Coinbase BEP-20: Does Coinbase Support BEP-20 Tokens?

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With Binance's own BNB Chain, BEP-20 tokens are a novel concept designed to rival the likes of ERC-20 tokens, but does Coinbase support BEP-20?

BEP-20 can be defined as a token standard on the BNB Chain that extends ERC-20 and acts as a general format to help developers launch different types of tokens on Binance. This forms part of the wider Binance ecosystem plans, which include a Binance NFT marketplace and Binance NFT games.

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So, with new Coinbase listings added every month, is there a chance these could ever be BEP-20 tokens?

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Coinbase BEP-20: Does Coinbase Support BEP-20 or BNB Chain?

According to the official Coinbase blog post, the exchange does not support BEP-20. Tokens and transactions relating to BEP-20 remain on a separate blockchain ecosystem somewhat exclusive to Binance.

BEP-20 tokens are built on a similar format as BEP-2 tokens - both created by Binance. As such, Coinbase does not support either of these formats.

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The exchange further clarified that any deposits made via BNB to Coinbase wallets may render the funds inaccessible and unattainable. It said:

Any deposits sent via the Binance Chain into a Coinbase account will not be credited and your funds will be lost.

According to Coinbase:

BEP20 tokens have a similar address format as Ethereum and share the same properties of the ERC20 standard, however, they are not the same. BEP20 tokens are on a separate network, which Coinbase currently does not support.

Read More: Binance New Listing: New And Upcoming Coins Listed On Binance