In the fast-evolving world of blockchain and digital assets, many newcomers are often confused about how to buy NFTs, which cryptocurrencies to use—ETH or BNB—and what the differences are between ERC20 and BEP20 token standards. This guide breaks down everything you need to know in clear, SEO-optimized English to help you navigate NFT purchases safely and efficiently.
What Is an NFT?
An NFT (Non-Fungible Token) is a unique digital asset verified using blockchain technology. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible (each unit is identical and interchangeable), NFTs are one-of-a-kind. They represent ownership of digital items like art, music, videos, virtual real estate, or in-game collectibles.
NFTs are stored on blockchains, with the two most popular networks being Ethereum and Binance Smart Chain (BSC). Each network uses its own token standard: ERC20 for Ethereum and BEP20 for Binance Smart Chain.
👉 Discover how blockchain powers NFT ownership and why it matters for digital creators.
Ethereum & ERC20: The Foundation of Most NFTs
The Ethereum blockchain is the dominant platform for NFTs. Platforms like OpenSea, Rarible, and Foundation primarily operate on Ethereum’s mainnet. When buying or selling NFTs here, you’ll use ETH (Ethereum) as both the transaction currency and gas fee payment method.
Key Features of ERC20:
- Standard for creating fungible tokens on Ethereum.
- Used for transaction fees (gas), staking, and purchasing NFTs.
- High security and decentralization.
- Higher transaction fees during network congestion.
Most digital artists and high-profile NFT collections launch on Ethereum due to its established ecosystem, developer support, and wide wallet compatibility.
When using a wallet like MetaMask, Ethereum Mainnet is enabled by default. This means any ETH or ERC20 tokens you hold are automatically recognized on this network.
Binance Smart Chain & BEP20: A Cost-Effective Alternative
While Ethereum leads in popularity, Binance Smart Chain (BSC) offers a compelling alternative. Designed for faster transactions and lower fees, BSC supports BEP20 tokens, including BNB (Binance Coin).
Key Features of BEP20:
- Compatible with Ethereum’s tools but runs on Binance’s infrastructure.
- Significantly lower gas fees than Ethereum.
- Faster transaction confirmation times.
- Ideal for budget-friendly NFT trading and DeFi applications.
However, BSC is more centralized than Ethereum, which may concern users prioritizing decentralization.
To use BEP20 tokens in MetaMask, you must manually add the Binance Smart Chain network:
- Open MetaMask > Tap the three-line menu > Settings > Networks > Add Network.
Enter:
- Network Name: Binance Smart Chain
- RPC URL:
https://bsc-dataseed.binance.org/ - Chain ID:
56 - Symbol: BNB
- Block Explorer URL:
https://bscscan.com
Once added, you can switch between Ethereum and BSC with one tap.
👉 Learn how low-fee blockchains are changing the future of digital ownership.
ETH vs BNB: Which Should You Use to Buy NFTs?
| Factor | Ethereum (ETH) | Binance Smart Chain (BNB) |
|---|---|---|
| Network Fees | Higher, especially during peak times | Much lower |
| Speed | Slower during congestion | Faster transactions |
| NFT Marketplaces | OpenSea, LooksRare, Blur | PancakeSwap, Treasureland |
| Security | Highly decentralized | More centralized |
| Popularity | Industry leader for premium NFTs | Growing in emerging markets |
Use ETH if:
- You're buying high-value or well-known NFT collections.
- You value decentralization and long-term security.
- You're using OpenSea or other major platforms.
Use BNB if:
- You're on a budget and want to experiment with smaller NFT projects.
- You prefer faster, cheaper transactions.
- You’re active in Binance’s ecosystem.
Critical Mistake: Sending ETH via BEP20 Network
One of the most common—and costly—errors beginners make is sending ERC20 ETH to a wallet address using the BEP20 (BSC) network, or vice versa.
Why This Happens
On exchanges like Binance, when withdrawing ETH, users are often given multiple network options:
- ERC20 (Ethereum Network)
- BEP20 (Binance Smart Chain)
If you select BEP20 to send ETH to a MetaMask wallet configured only for Ethereum Mainnet, your funds may not appear—or worse, be lost permanently.
What Happens If You Make This Mistake?
- Your ETH is sent to the correct address but on the wrong chain.
- It won’t show up in your wallet because the networks don’t communicate directly.
- Recovery is possible only if you control the private keys of the receiving wallet and can initiate a cross-chain transfer.
For example:
If you send ERC20 ETH via BEP20, the funds arrive as "BEP20-wrapped ETH" on BSC. To recover them, you must:
- Ensure your wallet supports BSC.
- Switch MetaMask to Binance Smart Chain.
- Use a bridge or exchange service to convert BEP20 ETH back to ERC20 ETH.
⚠️ Always double-check the withdrawal network on your exchange. If in doubt, do a small test transaction first.
How to Avoid Network Confusion: Step-by-Step Guide
Identify the Receiving Wallet’s Supported Networks
- Does it support Ethereum only? Or both Ethereum and BSC?
Check the Deposit Address Format
- Ethereum and BSC addresses look identical (starting with
0x), so visual inspection won't help.
- Ethereum and BSC addresses look identical (starting with
Match Network to Token Standard
- Sending ETH? Use ERC20 (Ethereum Mainnet) unless the recipient specifically asks for BEP20.
- Sending BNB? Use BEP20 for BSC-based transactions.
Confirm Before Sending
- Review the network name one last time before confirming the transaction.
👉 Avoid costly mistakes—verify your crypto transfers with expert tips before sending.
Frequently Asked Questions (FAQ)
Q1: Can I use BNB to buy NFTs on OpenSea?
No, OpenSea primarily supports ETH and ERC20 tokens. While some newer features allow wrapped tokens or multi-chain listings, most transactions require ETH. If you only have BNB, you’ll need to swap it for ETH first or use a BSC-compatible marketplace like Treasureland.
Q2: What’s the difference between ERC20 and BEP20?
ERC20 is Ethereum’s token standard; BEP20 is Binance Smart Chain’s version. Both allow creation of fungible tokens, but they operate on different blockchains. Think of them as two languages spoken in separate countries—compatible in structure but not directly interoperable.
Q3: I sent ETH via BEP20 and it disappeared—can I get it back?
Possibly. If you sent ETH via BEP20 to your own MetaMask wallet:
- Switch MetaMask to Binance Smart Chain.
- Check your balance under the BSC network.
- If visible, you can either use it there or bridge it back to Ethereum (with fees).
If sent to the wrong address or third-party wallet without access, recovery may not be possible.
Q4: Is BEP20 less secure than ERC20?
Not necessarily less secure, but less decentralized. BSC relies on fewer validators compared to Ethereum’s vast network. This makes it faster and cheaper but potentially more vulnerable to manipulation or censorship.
Q5: Do all wallets support both ERC20 and BEP20?
Most modern wallets like MetaMask, Trust Wallet, and OKX Wallet support both—but only after manually adding BSC. Always confirm network settings before transacting.
Q6: Should I store NFTs on Ethereum or Binance Smart Chain?
For long-term value and broad compatibility, Ethereum is preferred. However, BSC is excellent for experimentation, gaming NFTs, or low-cost trading. Your choice depends on your goals: prestige and liquidity (Ethereum) vs. affordability and speed (BSC).
Final Thoughts
Understanding the difference between ETH vs BNB, ERC20 vs BEP20, and how networks interact is crucial for anyone entering the NFT space. Choosing the wrong network can lead to lost funds—so always verify before sending.
Whether you're an artist launching your first collection or a collector exploring digital art, knowing these fundamentals ensures safer, smoother transactions across blockchains.
By mastering wallet setup, network selection, and token standards, you’ll be well-equipped to participate confidently in the global NFT economy.
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