Difference between Binance Chain BNB (BEP-2 format) and Binance Smart Chain BNB (BEP-20 format)
About Binance chain and Binance Smart Chain
Binance Chain BNB (BEP-2 format) was launched by Binance in April 2019. Its primary focus is to facilitate fast, decentralized (or non-custodial) trading.
Binance Smart Chain (BSC -BNB (BEP-20 format) is best described as a blockchain that runs in parallel to the Binance Chain. Unlike Binance Chain, BSC boasts smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM).
BEP-2 represents a token standard on Binance Chain, while BEP-20 represents a token standard on Binance Smart Chain. Forsage use Binance Smart Chain BUSD BEP-20 and BNB format: BEP-20.
Difference between the wallet address
BUSD BEP-2 and BNB BEP-2 – address on Binance chain starts with bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23. Also, the BEP-2 address requires the use of MEMO which is not needed for BEP-20 deposits and withdrawals.
BUSD BEP-20 and BNB BEP-20 address on BSC starts with 0xa6f79B60359f141df90A0C745125B131cAAfFD12.
On the Binance exchange while you withdraw BNB you need to select the BEP-20 network and enter wallet address started with 0x...
In the Trust wallet and Token Pocket, BNB BEP-2 and BEP-20 have different icons.
BUSD BEP-20 in the Trust wallet and BUSD (BSC) in Token pocket
Check on Binance Smart Chain Wallet Guide for more information.
Attention! In order to make any transactions with the BUSD stable coin on the Binance Smart Chain, you must have a BNB coin on your balance. Commissions for transactions with the BUSD token are calculated only in BNB, so all commissions will be automatically deducted from your BNB balance. If there is no BNB cryptocurrency on your wallet, then the Binance Smart Chain blockchain will not be able to carry out any of your transactions with the BUSD stable coin!
More information about BUSD FORSAGE on the BSC network:
→ FAQ: BUSD FORSAGE expansion on Binance Smart Chain (BSC)
→ All about commissions in FORSAGE BUSD
→ How to prepare your wallet for the launch of FORSAGE BUSD on the BSC network
→ How to buy BUSD and BNB for registration in Forsage BUSD
→ Why BUSD and BNB on Binance smart chain (BSC) has same address format as Ethereum (ETH) network?
→ List of common mistakes that may cause your assets loss
→ How to buy BNB and BUSD on Binance.com
→ How to add Binance Smart Chain wallet with BUSD token if you have separate Ethereum Wallet in app? (Trust Wallet)
→ How to buy BUSD from an online exchanger