BEP-20 and ERC-20 are both popular standards for tokens on the Binance Smart Chain (BSC) and Ethereum blockchain, respectively. While BEP-20 is the native token standard of BSC, ERC-20 is the most widely used standard for tokens on Ethereum. If you have BEP-20 tokens and want to convert them to ERC-20, there are several options available, but one of the most popular is to use a cryptocurrency exchange such as KuCoin.
KuCoin is a popular cryptocurrency exchange that supports both BEP-20 and ERC-20 tokens. The exchange provides a user-friendly platform that makes it easy to convert between the two standards. In this article, we will discuss the best way to convert from BEP-20 to ERC-20 using KuCoin as a case study.
N/B: Before using these techniques, you must ensure that KuCoin accepts the token you wish to deposit, confirm that it may be deposited as a BEP20 token, and determine whether you would be able to withdraw the token deposited as an ERC20 type.
Step 1: Create an account on KuCoin
The first step to convert BEP-20 tokens to ERC-20 using KuCoin is to create an account on the exchange. To create an account, go to the KuCoin website and click on the “Sign Up” button. You will need to provide your email address, create a password, and complete a CAPTCHA verification process. Once you have completed the registration process, you will need to verify your identity before you can start trading on the platform.
Step 2: Deposit BEP-20 tokens into your KuCoin account
Once you have created your account and verified your identity, you will need to deposit your BEP-20 tokens into your KuCoin account. To do this, log in to your KuCoin account, navigate to the “Assets” tab, and select the “Deposit” option. Search for the BEP-20 token you wish to deposit and copy the deposit address provided by KuCoin. Then, go to your BEP-20 wallet and send the tokens to the KuCoin deposit address. The deposit will typically take a few minutes to be credited to your account.
Step 4: Withdraw tokens as ERC-20 type from your KuCoin account
Once your BEP-20 tokens have been transferred to your account, you can now withdraw them from your KuCoin account as ERC-20 type. To do this, navigate to the “Assets” tab on the KuCoin platform and select the “Withdraw” option. Search for the token you wish to withdraw, select the ERC-20 network, enter the withdrawal address and the amount you wish to withdraw, and confirm the transaction. The withdrawal will typically take a few minutes to be processed.
In conclusion, KuCoin provides a simple and straightforward way to convert BEP-20 tokens to ERC-20 tokens. The process involves creating an account on KuCoin, depositing your BEP-20 tokens into your account, and withdrawing the ERC-20 tokens type from your account. While there are other ways to convert BEP-20 tokens to ERC-20, like other exchanges or using the swap method on DEXs, KuCoin offers a reliable and user-friendly platform that is accessible to both beginners and experienced traders.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.