Introduction

In this article, we will explain what the BEP-20 token standard is and how to withdraw BEP-20 tokens to save time and fees. We will also share a list of exchanges that support direct BEP-20 withdrawals.


What is BEP-20?

BEP-20 is a token standard of BNB Smart Chain (formerly Binance Smart Chain). The BEP-20 standard expands support for ERC-20 and BEP-2 tokens, providing additional functionality that allows you to move your tokens between different blockchains.

With BEP-20, you can:

  • Use compatible tokens on different blockchains.

  • Make peg tokens from other blockchains available on the BNB Chain (that is, anchored to Bitcoin, as is the case with BTCB).

  • Exchange BEP-2 tokens for BEP-20 equivalents (BEP-2 BNB to BEP-20).

  • Enjoy extremely low transaction fees and a 3 second block time.

  • For a more detailed look at the BEP-20 standard, see the draft proposal on Github.

 

How to withdraw BEP-20 tokens

Dozens of exchanges support BEP-20 withdrawals to BNB Chain-compatible wallets, eliminating the need to manually convert your BEP-2 tokens to BEP-20. By directly withdrawing BEP-20 tokens, you save time and money (fees) as you completely skip the step where you would need to convert your tokens to BEP-20.

Make sure the exchange or wallet you are using supports BEP-20 before withdrawing. If you're unsure, contact a member of the Customer Service team to verify.

 

Withdraw BEP-20 Tokens on Binance.com

For the purposes of this article, we will explain the process of withdrawing BNB from Binance.com to Trust Wallet. Still, the withdrawal process should be very similar across all crypto exchanges and wallets.

Before you start, you need to go to your Trust Wallet (or any other BNB Chain compatible wallet) and get the receiving address. This is very simple, as you just have to open your wallet, select Smart Chain (BNB Chain) and click Receive. The address will appear on the screen. Save this address for later, as you will need it in step 3 of the following guide.

1. Log in to your Binance.com account. Then, in the upper right corner, select [Wallet] and click [Overview].


2. In the Wallet Summary, click [Withdraw].


3. Once you are in the withdrawal menu, select the currency you want to withdraw (BNB, in your case) and enter the withdrawal address you obtained in Trust Wallet. Next, select BNB Smart Chain (BEP-20) as the transfer network and enter the amount you want to withdraw.


4. After selecting BNB Smart Chain as the transfer network, a pop-up screen will appear to confirm that you understand what you are doing.

 

5. The following steps are the same as with any other withdrawal. A confirmation screen will appear to inform you of the details of the transaction, such as the conversion rate and fees.

6. Once confirmed, you will be asked to enter your verification code to approve the withdrawal.

Your transaction will be processed shortly. The funds should appear in your Trust Wallet balance within a few minutes after you receive the withdrawal confirmation email. Once your funds arrive, Trust Wallet will send you the notification that the deposit of your BNB BEP-20 tokens was successful.

By following these steps, you eliminate the need to manually convert BEP-2 to BEP-20. Once you receive the deposit in Trust Wallet, you will be able to interact with any supported dApp or project.