What is BEP-20?
BEP-20
BEP-20 is a token standard in Binance Smart Chain that effectively extends ERC-20 and BEP-2 tokens. The standard has additional features that allow users to transfer tokens and perform other operations between different blockchains.
With BEP-20,
you can:Use compatible tokens on different blockchains.
Pegging to tokens in other blockchains makes it applicable to Binance Smart Chain (BSC) (i.e. Pegged Bitcoin in BSC — “BTCB”).
Swap BEP-2 tokens for equivalent BEP-20 tokens (transfer BNB from BEP-2 to BEP-20).
Enjoy transaction fees as low as $0.05 and block times of 3 seconds.
To learn more about the BEP-20 standard, check out the proposed draft on Github .
How to withdraw BEP-20 tokens
Dozens of exchanges support the withdrawal of BEP-20 to BSC compatible wallets without the need to manually convert BEP-2 tokens to BEP-20. By withdrawing BEP-20 tokens directly, you can completely skip the intermediate step of converting tokens to BEP-20, effectively saving time and money (fees).
Withdraw BEP-20 tokens on Binance
In the following content, we will introduce the detailed process of withdrawing BNB from Binance to Trust Wallet. The withdrawal process for all digital currency exchanges and wallets is very similar.
Before you start, you need to check Trust Wallet (or any other BSC compatible wallet) and get a BSC receiving address. This operation is very simple, just open the wallet, select the smart chain and click “Receive”. The address will be displayed on the screen. Please save this address for use in Step 3 of the guide below.
1. Log in to your Binance account. Select “Wallet” in the upper right corner and click “Overview”.
2. In “Wallet Overview”, click “Withdraw” in the upper right corner.
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3. After entering the withdrawal menu, select the token to be withdrawn (BNB in this example) and enter the withdrawal address (obtained from Trust Wallet). Then select Binance Bridge Smart Contract Development Services as the transfer network and enter the withdrawal amount.
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4. After selecting Binance Smart Chain as the transfer network, a pop-up window will appear on the screen to test your BSC knowledge base and confirm that you understand what you are doing. After passing the test, click Submit.
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5. The next steps are the same as any other withdrawal operation. The system will display a confirmation screen informing you of the exchange rate and handling fee and allowing you to view the transaction details again.
6. Once confirmed, you will need to enter the verification code to approve the withdrawal.
After the operation, your transaction will be processed quickly. Funds should be credited to your Trust Wallet balance (off the Smart Chain) within minutes of receiving the withdrawal confirmation email. Build a cross chain bridge After the funds arrive, Trust Wallet will send a notification that BEP-20 BNB tokens have been successfully deposited into the account.
By following the above steps, you do not need to manually convert BEP-2 to BEP-20, which effectively saves time and handling fees. Once Trust Wallet has received your deposit, you can freely interact with all BSC dApps or projects without any other delays.