BEP-20 and BNB Smart Chain: the network behind your tokens
Learn what BEP-20 means, how BNB Smart Chain works, and why choosing the right network matters for deposits, withdrawals, and transactions.
BNB Smart Chain (BSC) is a blockchain network, and BEP-20 is the token standard used on it. Together, they define the rules for how tokens are created, transferred, and stored on the network.
When you deposit or withdraw crypto on any platform that uses BNB Smart Chain, you must select the correct network. Sending tokens on the wrong network can result in permanent loss of funds.
What is BNB Smart Chain?
BNB Smart Chain is a blockchain network created by Binance. It is designed for fast, low-cost transactions and supports smart contracts, which means applications and tokens can run on it.
Compared to Ethereum (the most well-known smart contract platform), BNB Smart Chain offers lower transaction fees and faster confirmation times. This makes it practical for everyday operations like staking, swapping, and gaming.
Many crypto projects choose BNB Smart Chain because the combination of low fees and high throughput makes small transactions viable. On networks with high gas fees, a $5 swap might cost $10 in fees. On BSC, the same operation costs a fraction of that.
What BEP-20 means
BEP-20 is a token standard on BNB Smart Chain. It defines a set of rules that every token on the network must follow: how transfers work, how balances are tracked, how spending approvals function.
It is the BSC equivalent of ERC-20 on Ethereum. If you know ERC-20, BEP-20 works the same way but on a different network.
Why this matters: BEP-20 tokens must be sent and received on BNB Smart Chain. Sending a BEP-20 token to an Ethereum address, or sending an ERC-20 token to a BNB Smart Chain address, will result in permanent loss of funds. The address format looks identical on both networks (starting with 0x), which makes it easy to choose the wrong network by mistake. Always verify the network before confirming any transfer. Learn about smart contracts
The Inkryptus platform operates on BNB Smart Chain. All wallets, tokens (including INKY, USDT, BTC, ETH, CAKE), and operations use the BEP-20 standard. When depositing from an external wallet or exchange, always select the BEP-20/BSC network.
Frequently asked questions
Can I send ERC-20 tokens to my Inkryptus wallet?
No. Inkryptus wallets operate on BNB Smart Chain (BEP-20). If you hold ERC-20 tokens on Ethereum, you need to bridge or convert them to BEP-20 before sending. Most major exchanges support BEP-20 withdrawals.
Are gas fees the same as platform fees?
No. Gas fees are network fees paid to validators for processing transactions on the blockchain. Platform fees are charged by the application for its services. On Inkryptus, internal operations have zero gas fees for the user. The flat 3 USDT per operation covers the platform service.
Is BNB Smart Chain secure?
BNB Smart Chain is one of the most widely used blockchain networks, with a large validator set and years of continuous operation. Like any blockchain, security depends on the network's consensus mechanism and the quality of smart contracts deployed on it.
Next steps
Explore more:Inkryptus Wallet to use BEP-20 assets. Contracts Documentation for on-chain details.
Built on BNB Smart Chain
Every Inkryptus wallet runs on BNB Smart Chain using the BEP-20 standard. Each user gets an individual on-chain address generated at account creation. Internal operations (staking, swapping, buying and selling inside the app) have zero gas fees for the user. Deposits from external BEP-20-compatible wallets or exchanges are supported. Learn about wallets.
Investments in crypto assets involve risks, including price volatility and risk of partial or total loss of the invested amount. Digital tokens are not legal tender. This content is informational and does not constitute investment advice.