Introduction
When depositing or withdrawing cryptocurrencies on exchanges like Binance or Bybit, you'll encounter network options such as BEP2, BEP20, ERC20, OMNI, and TRC20. Understanding these networks ensures seamless transactions and avoids costly mistakes. Here’s a breakdown of their differences and use cases.
Network Address Formats
1. BEP2 (Binance Chain)
- Purpose: Native tokens on Binance Chain (e.g., BNB).
- Address Format: Starts with
bnb(e.g.,bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23). - Key Feature: Requires a MEMO tag for transactions.
2. ERC20 (Ethereum Network)
- Purpose: Tokens built on Ethereum (e.g., USDT, LINK).
- Address Format: Starts with
0x(e.g.,0x0e806cea8e5beba6df97354ef7f22b66c5a2ce82).
3. OMNI (Bitcoin Network)
- Purpose: Tokens like USDT-OMNI.
- Address Format: Starts with
1or3(e.g.,1JKhrVV9EsgSS5crXLBo9BRVXyuHjf2Tcp).
4. TRC20 (TRON Network)
- Purpose: Tokens on TRON (e.g., USDT-TRC20).
- Address Format: Starts with
T(e.g.,TWsVAb9EWAgKdumTD7XoEdkvs7AoyvkgN7).
👉 Compare crypto networks for optimal transfers
BEP20: The Binance Smart Chain Standard
What Is BEP20?
- Purpose: Tokens on Binance Smart Chain (BSC), compatible with Ethereum’s ERC20.
- Address Format: Same as ERC20 (
0x), but transactions occur on BSC. Advantages:
- Lower fees (<$0.10 per transaction).
- Faster block times (~3 seconds).
Pegged Tokens Explained
BEP20 tokens are 1:1 pegged to their native counterparts (e.g., BTCB for Bitcoin, ETH for Ethereum). These enable cross-chain trading on decentralized exchanges (DEXs) like PancakeSwap.
Example:
- Deposit ERC20 USDT → Withdraw as BEP20 USDT (same value, different chain).
Key Differences: ERC20 vs. BEP2 vs. BEP20
| Feature | ERC20 (Ethereum) | BEP2 (Binance Chain) | BEP20 (BSC) |
|--------------|------------------|----------------------|-------------|
| Chain | Ethereum | Binance Chain | Binance Smart Chain |
| Address | 0x | bnb | 0x |
| Fees | High gas fees | Low | Very low |
| Use Case | DeFi, NFTs | Binance DEX | Cross-chain swaps |
👉 Explore BSC tokens for low-cost trading
FAQs
1. Can I send BEP20 tokens to an ERC20 address?
No. Despite identical formats, they’re on different chains. Always verify the network.
2. Why does Binance offer multiple networks for the same coin?
To provide flexibility—e.g., use TRC20 for cheap USDT transfers or ERC20 for Ethereum DeFi.
3. How do I recover tokens sent to the wrong network?
Contact the exchange’s support. Self-recovery is rarely possible.
4. Is ETH an ERC20 token?
No. ETH is Ethereum’s native coin; ERC20 tokens (e.g., USDT) are built atop it.
5. Which network is best for withdrawals?
- Speed/Cost: BEP20 or TRC20.
- Compatibility: ERC20 (for Ethereum apps).
Pro Tips
- Double-check addresses: Exchanges warn if the network doesn’t match.
- Use BscScan: Track BEP20 transactions at bscscan.com.
- Wallet Support: Trust Wallet and MetaMask (with BSC configuration) handle BEP20 tokens.
Need help? Reach out to your exchange’s support team!
Further Reading: