BEP-20 is a token standard on BSC (BNB Smart Chain, formerly Binance Smart Chain) that aims to extend ERC-20, the most common Ethereum token standard. Users can create a native asset as a BEP-20 token or even create copies of tokens from other blockchains to make them usable on the BNB Smart Chain. These are coins called “Peggy”, which are essentially BEP-20 versions of other crypto assets.
If a user sends BEP-20 tokens to other trading platforms through an unsupported network, the assets may not be received. We strongly recommend that you read the FAQ on How do I deposit or withdraw cryptocurrencies? before making a transfer.
If you mistakenly sent BEP-20 tokens to an unsupported wallet, you can recover the assets by adding the BNB Smart Chain network to that wallet or by depositing the BEP-20 tokens to a different network-enabled wallet BNB SmartChain.
Follow the instructions below to recover your assets:
1. Connect your wallet to the BNB Smart Chain
If you use the MetaMask wallet, follow the steps in this article to set up your wallet. Once you have added the BNB Smart Chain network manually, you just need to switch the connection to BSC, then you will be able to see your BEP-20 tokens.
2. Retrieve BEP-20 tokens from your wallet into a BSC compatible wallet
You can retrieve your BEP-20 tokens from your original wallet and then create a new BSC-compatible wallet to deposit your BEP-20 token generator into. Binance Wallet, Trust Wallet, etc. are compatible with BSC.
How about we use Binance Wallet (augmentation) for instance:
Stage 1: Download and introduce the Binance Wallet program augmentation on Chrome or Firefox
Step 2.1: Recover your record with your mental aide express
On the off chance that you as of now have a Binance Wallet account, click [I as of now have a wallet] . Enter your seed and another secret phrase to reestablish it.
Step 2.2: You can likewise make a Binance Wallet record and import your confidential key.
You can likewise make another Binance Wallet to store your BEP-20 tokens. Click [I don’t have a wallet] to make another one. Return to your unique wallet and duplicate the relating private key. You can now store your BEP-20 tokens to Binance Wallet by clicking [Import]. Glue your duplicated private key and select [BNB Smart Chain Network] . You will promptly to create BEP-20 token in the wallet.
Kindly note that pulling out resources with BNB Smart Chain or BNB Beacon Chain (previously Binance Chain) requires the installment of gas expenses charged in BNB, the local badge of these blockchains. In this way, you want to have a modest quantity of BNB in your wallet to finish the exchange.
What are the best crypto wallets for Binance Smart Chain (BSC)?
Aside from the Binance Chain Wallet , mentioned earlier, here are some of the most convenient ways to access BSC’s vast ecosystem of dApps , which has grown in popularity thanks to affordable gas fees.
MetaMask : The famous non-custodial crypto wallet that integrates with your web browser and can connect to any dApp . Do not hesitate to consult this complete guide on the installation and use of MetaMask . Given its high adoption rate, MetaMask also offers the possibility of integrating the most popular hardware wallets, namely Trezor and Ledger.
Trust Wallet : Acquired by Binance, Trust Wallet introduced staking in April 2019 , in addition to support for Tezos (XTZ). As an inbuilt dApp browser, it is available for both iOS and Android . Currently, it supports over 40 blockchains through 160,000 tokens.
SafePal : For optimal security, it is not only a mobile wallet but also a hardware wallet , called SafePal S1. Priced at around $50, this is a great cold storage way to protect your funds from hackers. SafePal supports 20 blockchains and 10,000 tokens.
Math Wallet : Like MetaMask , Math Wallet is an extension that works on the most popular browsers, namely Chrome, Brave and Edge . However, Math Wallet was developed with the goal of serving as a universal blockchain wallet , enablingmulti-chain dApps . Whatever public blockchain you are familiar with, Math Wallet should support it. In addition to this notable feature, it has a staking aggregator in the form of MathVault and MathChain, this as a Substrate -based layer 2 scalability solution .
Is it worth investing in Binance Smart Chain?
Among public blockchains, Binance Smart Chain ranks first among the most centralized blockchains. Therefore, its longevity will very much depend on how regulators treat Binance and how the company itself conducts its business. That said, BSC is a very attractive smart contract platform thanks to its exceptional speed and low transaction costs.
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