What is the difference between BEP20 and ERC20 tokens?
BEP20 and ETH20 are two different token standards that are used for the technical specification of tokens on the Ethereum and BNB Chain, respectively. ERC20 is a token standard that implements API functionality for tokens within Ethereum smart contracts, while the BEP20 token standard is used for BNB Chain assets and extends the ERC20.
How to convert BEP20 to ERC20?
Allbridge Core enables you to transfer BEP20 to ERC20, offering a simple and intuitive bridge experience for cross-chain transfers between BNB Chain and Ethereum. The future iteration of the platform will enable you to convert some part of the transferred amount into a gas token on the destination network, significantly enhancing the ease of entry into the new blockchain. We invite you to visit our guide to learn more about how you can exchange BEP20 to ERC20.
How does Allbridge Core work?
Once the transaction is initiated after the chain and token selection, the assets are exchanged on BNB Chain to the virtual value transfer tokens. These tokens are then used to transfer the information via the selected messaging protocol. In the current version of the bridge, it is possible to choose between Wormhole and Allbridge messaging protocols.
When the message arrives, it triggers the contract on the Ethereum network. There the virtual tokens are swapped into the desired asset, and the users receive native ERC20 tokens in their wallets. You may find more information about the transaction flow in Allbridge Core documentation.
Why do you need a bridge to swap USDT BEP20 to ERC20?
Using cross-chain bridges, one could transfer their cryptocurrency assets to a new blockchain and participate in the newly launched DeFi protocols or diversify the risks of keeping all of the assets on a single network. Allbridge Core is a platform that facilitates the transfer of stablecoin assets and enables the seamless flow of liquidity at minimum fees.
The benefits of using Allbridge Core for transferring stablecoins between Ethereum and BNB Chain
Allbridge Core makes it very convenient to transfer assets between Ethereum and BNB Chain by offering one-click cross-chain swaps. Instead of operating with the wrapped assets, only the native liquidity is used, significantly enhancing the user experience and creating opportunities for single-sided liquidity provision. In addition, by supporting multiple messaging protocols, Allbridge Core adds an extra layer of decentralization to cross-chain transfers and offers a more extensive selection of networks for potential integration.
How to recover BEP20 tokens sent to the wrong address?
Unfortunately, once the transaction is initiated, it is irreversible. We urge the users to take extra care to indicate the correct destination address to avoid the potential loss of funds.
FAQs
What happens when tokens are sent BEP20 to ERC20? At first, you need to select the chains and assets you would like to swap. After the transaction is initiated, Allbridge Core will swap the assets for virtual tokens to initiate the transfer from BNB Chain.
How do I change my ETH BEP20 to ERC20 MetaMask? ›
Visit Binance Bridge at https://www.binance.org/en/bridge and connect your MetaMask wallet.
- Select the BEP20 token you want to convert and the ERC20 token you want to receive.
- Enter the amount you wish to convert and the recipient's ERC20 address.
- Confirm the transaction and wait for the conversion to complete.
Once connected, in the Form Field, select the BEP20 token you want to convert.
- In the To field, select the ERC20 token you want to receive.
- Enter the amount you want to convert.
- Click on the Send button.
- You will be prompted to confirm the transaction. Click on the Confirm button to trigger the conversion.
If you have accidentally withdrawn ERC20 tokens as BEP20 token to your Ethereum wallet address, you will be able to recover them by connecting the receiving wallet to BNB Smart Chain (BSC) and send the BEP20 tokens back into Binance then withdraw them as ERC20.
How to swap BEP20 tokens on trust wallet? ›
How Does Swapping Tokens in Trust Wallet Work?
- Select “Swap” from the home screen.
- Search for the asset you want to swap from, and swap to. Then choose the amount.
- Select “Preview Swap” and review the details.
- Then confirm your swap.
What happens when you send ERC20 to BEP20? Once the networks, assets, and addresses are confirmed, Allbridge Core will swap the assets for virtual tokens to initiate the stablecoin transfer from Ethereum.
How to swap ETH BEP20 to ETH? ›
How to swap USDTBEP20 to ETH
- Choose the crypto exchange pair. Choose Tether USD (BSC) in the “You send” section. ...
- Enter the recipient's address. Now you need to enter the recipient's Ethereum address. ...
- Send the deposit. In order to proceed the efficient and reliable swap, the deposit is required. ...
- Receive cryptocurrencies.
Step 1: Navigate to the swap feature within the Trust Wallet app. Step 2: Select the source network (the network you would like to swap from). Step 3: Select tokens you want to swap and specify the destination blockchain. Step 4: Enter the amount of tokens you would like to swap.
What is bridging in MetaMask? ›
MetaMask Portfolio's bridge aggregator allows you to find cheap, fast, and convenient routes to move your tokens from one chain to another, instead of searching everywhere for the right bridge.
How do I cash out my BEP20 tokens? ›
How to withdraw BEP-20 tokens on Binance? You can withdraw BEP-20 tokens to any BSC-compatible wallet. Please make sure the exchange or wallet you're using supports BEP-20 before making a withdrawal, or your assets might be lost and cannot be recovered. In this example, we'll withdraw BNB from Binance to Trust Wallet.
PancakeSwap is the most popular decentralized exchange for BNB Chain, letting investors easily trade BNB and other BEP-20 tokens easily. All you need to get started is a non-custodial wallet like Trust Wallet.
How to get USDT BEP20 out of trust wallet? ›
How do I withdraw from BEP20 USDT from a trust wallet? You can only use BEP-20 USDT on the Binance blockchain. To withdraw it, it would be best to swap it for BNB (BEP-20) and then withdraw the BNB. Withdraw it to an exchange where it can be sold for USDT on another chain that you want.
How do I recover my Bep-20 tokens from non-BSC compatible wallets? ›
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. If you use the MetaMask wallet, follow the steps in this article to set up your wallet.
How do I get all ERC20 tokens owned by an address? ›
The following is the process for using Moralis to find all ERC-20 tokens owned by an address:
- Step 1: Set up Moralis. Install Node. ...
- Step 2: Find all ERC-20 tokens owned by an address. Moralis provides a “getWalletTokenBalances” endpoint to find all ERC-20 tokens owned by an address. ...
- Step 3: Run the script.
Due to the crypto decentralized nature, it is extremely important to pay close attention to the crypto transaction creating process. An incorrect network or destination wallet address may lead to the loss of funds.
Can I send USDT BEP20 to USDT ERC20? ›
If you want to transfer USDT between these different token standards, you would typically need to convert the tokens from one standard to the other using a cryptocurrency exchange or a token bridge service that supports the conversion between BEP20 and ERC20 tokens.
Can I send ETH using BEP20? ›
Yes, you can send ETH BEP20 to an ERC20 address. However, the process is complex. The most common method is cryptocurrency exchanges, allowing you to swap between the two types of tokens.
How to bridge ERC20 tokens? ›
Bridge tokens via Arbitrum's standard ERC20 gateway
- Step 1: Create a token and deploy it on L1 ...
- Step 2: Identify the bridge contracts to call (concepts summary) ...
- Step 3: Approve token allowance for the gateway contract ...
- Step 4: Start the bridging process through the router contract ...
- Step 5: Wait for execution on L2
Developed by Binance, the Binance Chain Wallet is specifically designed for Binance Smart Chain and supports BEP-20 tokens. Key features include: Binance Ecosystem Integration: Seamlessly interacts with Binance DEX and other BSC services.
