BEP-20
Key Takeaways
BEP-20 is the token standard for fungible tokens on
BNB Smart Chain, defining how tokens are created, transferred, and managed.
BEP-20 token transfers require BNB to pay transaction fees, which are generally low compared to some other networks.
USDT is the most widely used BEP-20 token and a common way users interact with the standard when sending and receiving stablecoins.
Any wallet that supports BNB Smart Chain can hold and transact BEP-20 tokens, but users must confirm the correct network before sending to avoid loss of funds.
What Is BEP-20?
BEP-20 is a token standard on
BNB Smart Chain, functioning similarly to the ERC-20 standard on Ethereum. A token standard defines a shared set of rules that tokens must follow, including how they can be transferred, who can spend them, and how wallets and applications can interact with them.
BEP-20 was designed to provide a flexible framework for developers to create a range of different tokens. These can represent many things: stablecoins pegged to fiat currencies, utility tokens for decentralized applications, governance tokens, or pegged tokens that mirror assets from other blockchains so they can be used within the BNB Chain ecosystem.
All BEP-20 token transfers require
BNB to pay the gas fee. This fee compensates validators who process and confirm transactions on the network. Gas fees on BNB Smart Chain are generally low relative to some other networks, making it a practical choice for frequent transactions.
USDT BEP-20
Tether (USDT) is the most commonly used BEP-20 token. When sending or receiving USDT on BNB Smart Chain, the transaction uses the BEP-20 standard, meaning the recipient needs a wallet address on the BNB Smart Chain network rather than on Ethereum or another chain.
Network selection matters: sending USDT labeled as BEP-20 to a wallet address configured for a different network, such as ERC-20 on Ethereum, can result in funds not appearing in the expected wallet. Always confirm the network matches before initiating a transfer. Users can verify token contract addresses using
BscScan, the BNB Chain block explorer.
BEP-20 Wallets
Any wallet that supports BNB Smart Chain can store and transact BEP-20 tokens. Some popular options include Trust Wallet and MetaMask. Regardless of the wallet chosen, users should keep a small amount of BNB in the wallet to cover gas fees when sending tokens.
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