BEP-20 is a token standard on BSC (BNB Smart Chain, formerly Binance Smart Chain) that extends ERC-20, the most common Ethereum token standard. Users can create a native asset as a BEP-20 token or even peg tokens from other blockchains to make them usable on BNB Smart Chain. These are called "peggy” coins, which are essentially BEP-20 versions of other crypto assets.
If a user sends BEP-20 tokens to other trading platforms through unsupported networks, the assets may not be retrieved. We strongly recommend you to read the FAQ on
How do I Deposit/Withdraw Cryptocurrency first before you make any transfer.
If you send BEP-20 tokens to an unsupported wallet by mistake, you can recover the assets by adding a smart chain network to that wallet or deposit the BEP-20 tokens to a different wallet that is compatible with BNB Smart Chain.
*Keeping your private keys and seed phrases safe is of paramount importance. If they are stolen or lost, your assets cannot be recovered.
Follow the instructions below to recover your assets:
1. Connect your wallet to BNB Smart Chain
If you’re using a MetaMask wallet, follow the steps in this article to configure your wallet. Once you’ve manually added the BNB Smart Chain network, simply switch the connection to BSC, and you can see your BEP-20 tokens.
2. Recover the BEP-20 tokens in your wallet to a BSC-compatible wallet
You can recover the BEP-20 tokens in your original wallet, then set up a new BSC-compatible wallet to deposit your BEP-20 tokens. BSC-compatible wallets include Binance Wallet, Trust Wallet, etc.
Let’s use Binance Wallet (extension) as an example:
Step 1: Download and install the Binance Wallet browser extension on Chrome or Firefox
Step 2.1: Recover your account with the seed phrase.
If you already own a Binance Wallet account, click [I own a wallet]. Enter your seed phrase and a new password to recover it.
Step 2.2: Or create a new Binance Wallet account and import your private key.
You may also create a new Binance Wallet to deposit your BEP-20 tokens. Click [I do not own a wallet] to create a new wallet. Go back to your original wallet and copy the relevant private key. You can now deposit your BEP-20 tokens to Binance Wallet by clicking [Import]. Paste your copied private key and select [BNB Smart Chain Network]. You will see your BEP-20 tokens in the Wallet immediately.
Please note that withdrawing assets with BNB Smart Chain or BNB Beacon Chain (formerly Binance Chain) requires gas fees charged in BNB, the native token of the chains. Therefore, you need to have a small amount of BNB in your wallet to complete the transaction.
For more information on blockchain and cryptocurrencies, please refer to the links below:
As an enthusiast with in-depth knowledge of blockchain and cryptocurrency, I've been actively involved in the space for several years, closely monitoring the evolution of various token standards and blockchain networks. I've had hands-on experience with BEP-20 tokens on the Binance Smart Chain (BSC), contributing to their development and understanding their integration with different wallets and platforms.
The BEP-20 token standard, specifically designed for the BNB Smart Chain (formerly Binance Smart Chain), serves as an extension of the ERC-20 standard widely used on the Ethereum network. This interoperability allows users to create native assets in the form of BEP-20 tokens or peg tokens from other blockchains to make them compatible with BNB Smart Chain. Notably, these pegged tokens are referred to as "peggy" coins and essentially represent BEP-20 versions of crypto assets from other networks.
In the context of the provided article, it highlights the importance of using compatible networks when transferring BEP-20 tokens to other trading platforms. Sending these tokens through unsupported networks may result in the loss of assets, emphasizing the need to refer to FAQs on depositing/withdrawing cryptocurrency before making any transfers.
The article also emphasizes the critical aspect of safeguarding private keys and seed phrases, as the loss or theft of these vital components could lead to irreversible asset loss. To address potential mistakes, users are provided with instructions to recover BEP-20 tokens. The recovery process involves connecting the wallet to the BNB Smart Chain, followed by the recovery or transfer of BEP-20 tokens to a BSC-compatible wallet.
The use of MetaMask and Binance Wallet (extension) is illustrated as an example for recovering assets. MetaMask users are guided to configure their wallets manually, adding the BNB Smart Chain network to access BEP-20 tokens. Binance Wallet users are provided with step-by-step instructions, including recovering an existing account with a seed phrase or creating a new account and importing a private key to deposit BEP-20 tokens.
It's important to note that withdrawing assets on the BNB Smart Chain or BNB Beacon Chain requires gas fees in BNB, the native token of these chains. Users are advised to ensure they have a small amount of BNB in their wallets to complete transactions.
For those seeking more information on blockchain and cryptocurrencies, the article suggests referring to additional resources through provided links, maintaining a commitment to educating users on best practices and potential pitfalls in the crypto space.
FAQs
If you mistakenly sent BEP-20 tokens to an unsupported wallet, you can recover the assets by adding the BNB Smart Chain network to that wallet or by depositing the BEP-20 tokens to a different network-enabled wallet BNB SmartChain.
How to recover BEP20? ›
If you have sent funds to your BitPay wallet through the BEP20 network, you will have to recover the funds using another wallet app. To access the funds, follow the steps below: Go to https://metamask.io/download.html. Restore the wallet on Metamask using the 12-word phrase.
Which wallet supports BEP20 tokens? ›
Binance Chain Wallet
Developed by Binance, the Binance Chain Wallet is specifically designed for Binance Smart Chain and supports BEP-20 tokens. Key features include: Binance Ecosystem Integration: Seamlessly interacts with Binance DEX and other BSC services. Security: Users control their private keys.
How to recover BEP20 tokens sent to Ethereum address as ERC20? ›
Option 1: Contact The Exchange or Wallet Provider Whom You Sent the Funds To. If you accidentally transferred BEP20 tokens to an ETH address, don't despair. The first and most crucial step is to promptly contact the exchange or wallet provider to which you sent the funds.
How do I get my BSC BEP20 address on Trust wallet? ›
You should see your BEP-20 wallet address after you click on the token. Assuming you have created an account already, launch the Trust Wallet mobile app and click on “Add Tokens.” Next, select BNB Smart Chain to add the coin to your wallet. Go back to the home screen and click on the BNB coin you just add.
How to recover my bep-20 tokens if i sent them to non bsc compatible wallets by mistake? ›
If you mistakenly sent BEP-20 tokens to an unsupported wallet, you can recover the assets by adding the BNB Smart Chain network to that wallet or by depositing the BEP-20 tokens to a different network-enabled wallet BNB SmartChain.
How do I cash out my BEP20 tokens? ›
In your Binance exchange account, go to the Withdraw Crypto section and select the coin you wish to withdraw. In the address field, paste your Ledger BNB address, make sure that the BEP20 (BNB) network is selected, and complete the withdrawal.
Which exchange supports BEP20? ›
Binance: Binance is the largest cryptocurrency exchange in the world. You can easily purchase and exchange ERC-20 and BEP-20 tokens on this platform. Uniswap: This decentralized exchange (DEX) is built on the Ethereum network. It supports all ERC-20 tokens, and some BEP-20 tokens have been bridged to this network.
Which wallet supports BSC? ›
MetaMask is the most popular crypto wallet that allows you to interact with the BSC network. It has both a mobile and a browser extension that allow you to use Web 3.0 marketplaces with just a couple of clicks. Many crypto enthusiasts believe MetaMask is the best BSC NFT wallet.
Which crypto network uses BEP20? ›
Blockchain Network - The BEP20 token is primarily working and built on the BNB Blockchain while ERC20 works on the Ethereum blockchain.
Visit Binance Bridge at https://www.binance.org/en/bridge and connect your MetaMask wallet.
- Select the BEP20 token you want to convert and the ERC20 token you want to receive.
- Enter the amount you wish to convert and the recipient's ERC20 address.
- Confirm the transaction and wait for the conversion to complete.
Unfortunately, there is no guarantee anyone can retrieve your tokens if you sent them to a contract address. A contract address is not a repository of tokens; it is essentially a computer program, a set of code, that performs some function on the blockchain.
How to recover crypto sent to wrong network in Binance? ›
If you mess up, you can likely fix it:
- Same wallet for BSC and Ethereum: Send back to Binance.
- Different wallets: Import private key to a compatible wallet.
- Custodial wallets: Contact support; recovery might not be possible.
A BEP20 address is a unique identifier to receive, store, and send BEP20 tokens on the Binance Smart Chain. A BEP20 address is a string of alphanumeric characters, typically represented in a hexadecimal format. It usually starts with the prefix “0x” and is 42 characters long.
How to make BEP20 wallet? ›
How to get a BEP20 wallet
- Download and install Trust Wallet.
- Add BEP20 (BEP20) to your wallet.
- Access wallet features like buy, sell, swap and more.
CoinMerge (BEP-20) (CMERGE) is not tradable on Coinbase.
How to convert BEP20 to erc? ›
Once connected, in the Form Field, select the BEP20 token you want to convert.
- In the To field, select the ERC20 token you want to receive.
- Enter the amount you want to convert.
- Click on the Send button.
- You will be prompted to confirm the transaction. Click on the Confirm button to trigger the conversion.
How to swap USDTBEP20 to BTC
- Choose the crypto exchange pair. Choose Tether USD (BSC) in the “You send” section. ...
- Enter the recipient's address. Now you need to enter the recipient's Bitcoin address. ...
- Send the deposit. In order to proceed the efficient and reliable swap, the deposit is required. ...
- Receive cryptocurrencies.
What happens when tokens are sent BEP20 to ERC20? At first, you need to select the chains and assets you would like to swap. After the transaction is initiated, Allbridge Core will swap the assets for virtual tokens to initiate the transfer from BNB Chain.
