1. What is BRC-20?
BRC-20 is an experimental token standard that enables the minting and transferring of fungible tokens via the Ordinals Protocol on the Bitcoin blockchain. You can read more about it in this Academy article.
2. I deposited BRC-20 tokens to my Binance BTC deposit address, but I haven’t received my funds yet. Why?
Please note that Binance does not support the deposit of BRC-20 standard tokens. For updates related to BRC-20 tokens, please refer to the announcement page.
3. What happens if I deposited BRC-20 tokens to my Binance BTC deposit address?
Binance doesn’t support the retrieval of BRC-20 tokens deposited to BTC deposit addresses.
BRC-20 tokens exist on the Bitcoin network, but the BRC-20 token standard is relatively new and the process of deploying, minting, and transferring BRC-20 tokens isn't user-friendly. As Binance doesn’t support BRC-20 token standards, and since the BTC network runs on a UTXO model, Binance cannot freeze the exact UTXO that contains your BRC-20 tokens. You’re strongly advised not to deposit any BRC-20 token to your Binance BTC deposit address.