What is BEP20?
DefinitionBEP20 is the token standard of BNB Smart Chain, an EVM-compatible blockchain. It works like Ethereum’s ERC20, so BEP20 tokens such as USDT use the same kind of 0x address, but they live on a separate network and their fees are paid in BNB.
How BEP20 works
BEP20 is an extension of ERC20: each token is a smart contract with functions for balances, transfers and approvals, plus a small addition of its own. Because BNB Smart Chain runs the Ethereum Virtual Machine, the same wallets, address format and tools work on both networks.
A BEP20 token is identified by its contract address on BNB Smart Chain. A token named USDT is only genuine if its contract address matches the official one; copies with the same name and logo are common.
Same address, different network
Your 0x address is identical on BNB Smart Chain, Ethereum and other EVM networks, and that is exactly what causes mistakes. Sending USDT on BNB Smart Chain to an exchange deposit set up only for ERC20 means the funds land on a network the exchange may not credit.
If you hold the private key for the address, as with your own wallet, you can usually reach tokens sent on the wrong EVM network by switching networks. With an exchange deposit address, you depend on the exchange to help.
BEP20 vs ERC20 vs BEP2
The names look alike but describe different things:
- BEP20 (BNB Smart Chain): 0x addresses, fees in BNB, usually cheaper and faster than Ethereum
- ERC20 (Ethereum): 0x addresses, fees in ETH
- BEP2: an older standard on a different chain, with addresses that started with bnb; it is not interchangeable with BEP20
BEP20 in Waletifi
Waletifi supports BNB Smart Chain alongside Ethereum and other EVM networks on the same 0x address. The review screen shows the network and the fee before you confirm, warns you if you have no BNB for gas, and flags a token sent to its own contract address, where it would be lost.
