What are BEP2 and BEP20 tokens? How do they differ from each other?

BEP2 and BEP20 tokens are specific types of Ethereum tokens. They are used to transfer value between accounts, but differ in a few ways. BEP2 tokens are the standard transfer token, or “ether,” that you may be familiar with from other blockchain projects. BEP2 tokens can be held in a wallet just like ether, and are subject to similar rules about gas and transfer fees.

BEP20 tokens are different from BEP2s in that they are more like ERC721 non-fungible tokens. They can only be transferred by their contract address, not by an Ethereum address. They also cannot have balances less than 1, and they come with a few other rules designed to make them work better as collectibles.

While both of these standards allow for value transfers on the Ethereum blockchain, and both standards have been created similarly with similar goals, each has its own set of uses and is meant for different things. BEP2 tokens contribute to the core functionality of the Ethereum blockchain itself (for example, transferring ETH across the network), whereas BEP20 tokens can be used as collectibles or rewards in applications that use tokenized assets (like CryptoKitties).

Popular BEP2 Token

Binance Coin 

Binance’s native token and one of its first cryptocurrencies.

BEP2 USDD 

US-Dollar-Dollar (USDD) is the cryptocurrency token of TRON, a blockchain that aims to offer decentralized applications services such as entertainment. The coin has a fixed exchange rate and is supported by TRX (TRON’s native currency), as well as Bitcoin.

BEP2 PancakeSwap 

Pancake Swap, the new decentralized application (dapp) from BeP2 and BeP20, is an easy way to swap crypto for crypto. The makers of Pancake Swap say their goal is to make crypto easier for everyone to use.

STEPN 

Stepn is an exercise-based dApp originated from the Solana blockchain that allows users to convert their everyday physical activity into SOL, the native currency of the Solana network. SOL price is currently trading at around $0.50, meaning that users can earn up to $5 worth of SOL per day through Stepn challenges. 

Chain 

Chain is a company that offers Web3 and Blockchain cloud infrastructure via its products, Chain Cloud and Sequence. Its native token is XCN.

Outstanding BEP20 Token

Binance-Peg SHIBA INU 

Shiba Inu (SHIB) is a meme token that began as a fun currency. The exchange PancakeSwap V2), Biswap, and ApeSwap (BSC) are among the top exchanges for trading in Shiba Inu (BEP-20). The current SHIB price is $0.00001189, which is down 9% over the past 24 hours.

Binance-Peg XRP

Binance-Peg XRP is a version of Ripple that is pegged to the Binance Coin (BNB) on the Binance Smart Chain network. XRP is a cryptocurrency designed for enterprise collateral settlements and the native asset of the XRP Ledger.

Some of the BEP2 Wallets are: 

Binance Chain Wallet

Binance Chain wallet is a kind of digital currency wallet that is developed by Binance, it is mainly used to store BNB. It’s not just a crypto wallet, it’s a gateway for all the Blockchain assets.

Trust Wallet

The Trust Wallet is a secure and convenient way for users to store their BEP2 and BEP20 tokens. It supports BEP2 and BEP20 tokens, it allows you to swap your BEP2 tokens for BEP20 tokens for use on the BNB Smart Chain and Ethereum blockchains.

D’CENT wallet

D’CENT is a hardware wallet that offers a unique “tap to verify” credit card-shaped wallet. This device supports a wide variety of assets, including Bitcoin, ETH, RSK Smart Bitcoin, Klatyn, XRP and more than 27,000 other coins and tokens.

List of Trusted BEP20 Wallets 

MetaMask

Metamask is a light, easy to install browser extension that allows you to use the Ethereum blockchain in your browser, without running a full node. This means that it’s easier for non-programmers to access the functionality of decentralized applications, which is one of the major barriers to mainstream adoption of blockchain technology. You can even use Metamask with Mist or Parity, so it’s not tied to Chrome

Ledger Nano X

The Ledger Nano X is a hardware wallet that supports BEP2, BEP2, and BEP20 tokens. The Nano X is the result of a collaboration between the Ledger team and CC CryptoLab, an academic research team at the French Alternative Energies and Atomic Energy Commission (CEA) specializing in cryptography and security.

The Nano X is based on a dual chip architecture, with one Secure Element (or SE for short) and one Application Specific Integrated Circuit (ASIC). The SE is a dedicated microchip designed to protect your private keys from being stolen by malware or hackers. The ASIC is a microchip specifically designed to sign transactions within the hardware wallet. This combination of chips and firmware gives you protection that’s secure enough to be used by governments and Fortune 500 companies.

In Conclusion

The answer to this question depends on whom you ask, but perhaps the most important distinction is that BEP2 tokens can be transferred from person-to-person without the need for an exchange. 

There are many companies that have created their own BEP2 tokens and those tokens can transfer from person-to-person without the need for an exchange. The company that creates the token sets the rules for how it can be used and moved around.

BEP20 tokens, on the other hand, are usually created by exchanges or other third party companies and those companies typically set rules about how they will be used, traded, or exchanged.

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