The same goes for ETH, XRP, DOGE, and many more.Īs a low-cost, high-speed alternative to Ethereum, backed by one of the largest crypto companies in the world, Smart Chain already boasts a wide range of DApps and DeFi apps on its chain. BTCB (BEP20) tokens can then be deployed in DeFi protocols to earn yield on bitcoin. What’s more, leading digital assets on other chains can be ported onto Binance Smart Chain in the form of pegged BEP20 tokens.įor example, you could use Binance Bridge to swap bitcoin (BTC) for BTCB (BEP20) tokens backed by BTC. BEP20 is a developer-friendly token standard that allows anyone to deploy fungible digital currencies or tokens on Binance Smart Chain. Launched in September 2020, Binance Smart Chain boasts a five-second block time, cross-chain asset transfers, EVM compatibility, and a Proof of Staked Authority consensus protocol to ensure scalability.īinance Smart Chain has a BEP20 token standard that functions similarly to Ethereum’s ERC20 standard. Binance Smart Chain exists to change that.īinance launched Smart Chain to provide a high-speed, low-cost alternative for the burgeoning decentralized finance (DeFi) market, which has suffered from Ethereum’s high transaction fees. While Binance Chain offers a high-throughput targeting active crypto trades, it lacks in the programmability department. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.Binance Smart Chain (BSC) is a smart contract-enabled parallel blockchain to Binance Chain that provides a permissionless platform for decentralized application (DApps). ![]() imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. On the asset page of imToken, click "Transfer", select "BNB" on the pop-up, paste the deposit address of Binance, enter the amount you want to transfer, click "Next", and the transfer can be completed after paying the gas fee.įor best security on large amounts of crypto, consider our hardware wallet, imKey. Select "BNB Smart Chain (BEP20)" in "Network" and copy the BNB deposit address.ģ. Enter Binance Exchange, click "Wallets" - "Deposit", and select "BNB" or other assets supported by BSC.Ģ. If you want to transfer funds from imToken to Binance Exchange on BSC, you can follow the steps below, taking BNB as an example.ġ. Transferring tokens from imToken to Binance Select "BNB Smart Chain (BEP20)" in "Network", paste the copied address, and enter the password to withdraw coins. Open Binance Exchange, click "Wallets" - "Withdraw", and select "BNB" or other assets supported by BSC.ģ. ![]() Click "Receive" to enter the receive page, and click "Copy".Ģ. ![]() To transfer assets on BSC from Binance to imToken, you can follow the steps below. Withdrawing tokens from Binance to imToken Switching back to ETH walletĬlick "BNB Smart Chain" at the top, and click "Ethereum" to switch to the Ethereum wallet. BSC’s ecosystem on imTokenĬlick "DApp" on the asset homepage to view and experience recent popular DApps on BSC. Note: please make sure you have sufficient BNB in your wallet to pay Gas fee before transferring. ![]() In the BSC wallet, You can click "Transfer" or "Receive" and then perform the corresponding operation.Ĭlick "Receive ", share the QR code or copy the address and send it to the other party.Ĭlick "Transfer", set the type and amount of token you want to transfer, enter the receiver’s address, and then click "Next". Let's experience it together~ How to use BSC with imToken? Switching to BSC walletĮnter the asset page of ETH wallet, click "Ethereum"at the top, and click "BNB Smart Chain" to switch to the BSC wallet. ImToken now supports asset management and token discovery on BSC, and provides quick access to its DApps. Compared with Ethereum, the transaction fees are lower and confirmation time is faster. BNB Smart Chain (formerly Binance Smart Chain) is a blockchain developed by Binance, one of the leading cryptocurrency exchanges, using Proof of Staked Authority (PoSA).īSC supports smart contracts and is EVM-compatible, allowing developers to deploy smart contracts and build DApps on BSC conveniently.
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