Tuesday, April 6, 2021

BNB vs Ethereum address

 Any time you have an address that starts with ‘0x’ that is an ethereum based address. This applies inside and outside of TRUST wallet. When BNB first came out it was exclusively running on the ethereum blockchain (0x). Thankfully Binance created its own blockchain and BNB is now running on the Binance blockchain which uses the address prefix of ‘bnb’.

Because BNB exists on both blockchains you have two BNB options in TRUST wallet. Tap on the icon in the top right corner of TRUST wallet. It is to the right of ‘Collectibles’. Then type ‘BNB’ in the search field. The top asset will be the Binance Blockchain version known as ‘BEP2’. This is the version of BNB that will have an address that starts with ‘bnb’. The one bellow it, that looks the same, is the ethereum blockchain based version. It is known as an ‘ERC20’ token. It will have an address that has a prefix starting with ‘0x’.

There are reasons for using one over the other, and it is important to pay attention to the difference. For example if someone wants to send you BNB from an ERC20 address they can NOT send that BNB to a BEP2 address, it must go to a corresponding ERC20 address. You’ll also notice that most exchanges have different deposit instructions for the BEP2 version versus the ERC20 version. The BEP2 version will usually require a memo tag in addition to the BEP2 address.

You need to switch on the BEP2 version of BNB. That will give you the wallet with an address that starts with ‘bnb’. I’ve included a couple screenshots illustrating how to access the BEP2 wallet. I hope this helps.

- Xian
Reference: https://community.trustwallet.com/t/trust-wallet-bnb-address/56453

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