bep20 or btc?

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hello guys, I wanted to know which network is better to store cryptocurrency? if, for example, binance starts having problems (I hope this will not happen), can there be problems with the withdrawal of the crypt in the bep20 network?

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Posted in Binance Reddit

4 Comments

  1. ZealousidealLie9249 on 4. January 2024 at 2:42

    If you put your assets on BEP20 your exposure is limited to binance halting the chain. They can’t take your coins but they can prevent you from moving it ever again.

    This is true for all other chains.

    BTC cannot be halted. No centralised entity controls the network but it is not capable of handling any other asset than BTC itself.

     


  2. Daexmun on 4. January 2024 at 2:42

    Your coins are not really linked to a specific network when they’re just in your wallet

     


  3. cryptoboycz on 4. January 2024 at 2:42

    Bitcoin is stored in a wallet, either a hot wallet or cold wallet.

    BEP20 is a network, it’s definitely not a storing facility.

     


  4. BinanceCSHelp on 4. January 2024 at 2:42

    Hello there.
    You can always check on this page [https://www.binance.com/en/network](https://www.binance.com/en/network) what networks we’re supporting for coins that are listed on Binance. So can check other alternatives.
    And if you have any doubts or difficulties, you can always contact us in a private chat [https://www.binance.com/en/chat](https://www.binance.com/en/chat)
    VG