Crypto Invest

BNB vs BSC On Crypto.com – What’s The Difference?

Crypto.com BNB vs BSC

Last updated on January 3rd, 2022

If you are looking to deposit or withdraw BNB from your Crypto.com App, you may have noticed that you are given 2 different networks to use: BNB and BSC.

How are these 2 networks different, and which one should you be using?

Here’s a guide to explain all you need to know:

The difference between BNB and BSC on Crypto.com

The Crypto.com App allows you to withdraw BNB using 2 options: BNB or BSC. If you withdraw using BNB, you are withdrawing using the Binance Chain (BEP2). However, if you withdraw using BSC, you are withdrawing using the Binance Smart Chain (BEP20).

Here is a further explanation of these 2 networks:

BNB refers to the Binance Chain (BEP2)

When you are using the BNB network when depositing or withdrawing BNB, it is actually referring to the Binance Chain (BEP2).

I would have preferred for Crypto.com to use BEP2 instead of BNB for the name of the network, as it can be quite confusing!

If you are depositing BNB to the Crypto.com App, you will need these 2 details:

  1. BNB deposit address
  2. BNB memo
Crypto.com Deposit BNB BEP2 Details

The deposit address for a BEP2 address will usually start with ‘bnb‘, as shown here.

It is important for you to copy the details of both the deposit address and the memo. If you miss out on the memo, you may not be able to receive BNB in your Crypto.com App!

Crypto.com BNB Require Memo

As such, you will need to send BNB from a platform that supports the Binance Chain (BEP2).

The same process applies if you want to withdraw BNB from Crypto.com using the Binance Chain (BEP2). You will need to obtain the deposit address and the memo from the platform that you wish to transfer BNB to.

Crypto.com Withdraw BNB BEP2

BSC refers to the Binance Smart Chain (BSC)

If you choose to withdraw BNB using the BSC option, you will be withdrawing BNB using the Binance Smart Chain (BEP20).

The Binance Smart Chain (BEP20) and Binance Chain (BEP2) are 2 separate networks. They are not interchangeable with each other, so you can’t send a BEP20 version of BNB to a BEP2 address.

When you are depositing BNB using the BSC network to Crypto.com, you will only need to note down the BEP20 address.

Crypto.com BSC Deposit Address

This is different from the Binance Chain deposit address, as a memo is not required for a BSC deposit address.

The BSC deposit address also starts with ‘0x‘, which is different from the BNB (BEP2) address. This is similar to the ERC20 deposit address that you will have on Crypto.com.

As such, do not send your BNB using the BEP2 network to a BEP20 deposit address!

If you want to withdraw BNB from Crypto.com using the Binance Smart Chain (BEP20), you will just need to obtain the deposit address from the platform you’re withdrawing to.

Crypto.com Withdraw BNB BSC

What are the withdrawal fees using BNB and BSC on Crypto.com?

In general, Crypto.com charges a much higher fee for BNB (BEP2) withdrawals compared to BSC (BEP20) withdrawals of BNB.

Here are the current fees for BNB withdrawals as charged by Crypto.com:

NetworkBNB Withdrawal Fee
BEP20.02 BNB
BSC0.005 BNB

The fee for withdrawing BNB via the Binance Chain (BEP2) is 4 times as expensive compared to using the Binance Smart Chain (BEP20)!

To view these fees, you will need to select the gear icon on the Crypto.com App homepage,

Crypto.com App Select Settings

and scroll all the way down to view ‘Fees & Limits‘.

Crypto.com App Fees and Limits

After selecting ‘Withdraw Crypto‘ as the fees you wish to view, you can scroll down to BNB which brings you this fee table.

BNB Withdrawal Fee Crypto.com

You may want to note that only the Crypto.com App allows BNB withdrawals, but not the Crypto.com Exchange. This is because the Crypto.com App and Exchange are actually 2 different platforms!

What platforms support both BNB and BSC withdrawals?

If you are looking to transfer BNB between platforms, here are some of them that support both the Binance Chain (BEP2) and Binance Smart Chain (BEP20):

PlatformBEP2BEP20
Binance
FTX
KuCoin
Gate.io

All of these platforms support both networks. As such, it is important that you select the correct network when sending BNB between Crypto.com and any of these platforms!

BNB (BEP2) AddressStarts with ‘bnb
BSC (BEP20) AddressStarts with ‘0x

If you send BNB using the BEP2 network to a BEP20 address or vice versa, your BNB may be lost forever!

Conclusion

Crypto.com allows you to deposit or withdraw BNB using 2 networks: BNB and BSC. BNB actually refers to the Binance Chain (BEP2), while the BSC refers to the Binance Smart Chain (BEP20).

When you are looking to transfer BNB between these 2 platforms, it will be good to double-check:

  1. The network that you are using to withdraw
  2. The deposit address that you are withdrawing to

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

Crypto.com Referral (Get up to $45 USD worth of CRO)

If you are interested in signing up for a Crypto.com account, you can use my referral link and enter the code ‘x2kfzusxq6‘.

Here’s how you can get up to $45 USD worth of CRO in your Crypto Wallet:

TaskCRO Reward
Stake enough CRO to unlock a Ruby
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USD $25
Spend a minimum of USD 100
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USD $10
Buy/sell a total of USD 500 of crypto
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You will need to stake enough CRO (in the equivalent amount in your home currency) to unlock a Ruby Steel card or higher.

You can read more about the referral program on Crypto.com’s website, and the additional referral bonuses here.

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If you are interested in creating a Crypto.com Exchange account, you can use my referral link and enter the code “x2kfzusxq6“.

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Crypto.com Exchange Referral

Here are the amounts that you’ll need to stake to receive the bonuses:

Amount of
CRO Staked
Referral Bonus
You Receive
1,000 – 4,999 CRO$10
≥ 5,000 CRO$50

If you’ve already signed up for the Crypto.com app, you can still sign up for this bonus! This is because the Crypto.com App and Exchange are 2 different platforms.

You can read more about this referral program on Crypto.com’s website. What’s more, you will be able to earn 10% of your referees’ maker and taker fees across Spot, Margin, and Derivatives trading for 12 months.


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