If you are among the activists and traders in the digital currency market, you are probably familiar with the terms Bep2 and Bep20. In this article, we are going to check the use of Bep20 standard and teach you step by step how to convert Bep2 to Bep20 in TrustVolt and Metamask wallet. Stay with us in the rest of this article.
Bep2 and Bep20 standard
Before we examine the different methods of converting Bep2 to Bep20, it is better to familiarize yourself with these two standards first. BAP 2 is actually the standard that Binance uses to create tokens on the platform Binance China designed and made available to developers. Tokens that intend to operate in this platform must follow this standard. BAP 2 network address bnb It starts and is very similar to ERC20.
BAP 20 is another standard used by Binance; But this standard for the network Binance Smart China It is designed and is very similar to the Ethereum network. Binance uses this standard for use in Decentralized applications And Smart contracts designed and made available to developers. This network has the same address as the Ethereum network and with 0X Starts.
What is the difference between Bep2 and Bep20 networks?
Bep2 and Bep20 are considered as two parallel networks in the Binance exchange, each providing facilities to developers and users. In the following, we mention five of the most important differences between these two networks.
- The main difference between these two networks is the platform in which the said standards are used. BAP 2 is used to launch the token on the Binance China platform, while BAP 20 is used to launch on the Smart Binance China platform.
- BAP2 and tokens that use this standard do not support smart contracts. While tokens designed with BAP 20 standard They support smart contracts.
- Another difference between these two networks is the consensus mechanism they use. BEP 2 uses proof of work mechanism and BEP 20 uses proof of stake mechanism.
- If you make a transaction on the BAP2 network in the Binance exchange, you have to pay a fee for it. Now, if you do the same transaction with the BAP 20 network on the Binance exchange, you will not pay any fees.
- The scalability of BAP 2 is low Scalability BAP 20 is too much.
Bep20 standard applications
One of the reasons for converting Bep2 to Bep20 is the numerous facilities that this network provides to users and developers. In the following, we are going to mention some of the most important of these applications.
- Metaverse game currencies use BAP 20.
- Currency transfer using this standard is much faster and cheaper.
Creation of Metaverse cryptocurrencies using the BEP20 standard
One of the main applications of this standard in the world Metaverse Is. If you are interested in playing its games and earning money, you should know that most of the currencies of Metaverse games have been launched on the BAP 20 network.
Fast and cost-effective currency transfer
If you have some experience in the digital currency market, you know that the transfer fee in the Ethereum network is very high. BAP 20 allows you to transfer your Ethereum tokens through the Binance Smart China network at a lower cost and faster speed. For this, it is enough to use bep20 instead of erc20 when transferring.
Different ways to convert Bep2 to Bep20
There are different methods to convert Bep2 to Bep20, and below we will introduce three of the most used ones and describe its step-by-step steps.
- TrustVolt wallet
- Metamask wallet
- Binance exchange
Convert Bep2 to Bep20 using TrustVolt wallet
TrustVault is one of the wallets that allows users to convert the Bep2 network to Bep20. For this, just open your software wallet and follow the steps below.
- Go to your desired token page.
- Select More option to convert BEP2 to Bep20.
- If you intend to convert BAP 2 to BAP 20, just select the Swap to smart chain option; But if you intend to convert BAP 20 to BAP 2, you should select the Swap to bainance chain option.
- In the opened page, enter the amount of currency you want to exchange and click on the Send option to confirm. It takes some time for the necessary processing to be done and a new page will open for you.
- In the opened page, enter the amount of currency you want to exchange and click on the Send option to confirm. It takes some time for the necessary processing to be done and a new page will open for you.
- The Swap option will be displayed on the new page. Click on it.
- Finally, select the send option to finalize your transfer.
- You can monitor the exchange process by using the more details option.
Convert Bep2 to Bep20 using Metamsk wallet
Metamask is a software wallet that supports the Ethereum standard by default. If you intend to transfer tokens with BAP 2 and BAP 20 standards to this wallet, you need to make changes to its settings. For this, you must first install the Metamask plugin or its mobile software (we will teach you how to use the plugin in this article). Then follow the steps below.
- One of the features of this wallet is the ability to convert Bep2 to Bep20.
- Click on Metamask icon in Chrome browser to open a page for you.
- Find the Setting option on the opened page and click on it.
- Enter the Network section on this page.
- Click on add network option.
- In this step, you must enter the specifications of the network you want.
- Metamask allows you to create a test network and a main network. For practice, it is better to first build a test network and practice the transfer steps on it so that you don’t lose your capital if a problem occurs. In the following, we provide you with the experimental and main network parameters separately.
Main network parameters
Network Name: Smart Chain
New RPC URL: bsc-dataseed.binance.org
ChainID: 56
Symbol: BNB
Block Explorer URL: bscscan.com
Experimental network parameters
Network Name: Smart Chain – Testnet
New RPC URL: data-seed-prebsc-1-s1.binance.org:8545
Chain ID: 97
Symbol: BNB
Block Explorer URL: testnet.bscscan.com
- Save the settings made.
- Now, on the new page, the display unit has changed from ETH to BNB, and the Smart Chain network has also been added to the options.
- Now it is enough to transfer the desired currency that supports the bep2 or bep20 standard to your mainnet.
- To convert the network from Bep2 to Bep20, enter the desired currency page and click on the Swap option.
- Choose the amount of currency you want and click on Send button at the end.
Convert Bep2 to Bep20 on Binance exchange
Since the BAP 2 and BAP 20 networks are both related to the Binance exchange, you can easily convert the network in this exchange. When withdrawing coins from Binance, you can select the desired network and convert Bep2 to Bep20 standard. To do this, just follow the steps below.
- Login to your account.
- Select Overview from the top of the page.
- On the page that opens, click on the Withdraw option.
- Now it’s time to choose the token you want to withdraw. After you have selected the destination address. Select the desired network in the Transfer Network section. This is how you can convert Bep2 network to Bep20.
Converting Bep2 to Bep20 is a solution for quick conversions
At the beginning of this article, we provided a brief explanation about BAP 2 and BAP 20 networks and examined their differences and applications. Then we taught how to convert Bep2 to Bep20 in the wallet of TrustVolt, Metamsk and Binance exchange, so that you can easily use the facilities provided by the Bep20 network. Have you ever used these methods?
BEP2 to BEP20 token conversion tutorial written in TrustWallet and Metamsk for the first time on Wallex blog. appeared.
