BNB FAQs - Learn more about BNB
All you need to know about the transition from the ERC20 to BEP2 and BEP20 versions of BNB (BNB) inside your Exodus wallet.
In this article:
- What happened to the ERC20 version of Binance Coin (BNB)?
- Where can I see my ERC20 Binance Coin (old) wallet?
- What is the BEP2 version of BNB?
- What is the BEP20 version of BNB?
- How do I swap my Binance Coin (old) to the new BNB?
What happened to the ERC20 version of Binance Coin (BNB)?
Binance originally released their asset in the form of an ERC20 token running on the Ethereum network. The Binance team decided to upgrade their asset and create their own mainnet blockchain version. It's possible to swap your old ERC20 BNB tokens for the new mainnet versions of BNB.
Where can I see my ERC20 Binance Coin (old) wallet?
You can only see your ERC20 Binance Coin (old) on the desktop version of Exodus wallet.
What is the BEP2 version of BNB?
The BNB Beacon Chain (BEP2) was launched in 2019. This blockchain was created to allow its users to send or trade their BNB at a faster and more cost-efficient rate. BEP2 BNB tokens are BNB tokens that live on the BNB Beacon Chain.
BEP2 BNB addresses start with "bnb...".
What is the BEP20 version of BNB?
The BNB Smart Chain (BEP20) is another blockchain that runs alongside the BNB Beacon Chain. BEP20 BNB tokens are essentially that BNB lives on the BNB Smart Chain.
Also referred to as BSC, the BNB Smart Chain features smart contract functionality. It was created to address the scalability issues experienced by the Ethereum network. This means that BSC can allow for faster BEP20 token transactions for cheaper network fees.
The BNB Smart Chain operates independently of the BNB Beacon Chain and is compatible with the Ethereum Virtual Machine (EVM). BSC addresses share the same address format (0x...) as Ethereum addresses. This makes it possible to inadvertently send BEP20 tokens to an Ethereum receiving address, as they share the same address formats.
Exodus Desktop and Mobile supports custom tokens on BNB Smart Chain. For more information on how to add custom tokens, see: How do I add a custom token?
How do I swap my Binance Coin (old) to the new BNB?
Exchanging your ERC20 BNB tokens for mainnet BNB can be done simply by depositing the ERC20 BNB tokens into your Binance account.
- On your web browser, navigate to https://www.binance.com and log in, or use https://www.binance.us/en if you're in the United States.
Click on a)
Wallet at the top right, then click on b)
Fiat and Spot.
BNB under the Coin dropdown menu, and then b)
ERC20 under Network. Copy your ERC20 BNB deposit address by clicking c) the
- Finally, send your ERC20 BNB tokens to the copied address. Here's a guide that'll show you how to do this: How to send crypto using your Exodus desktop wallet
- Open your Binance app on your mobile phone.
- Tap the Wallet icon located at the lower right corner of your screen.
- Tap the Deposit icon located near the upper left corner of your screen.
- Tap the a) Crypto tab, then select b) BNB.
- Tap the Ethereum (ERC20) network when prompted.
- Tap Continue.
- Tap the Copy address icon.
- Send your ERC20 BNB to the copied address. Here's a guide that'll show you how to do this: How to send crypto using your Exodus mobile wallet.