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Trading Binance Coin (BNB) and other BEP2 assets on our exchange
Trading Binance Coin (BNB) and other BEP2 assets on our exchange

Only deposit BEP 2 assets and withdraw to BEP 2 compatible addresses

Written by Mia Lee
Updated over a week ago

When trading Binance coin (BNB) on our exchange, please note that we're only supporting BEP 2 assets. This means if you deposit or withdraw using the BEP 20 network, your funds might be lost.

BEP 2 addresses start with "bnb" and require a memo for transactions. Before depositing BNB on our exchange or withdrawing it, make sure you're using the right token standard. Some wallet apps will allow you to swap easily between BEP 2 and BEP 20.

If you're wondering what BEP 2 and BEP 20 are, here a short explanation. When Binance Coin was initially launched it was running on a blockchain known as Binance Chain. Binance Chain was designed to facilitate trading on the Binance DEX. All tokens on Binance Chain were designed according to Binance Chain Evolution Proposal 2 (BEP 2).

However, this chain couldn't support smart contracts.

This is why Binance Smart Chain was developed. It's compatible with Ethereum which is why BSC addresses start exactly the same way as Ethereum addresses. The token standard on Binance Smart Chain is called BEP 20.

You can learn more about the hybrid blockchain structure in our blog.

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