To better understand the difference between the Bep2, Bep20, Erc20 and Trc20 networks when transferring coins on Binance, you first need to understand each network. As well as the pros and cons of each type through this article.

What is Bep2?

Bep2 is a technical standard based on the Binance Blockchain, Binance Chain. If you deposit and withdraw Coins on Binance, you will see this protocol. Is a token standard applied on Binance Chain. It is also similar to Ethereum’s Erc20 standard. Based on this Bep2 standard, developers can create tokens that work on Binance Chain as well as the opportunity to trade on Binance DEX is huge and extremely convenient.

The Bep2 wallet address on Binance Chain has the form: bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23

The transaction fee for the Bep2 network at the moment is 1 USDT/transaction (for USDT transactions), the transaction fee for other coins is equivalent to Bep2 and Bep20.

The Bep2 address requires the use of MEMO not required for OMNI, TRC20 or ERC20 deposits and withdrawals. So there won’t be much confusion when depositing or withdrawing.

What is Bep20?

Bep20 is a standard of tokens running on Binance Smart Chain BSC. You can think of it as a standard for tokens. It defines how they are used, who can use them, and other rules for using them.

Bep20 is representative of tokens on Binance Smart Chain, it is similar to Trc20 of TRON network or Erc20 of tokens running on Ethereum platform.

You can check information about transactions, addresses, tokens, prices and other activities related to Binance Smart Chain through BSCScan (https://bscscan.com/)

The address of the Bep20 wallet and the Erc20 wallet has the same form: 0xe07f735f7cfc5cf39a9a9bc14ba52bede8fcfc26

USDT withdrawal fee with Bep20 network is 0.8 USDT/transaction, this fee makes Bep20 the cheapest USDT withdrawal network at the moment. However transaction fees for other coins, Bep2 and Bep20 are equivalent.

What is Erc20?

USDT Erc20 is issued by Tether but operates on the Ethereum Blockchain platform. Born with the purpose of solving the disadvantages of USDT on the Omni platform (network overload).

With USDT Erc20 then gfast transaction. Due to the use and operation of Ethereum’s Erc20 platform, USDT Erc20 inherits a fast transaction speed. USDT Erc20 is easy to use in Ethereum’s ecosystem andEasily save on multiple wallets that support the platform Ethereum.

You can check the information on the Ethereum platform about the information of ETH transactions or information about blocks, smart contact… through Etherscan (https://etherscan.io/); Moreover, Etherscan is also used to track transactions on decentralized platforms based on the Ethereum platform.

The address of the Bep20 wallet and the Erc20 wallet has the same form: 0xe07f735f7cfc5cf39a9a9bc14ba52bede8fcfc26

USDT withdrawal fee with Erc20 network is 10 USDT/transaction, this fee makes Erc20 the USDT withdrawal network with the highest fee at the moment. Usually USDT transactions do not use the Erc20 network (because of the high fees). At the same time, the transaction fees of Erc20 in other coins are also higher than in networks like Bep2 or Bep20.

What is Trc20?

Similar to Erc20, Trc20 is a token standard issued based on smart contracts on the TRON Blockchain. There is a feature that Trc20 is fully compatible with Ethereum’s Erc20 standard, so that issued tokens based on Erc20 can convert SmartContract to use Trc20.

The wallet address of Trc20 has the form: televisionbVGRUJdmM41jSfDckdxsy3zfTnaL1216

Withdrawal fee of USDT with Trc20 network is 1 USDT/transaction, this fee makes Trc20 2nd compared to Bep20 in terms of cheapest withdrawal fee at the moment.

Distinguish Bep2, Bep20, Erc20 and Trc20:

• Bep2 is a technical standard for deploying and launching tokens on the Binance Blockchain.
• Bep20 represents a token standard on the Binance smart chain.
• Erc20 is a technical standard for smart contracts on the Ethereum blockchain for tokens.
• Trc20 one is a token standard issued based on smart contracts on the TRON Blockchain.

You can also understand:

• Bep2: Binance Chain
• Bep20: Binance Smart Chain
• Erc20: Ethereum Chain
• Trc20 – TRON Chain

Note: All deposit and withdrawal transactions between account on Binance things must network with each other. For example: You transfer 1000 USDT via Trc20 network, the receiver must provide you with the address of the Trc20 wallet code of USDT.

Currently, Binance has removed the feature of depositing and withdrawing via OMNI wallet address.

See also the article on how to get back the wrongly transferred cryptocurrency on Binance.