Glossary · Crypto

BEP20 meaning: what is the BEP20 network?

BEP20 is the technical standard for tokens on BNB Smart Chain; "USDT (BEP20)" means Tether sent over BNB Smart Chain, with fees paid in BNB and an address that starts with 0x like an Ethereum one.

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Short answer

BEP20 means "a token on BNB Smart Chain". BNB Smart Chain (often shortened to BSC or BNB Chain) is a blockchain linked to the Binance ecosystem, and BEP20 is its token standard, a near copy of Ethereum's ERC20. On a withdrawal screen, BEP20 is the network option for sending a token such as USDT over BNB Smart Chain, usually for a low fee paid in BNB. Because BEP20 and ERC20 addresses look identical, picking the wrong one of the two is a very common mistake.

Key takeaways

  • ERC20's twin on another chain. Same functions, same 0x address format, different blockchain.
  • Fees are paid in BNB. A wallet needs a little BNB to send a BEP20 token.
  • BEP20 is not BEP2. BEP2 was the format of the older BNB Beacon Chain, which has been retired.

What BEP20 is

BEP stands for BNB Evolution Proposal, the way changes to the BNB chains are proposed, and BEP20 is the proposal that defines how tokens work on BNB Smart Chain. It copies the functions of ERC20 almost one for one: check a balance, check the total supply, send tokens, and approve another address to spend them.

BNB Smart Chain launched in 2020 as an Ethereum-compatible network with lower fees, and it was built so that Ethereum wallets, tools and smart contracts work on it with little change. Its own coin, BNB, pays for transactions in the same way ETH does on Ethereum. Many tokens exist in both an ERC20 and a BEP20 version, including USDT and a Binance-issued version of USDC.

BEP20 vs ERC20 vs BEP2

BEP20ERC20BEP2 (retired)
BlockchainBNB Smart ChainEthereumBNB Beacon Chain
Fee paid inBNBETHBNB
Address starts with0x0xbnb
Memo for exchange depositsRarelyRarelyUsually required
Typical fee levelUsually lowVaries, can be high when busyNo longer in use

BEP2 belonged to the original Binance Chain, later renamed BNB Beacon Chain, which was shut down in 2024 after its assets were moved across. You may still meet the name in older guides and old exchange screenshots; in current use, BEP20 is the BNB network option that matters.

Why BEP20 and ERC20 get mixed up

An address on BNB Smart Chain and an address on Ethereum have the same format: 0x followed by 40 characters. A self-custody wallet such as MetaMask shows you the very same address on both networks. So when you paste an address, nothing tells you which chain it is meant for. Only the network you choose on the sending screen decides where the tokens go.

What happens next depends on who controls the receiving address:

  • Your own self-custody wallet: the tokens are safe on BNB Smart Chain. Add or switch to that network in the wallet and they appear.
  • An exchange or broker deposit address: if the platform does not support BEP20 for that coin, the deposit is not credited automatically. Some platforms recover such deposits for a fee; some cannot.

Tron addresses are different again: they start with T, so sending BEP20 to a TRC20 address is normally refused at the address check.

How to send BEP20 tokens safely

  • Read the deposit page first. Use BEP20 only if the receiver lists the coin with BEP20, BSC or BNB Smart Chain as a network.
  • Keep a little BNB. A self-custody wallet needs BNB on BNB Smart Chain to pay the fee for sending any BEP20 token.
  • Check the whole address after pasting, not just the first and last few characters, because look-alike addresses are a known scam.
  • Send a test amount to any new address, wait for it to arrive, then send the rest.

For holding funds yourself, the wallet's recovery words matter more than any network choice; see seed phrase.

Written and reviewed by the MarketPro research desk

MarketPro is a trading-signal and trading-education app operated by Harajuku Holdings LTD (Cyprus). Our signal desk publishes and tracks every trade idea in-app, and every page here is checked against the app's live behaviour before publishing. Last reviewed . How we produce signals and content · About MarketPro

FAQ

Frequently asked questions

What does BEP20 mean in USDT?
It means the USDT is on BNB Smart Chain. It is the same Tether as on Ethereum or Tron, carried on a different blockchain, with fees paid in BNB.
Can I send BEP20 to an ERC20 address?
The address format is the same, so the transfer goes through, but the tokens land on BNB Smart Chain, not Ethereum. If it is your own wallet you can switch networks to see them; if it is an exchange that does not support BEP20, recovery is uncertain.
Is BEP20 the same as BSC?
Near enough in everyday use. BSC (BNB Smart Chain) is the blockchain; BEP20 is the token standard on it. Exchanges use BEP20, BSC and BNB Smart Chain as labels for the same network option.
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