Exchange rates:
306744
Exchangers:
298
Updated:
02:45:51

Ethereum BEP20 or Binance-Peg Ethereum Token

Binance-Peg Ethereum Token (ETH token with a binding to the Binance network) is convenient because it can be freely used in decentralised applications of this blockchain - for example, the popular DEX PancakeSwap, Biswap, etc. The token complies with the BEP20 standard, but its value is always approximately the same as the exchange rate of the original Ether.

How to transfer the original Ethereum to the Binance network

Two critical concepts used in the process:

  • Crosschain Bridge. This unique blockchain protocol allows you to mint an analogue token from another network while maintaining a value peg.
  • Wrapped token. An actual token or cryptocurrency minted on another blockchain that is not native to itself.

It works very quickly (from a user's perspective).

A cross-chain bridge needs to be launched. For example, to issue Ethereum BEP20, it is most convenient to use the bridge recommended by Binance https://cbridge.celer.network/.

All you need to do is:

  1. Connect to the bridge using a wallet (Metamask, Token Pocket, and Coinbase Wallet are supported, you can also use the Wallet Connect connection protocol).
  2. Select the network from which you plan to transfer Ether - Ethereum Mainnet.
  3. Select the network you want to mint the token - BNB Chain.
  4. Enter the amount.
  5. Confirm the transaction and pay for the token conversion. Please note that a network fee will be charged.

Soon you will receive the transaction from Binance-Peg Ethereum Token in your wallet.

The alternative method is through the Binance exchange

This method is even more accessible but requires you to pay blockchain fees:

  1. Register on Binance if you still need an account and go through verification.
  2. Deposit the original Ether to the balance of the exchange.
  3. Withdraw ETH by specifying the BNB Chain and the corresponding wallet address when withdrawing.

The exchange will perform the conversion "under the bonnet", and you will receive the necessary tokens as soon as possible.

Where you can use Ethereum BEP20 (ETH)

Many decentralised applications are running on the BNB Chain blockchain, including exchanges (DEX), credit protocols, blockchain games, prediction markets, etc.

We also remind you that you can exchange Ethereum BEP20 to fiat or any popular cryptocurrency via a crypto exchange. Our BestChange service will help you find exchangers that support this direction. You can also use it to choose the most favourable options in terms of exchange rate.

Exchange Ethereum to e-currencies

On our site you can see the current exchange rates of Ethereum BEP20 (ETH) to other electronic payment systems.

Exchange Ethereum BEP20 (ETH) to another currency:

Exchange e-currency to Ethereum BEP20 (ETH):

© BestChange.com – , updated 08/28/2023
Reprints are allowed only with permission of BestChange.com

See also