Binance BNB Deposit Guide (BEP20)

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Questions and Answers

What type of token should NOT be sent to the provided wallet address?

  • Cryptographic tokens
  • BEP20 tokens
  • Smart contract tokens
  • Non-fungible tokens (NFTs) (correct)

Which network is compatible for sending BNB to the provided address?

  • BNB Smart Chain (BEP20) (correct)
  • Bitcoin Network
  • Ethereum Mainnet (ERC20)
  • Cosmos Network

If you accidentally send ERC-20 tokens to the provided BNB Smart Chain (BEP20) address, what is the most likely outcome?

  • The tokens will automatically convert to BEP-20 tokens.
  • The tokens are likely to be lost, as they are not compatible with the BEP-20 network. (correct)
  • The tokens will be temporarily inaccessible but recoverable through Binance support.
  • The tokens will be automatically forwarded to an equivalent ERC-20 address.

A user scans the QR code and sees the wallet address 0x1768b5685a80d31cb8b4fd05e9987c42fa751fff. What should they do before sending BNB?

<p>Send a small test amount first to ensure the address is correct and functional. (A)</p> Signup and view all the answers

Why is it important to verify the network (BEP20) when depositing BNB to the provided address?

<p>To prevent loss of funds due to network incompatibility. (C)</p> Signup and view all the answers

Flashcards

BNB Smart Chain (BEP20)

A blockchain network used for BNB transactions on Binance, known for lower fees and faster transactions.

Wallet Address

A unique identifier for your Binance wallet where you can receive BNB.

Network

The blockchain to send your BNB.

NFTs

Non-Fungible Tokens; unique digital assets like collectibles or art.

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QR Code

Scan with your phone's camera or a QR code scanner to quickly access the wallet address.

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Study Notes

  • Users can deposit BNB to Binance
  • The network is BNB Smart Chain (BEP20)
  • The wallet address is 0x1768b5685a80d31cb8b4fd05e9987c42fa751fff
  • NFTs should not be sent to this address

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