ERC20, TRC20, and BEP20 are three different token standards used on different blockchain platforms. In this article, we will explore the differences between these three token standards and help you understand which one is better for your needs. Additionally, we will guide you on how to send and receive each of these tokens.
What is the difference between ERC20, TRC20, and BEP20?
ERC20
ERC20 is a token standard on the Ethereum blockchain. ERC20 is the most popular token standard, and it is used by a vast majority of tokens on the Ethereum blockchain. ERC20 tokens are fungible, meaning they can be exchanged for one another. ERC20 tokens have a fixed supply, and they are divisible up to 18 decimal places.
TRC20
TRC20 is a token standard on the TRON blockchain. It is similar to the ERC20 standard, with a few differences. TRC20 tokens are also fungible and have a fixed supply. However, TRC20 tokens have a different fee structure, making them less expensive to transfer than ERC20 tokens. these tokens are also divisible up to 6 decimal places.
BEP20
BEP20 is a token standard on the Binance Smart Chain (BSC). It is also similar to the ERC20 standard, with a few differences. BEP20 tokens are fungible and have a fixed supply. BEP20 tokens are also divisible up to 18 decimal places. However, BEP20 tokens have significantly lower transaction fees than ERC20 tokens, making them an attractive option for traders.
Which one is better ERC20, TRC20, or BEP20?
The answer to this question depends on your individual needs. If you are looking for a token standard that is widely accepted and has a vast network of users, then ERC20 is the way to go. ERC20 tokens are used by a vast majority of tokens on the Ethereum blockchain, making them easy to trade and exchange.
If you are looking for a token standard that has lower transaction fees, then TRC20 or BEP20 may be a good option. TRC20 tokens are less expensive to transfer than ERC20 tokens and BEP20 tokens have significantly lower transaction fees than ERC20 tokens.
How do you send or receive each of these tokens?
Sending and receiving ERC20, TRC20, or BEP20 tokens is relatively easy. You will need a wallet or exchange that supports the specific token standard you wish to send or receive.
In the video below you can learn how to send or receive ERC20, TRC20, or BEP20 tokens on Binance.
In conclusion, ERC20, TRC20, and BEP20 are three different token standards used on different blockchain platforms. Each has its advantages and disadvantages, and the best option for you depends on your individual needs. Sending and receiving these tokens is relatively easy, and you will need a wallet that supports the specific token standard you wish to send or receive.
