to swap between TRC20 and BEP20 tokens with Allbridge Core. By accessing this link, you can initiate a cross-chain swap from USDT TRC20 to BEP20. In addition to Tron and BNB Chain, Allbridge Core also features the native stablecoin swaps between Ethereum and Solana.
Trust Wallet is a mobile wallet company for Ethereum and ERC20/ERC223 tokens. It provides provide a fully security audited system that makes it simple to store your cryptocurrency.
Trust Wallet is the premier mobile ethereum wallet which works with any ERC20, BEP2 and ERC721 tokens. Trust Wallet also supports the main blockchains in the Ethereum ecosystem - Ethereum, Ethereum Classic and Callisto.
You can use Coinbase Wallet to send and receive supported cryptocurrencies and digital assets such as ERC-20 tokens. Coinbase Wallet supports the following networks: Ethereum, Polygon, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, Ripple, and Solana.
Contact the Recipient. If the funds were sent to an address that is under the control of another person, it may be possible to recover them by contacting the recipient. It's important to provide as much information as possible, including the transaction hash, the amount sent, and the date and time of the transaction.
ERC-20 and BEP-20 standardize how tokens interact with different wallets, projects, and smart contracts. The two standards are very similar in mechanism, but ERC-20 is dedicated to Ethereum, and BEP-20 is dedicated to Binance Smart Chain. Simply put, each is a token standard that belongs to a different blockchain.
To purchase and/or store tokens deployed on the BNB Smart Chain network, you need a Binance Smart Chain wallet and its corresponding Binance Smart Chain wallet address (BEP-20 address) which is the identity of your wallet on the blockchain..
On the other hand, the BEP-20 tokens have wallet addresses that are quite similar to that of the Ethereum blockchain. You can notice that the wallet addresses for BEP20 tokens start with “x0” in the beginning, like Ethereum wallet addresses.
0xB8c77482e45F1F44dE1745F52C74426C631bDD52 is the BNB BEP20 Token Address. Due to the similarities between ERC-20 for Ethereum and BEP-2 for BNB Beacon Chain, it is compatible with both.
Conclusion. To sum up, the token developed by the BEP20 standard is implemented in the on-chain and BSC crossed-chain networks. Therefore, it has more advantages in transaction speed and lower fees compared to Ethereum's ERC20 token because it processes through the PoSA mechanism.
Trust Wallet provides a user with a unified wallet address that can be used to manage Ethereum and all ERC20 tokens. That means you can use the same address to participate in many airdrops, as well as to send and receive Ethereum. Trust Wallet is intuitive and easy to understand yet packed with tons of useful features.
The main difference between BEP20 and ERC20 is their underlying blockchain protocol. ERC20 is based on Ethereum's blockchain, while the BEP20 is based on Binance Chain. As a result, ERC-20 tokens are more widely accepted due to the blockchain and the fact the token standard has been around longer.
To find the address of your smart chain in the trust wallet, all you have to do is search for the name of Smart Chain through the option to add tokens, so that if this token is disabled, we will activate it.
If you haven't noticed already, your BEP-20 tokens' receive address actually has the same format as ETH address and starts with “0x…”, so make sure you state clearly to your sender which token you want to receive, and which network you want to receive.
BEP-20 is a token standard on BNB Smart Chain (BSC) that extends ERC-20, the most common Ethereum token standard. You can think of it as a blueprint for tokens that defines how they can be spent, who can spend them, and other rules for their usage.
Yes, you can send Ethereum (ETH) and ERC20 tokens using MetaMask. Here are the steps to send ETH or ERC20 tokens using MetaMask: Open your MetaMask wallet and click on the "Send" button.
To be able to create a token on the BNB chain, you need to add the Binance Smart Chain to your MetaMask account or the wallet of your choice. As we are creating a smart contract, we will be using the integrated Binance Smart Chain. Open the “Networks” Page in Metamask and click on “Add network”.
Introduction: My name is Horacio Brakus JD, I am a lively, splendid, jolly, vivacious, vast, cheerful, agreeable person who loves writing and wants to share my knowledge and understanding with you.
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