When navigating cryptocurrency deposits and withdrawals on platforms like Binance, you may have encountered network options such as BEP2, BEP20, ERC20, OMNI, and TRC20. These terms refer to different blockchain standards used for transferring tokens, and choosing the wrong one can lead to lost funds or failed transactions. This guide breaks down each network type, explains their core differences, and helps you make informed decisions when sending or receiving digital assets.
What Are Blockchain Token Standards?
Before diving into specific networks, it’s important to understand what token standards are. A token standard defines a set of rules that govern how a token functions on a blockchain—such as how it’s transferred, how transactions are approved, and how data is structured. These standards ensure compatibility across wallets, exchanges, and decentralized applications (dApps).
The most widely used standards today include ERC20 (Ethereum), BEP2 and BEP20 (Binance ecosystems), TRC20 (Tron), and OMNI (Bitcoin layer-1). Each operates on its own blockchain with unique technical features and use cases.
BEP-2: Native to Binance Chain
BEP-2 (Binance Chain Evolution Proposal 2) is the native token standard for the original Binance Chain, launched to support fast trading and high throughput for decentralized exchange (DEX) operations.
- Address format: Begins with
bnb, e.g.,bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23 - Use case: Primarily designed for exchange efficiency rather than smart contracts
- Requires MEMO field: When depositing or withdrawing BEP-2 tokens, you must include a MEMO (a unique identifier) alongside the address to ensure correct crediting
⚠️ Important: Omitting the MEMO can result in lost funds. Always double-check both address and MEMO before confirming a transaction.
While BEP-2 supports interoperability with other blockchains through cross-chain bridging, it lacks support for complex smart contracts, which led to the development of Binance Smart Chain.
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ERC-20: The Ethereum Standard
ERC-20 is the most widely adopted token standard in the crypto ecosystem. It runs on the Ethereum blockchain and powers thousands of tokens used in decentralized finance (DeFi), NFTs, and Web3 applications.
- Address format: Starts with
0x, e.g.,0x0e806cea8e5beba6df97354ef7f22b66c5a2ce82 - Smart contract enabled: Fully supports programmable logic, making it ideal for dApps
- No MEMO required
Despite high gas fees during network congestion, ERC-20 remains dominant due to its robust developer ecosystem and broad wallet/exchange support.
❗ Note: ETH itself is not an ERC-20 token—it's the native currency of Ethereum. However, many tokens built on Ethereum (like USDT, LINK, DAI) follow the ERC-20 standard.
TRC-20: Tron’s Efficient Alternative
TRC-20 is the token standard for the Tron blockchain, offering fast transactions and extremely low fees—making it popular for stablecoin transfers, especially USDT.
- Address format: Begins with
T, e.g.,TWsVAb9EWAgKdumTD7XoEdkvs7AoyvkgN7 - Low cost: Transaction fees are fractions of a cent
- High speed: Blocks are confirmed in seconds
Due to its efficiency, many users choose TRC-20 when transferring large amounts of USDT where minimizing fees is critical.
OMNI: Running on Bitcoin’s Base Layer
OMNI is one of the earliest token protocols, built directly on top of the Bitcoin blockchain using the Bitcoin scripting system.
- Address format: Typically starts with
1or3, e.g.,1JKhrVV9EsgSS5crXLBo9BRVXyuHjf2Tcp - Legacy protocol: Once popular for issuing USDT (before TRC-20 took over)
- Slow and expensive: Transactions rely on Bitcoin’s network, meaning higher fees and longer confirmation times
Today, OMNI usage has significantly declined due to scalability limitations. Most USDT volume now moves via TRC-20 or ERC-20.
BEP-20: Bridging Ethereum Compatibility with Binance Efficiency
Launched alongside Binance Smart Chain (BSC), BEP-20 is Binance’s answer to Ethereum—a fully compatible smart contract platform with faster speeds and lower costs.
- Address format: Same as ERC-20 (
0xprefix) - EVM-compatible: Works seamlessly with Ethereum tools like MetaMask and supports DeFi apps
- Low gas fees: Transactions cost pennies compared to Ethereum
- High throughput: Designed for scalability
Because BEP-20 uses the same address structure as ERC-20, confusion can arise during transfers. However, they operate on separate blockchains—sending BEP-20 tokens to an ERC-20 address (or vice versa) without proper bridging will result in loss of funds unless recovered via cross-chain tools.
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Linked Tokens: How Cross-Chain Bridging Works
To enable interoperability between chains, Binance introduced "pegged" or "linked" tokens—essentially wrapped versions of existing cryptocurrencies that maintain a 1:1 value with their original asset.
For example:
- BTCB = Bitcoin (BTC) pegged on BSC (BEP-20)
- ETH (BEP-20) = Wrapped Ethereum on Binance Smart Chain
- USDT (BEP-20) = Tether issued on BSC
These tokens are backed 1:1 by reserves held by Binance and allow users to trade or use assets across different blockchains while preserving value. You can verify contract addresses and balances using block explorers like BscScan.
You can freely swap between native assets and their pegged versions within Binance, but doing so externally requires using bridges or compatible DeFi platforms.
Key Differences at a Glance
| Feature | BEP-2 | BEP-20 | ERC-20 | TRC-20 | OMNI |
|---|---|---|---|---|---|
| Blockchain | Binance Chain | Binance Smart Chain | Ethereum | Tron | Bitcoin |
| Address Prefix | bnb | 0x | 0x | T | 1 / 3 |
| Smart Contracts | No | Yes | Yes | Yes | Limited |
| MEMO Required | Yes | No | No | No | No |
| Transaction Cost | Low | Very Low | Variable (can be high) | Extremely Low | High |
| Speed | Fast | Very Fast | Moderate | Very Fast | Slow |
Frequently Asked Questions (FAQ)
Q: Can I send ERC-20 tokens to a BEP-20 address?
No. Although both use 0x addresses, they run on separate blockchains. Sending directly without using a bridge will likely result in lost funds. Always confirm the receiving wallet supports the specific network.
Q: Why does BEP-2 require a MEMO?
The MEMO acts as a unique identifier for deposits on Binance Chain. Without it, the system cannot determine which user owns the incoming funds. Never skip this field when using BEP-2.
Q: Is TRC-20 safe for large USDT transfers?
Yes. TRC-20 is widely supported and offers fast, low-cost transactions. It’s commonly used for large-volume stablecoin movements due to minimal fees.
Q: Are BEP-20 and ERC-20 interchangeable?
Not directly. While they share technical similarities and address formats, they exist on different chains. Use official bridges or exchange services to convert between them safely.
Q: Which network should I choose for withdrawing from Binance?
Choose based on where you’re sending the funds:
- Use ERC-20 for Ethereum wallets or DeFi platforms
- Use BEP-20 for BSC wallets (e.g., MetaMask with BSC added)
- Use TRC-20 for low-cost USDT transfers
- Use BEP-2 only if explicitly required (and include MEMO)
Q: What happens if I select the wrong network?
Exchanges often warn you if the address doesn’t match the selected network. If sent incorrectly, recovery may be possible through customer support or cross-chain tools—but there’s no guarantee. Always double-check.
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