$BNB Token/Coin Differences Explained — RE: Binance DEX

There are two BNB assets currently in circulation. You need the Binance Chain BEP2 $BNB asset to trade on the Binance DEX

• Original $BNB asset is an ERC-20 token operating on the Ethereum network
• New $BNB asset is a BEP2 coin operating on the just-released Binance Chain network
• The two chains do not interact. The $BNB ERC-20 asset is different than the $BNB BEP2 asset
• Binance requires holders of the ERC-20 token to deposit $BNB into your Binance wallet, and it will be automatically converted to Binance Chain $BNB
• The Binance Chain $BNB is required to make trades on the new Binance DEX

Check which $BNB asset you are holding

If the address holding your $BNB starts with a “0x”, that is the original $BNB ERC-20 token and needs to be converted before using the DEX

If the address holding your $BNB starts with a “bnb”, that is the Binance Chain coin and can be used on the Binance DEX

Notes When Exchanging

Not all exchanges support the newer $BNB coin yet. For example, Changelly is swapping the original BNB token (ERC-20). If you purchase $BNB from an exchange like Changelly currently, that token will need to be sent to a Binance wallet to be swapped for the Binance Chain coin. This can be the case for many exchanges, not only Changelly; Changelly is just one example.

Please check which asset you are purchasing (ERC-20 Token or BEP2 Coin) and plan accordingly. The Binance Chain is very new and it will take time for exchanges and quick-swaps to sort which assets they plan to support going forward.

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Written by Zel Technologies, GmbH — 20 April 2019 — Rev. 1

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