

How to Recover Crypto Transferred to the Wrong Network on Binance



Binance users often make the mistake of sending their assets to the wrong blockchain network. Though it usually causes intense anxiety, especially if a substantial amount of money is involved, there are ways to recover those assets.
Introduction to Tokens
When moving funds using your Binance account, make sure you always confirm the network you wish to withdraw from or deposit crypto assets to. If people are not careful, they can easily mismatch networks, such as selecting BEP-20 when in fact they intended to select ERC-20. When such happens, one may end up withdrawing or depositing cryptos on the wrong blockchain.
If the wallet you deposited to supports both ERC-20 and BEP-20 networks, you can recover your crypto assets on Binance within a few steps.

What happens if you send funds to the wrong blockchain? First, you need to know the kind of wallet you transferred the funds. A wallet can be either custodial or non-custodial. If you have your wallet's seed phrase or private keys, you have a non-custodial wallet. In contrast, a custodial wallet is the opposite; you normally do not have access to the seed phrase/private keys.
Differences Between ERC-20 And BEP-20 Explained
Why do people have these sorts of issues in the first place? The simple reason is that different blockchains are designed to work with specific tokens. The ERC-20 and BEP-20 are token standards that provide the necessary guidelines governing the use of a token. They specify rules on how token withdrawals, deposits, and transactions are done. In other words, ERC-20 and BEP-20 are standards that define how tokens interact with everything an a specific network: different wallets, smart contracts, and projects.
Though the modes of operation of ERC-20 and BEP-20 are similar, they are token standards meant for different blockchains. The ERC-20 is built for use on the Ethereum blockchain, while BEP-20 is for the BSC.
What Should You Do When You Send Funds To The Wrong Network?
If you happen to make this mistake, there is no reason to be anxious. Many people tend to send ERC-20 tokens like Ethereum to BEP-20 or vise versa. We will consider three possible scenarios where such could happen, and what you could do to resolve it.

- Scenario 1: You Transferred Tokens To A Wallet That Supports Both BSC And Ethereum
When this occurs, it is possible to send back the tokens to the correct network on Binance.
It is relatively straightforward to recover your tokens in this case. First, check the toggle list on your wallet to ensure you have enabled the token. For instance, MetaMask has an 'Add token' feature that allows users to browse through every available coin. Where a desired token is not in the list, a user simply would input the token's contract address to import it.
Under this category, two methods are useful for recovering your tokens. They are the "Binance Bridge" and the "Manual method."
Binance Bridge
The Binance Bridge is a tool that allows you to convert your tokens between blockchains. All you need to do is connect your wallet such as MetaMask or Binance Chain Wallet, and then you choose what tokens you intend to transfer. However, you will need ETH for Ethereum gas fees or BNB for BSC gas fees to carry out this operation.
Manual Method
Let us give an illustration. Here we will try to convert BEP-20 ETH back into ERC-20 ETH. The user must have BNB for gas fees.
Firstly, on your Binance crypto deposit page, select ETH and the deposit network as BEP-20. Note that your funds will be lost if you choose the wrong network. Once you receive the ETH in your Binance account, convert it to ERC-20 by withdrawing it to a wallet that supports the ERC-20 token standard and selecting ERC-20 as your transfer network. This will ensure that your token is correctly transferred to the wallet as ERC-20 ETH.
- Scenatio 2: You Sent Tokens To A Wallet That Supports Either BSC Or Ethereum.
In this case, you will need to have the private keys of a wallet that supports both networks.
To recover your tokens, import the private keys of your wallet into a new wallet that accepts both blockchains. You may use a seed phrase or a private key, depending on the type of wallet. When you import a wallet's private key to another wallet, you gain access to its tokens from another wallet. You can then carry out any operation you desire with those tokens. Here is a step-by-step guide to recover your tokens in this category. We will use MetaMask as our preferred wallet for better understanding.

- Download a MetaMask wallet on either Android or IOS and create a new wallet or access your old one if you have one already.
- Create a new account. You will be offered the option to import your old wallet's seed phrase.
- If you own an existing MetaMask account, click the extension pin and then your account profile in the top right-hand corner.
- Click "import wallet" and input the private key of the wallet that has the missing cryptocurrency. After that, click "import" to finalize the process. Another way of doing this is by uploading a JSON file if you have one.
- Manually add the BSC network to your MetaMask account. Navigate to the MetaMask extension pin. Click on it to reveal a dropdown menu. Locate and click custom RPC at the button of the list.
- Next, you will need to add details like a Remote Procedure Call (RPC) URL to give MetaMask access to the BSC. This URL allows MetaMask to query information and request transactions from the BNB Chain (BSC).
To do this, fill in the following details in their specific fields and click 'save'.

Network Name: BSC Mainnet
New RPC URL: https://bsc-dataseed1.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
- Add the contract token correctly to your MetaMask Wallet. This will enable your wallet that supports BEP-20 to search for the lost token. If you want to find a list of tokens with their respective contracts, check BscScan.com. For ERC-20 ETH transferred to BSC, you can see its contract token by clicking on Binance-Peg Ethereum Token (ETH).
- To prepare yourself for the next step, ensure that you copy the correct contract token and take note of the decimal entry.
- Now, select "BSC Mainnet" from the network drop-down menu. Click on "Add Token" followed by clicking "Custom Token."
- Input the Token Contract Address, Token Symbol, and Decimals of Precision. Let us use ETH as a practical demonstration.
Token Contract Address: 0x2170ed0880ac9a755fd29b2688956bd959f933f8
Token Symbol: ETH
Decimals of Precision: 18
Click "Add Tokens" to confirm.
- If all this is done correctly, you should see your lost tokens. Also, you can then send it back to your BEP-20 wallet address on your Binance account. Moreover, you could choose to convert it to ERC-20 using the Binance Bridge or manual method.
- Scenario 3: You Sent Tokens To A Custodial Wallet Or Exchange

In such case, the chances of recovering the assets are quite slim. You would need to contact your wallet provider or the customer service of the exchange for assistance. While some Custodial wallet providers may charge a fee, others may give out private keys for free. Once there is access to the private keys, you can import them into a BSC-supporting wallet. However, most Custodial wallet providers may decline availing you the private keys. They are not under any obligation to do so.
Conclusion on Misplaced Tokens
The deposit/withdrawal process on Binance can be very tricky. One needs to be careful not to send tokens to the wrong network. Once you understand the whole process, you will be less prone to making such an error. However, In the event that the mistake is made, there is a good chance that the assets can be recovered.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Explore the comparative analysis between Bitcoin and Pi Network, two prominent networks shaping the future of decentralized finance. Uncover their differences in mining, scalability, market acceptance, and community dynamics.
TL;DR:
- Bitcoin and Pi Network are compared in terms of their foundational principles, mining methods, scalability, market acceptance, and community dynamics.
- Bitcoin operates as a decentralized digital currency, while Pi Network focuses on accessible mining through mobile devices.
- Bitcoin mining relies on computational power for security, while Pi Network utilizes a mobile mining approach with lower energy consumption.
- Bitcoin faces scalability challenges, while Pi Network needs to address scalability as it aims for widespread adoption. Market acceptance and value differ between the two networks.
Cryptocurrencies have opened new avenues for financial transactions, decentralized networks, and innovative technologies. Bitcoin, the first and most well-known digital asset, has paved the way for a digital revolution.
However, newer players like Pi Network are entering the market with unique propositions and aiming to challenge the status quo. This article will conduct a comparative analysis of Pi Network and the Bitcoin network to understand their similarities, differences, and potential implications for the future of Decentralized Finance (DeFi).
Foundational Principles
Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto, was designed to be a decentralized digital currency that operates on a peer-to-peer network. Its foundational principles include security, transparency, and scarcity. Bitcoin's blockchain technology enables secure transactions without intermediaries or central authorities.
Pi Network, on the other hand, was founded by a team of Stanford graduates in 2019. It creates a digital currency, $PI, that can be mined using mobile devices, making it accessible to the masses.
Mining and Network Security
Both Pi Network and Bitcoin utilize mining as a fundamental process, but they employ different approaches. Bitcoin mining involves solving complex mathematical problems through computational power to validate transactions and add new blocks to the blockchain. This process ensures network security and prevents double-spending.
In contrast, Pi Network's mobile mining aims to provide an alternative approach that allows users to mine using their smartphones. It utilizes a consensus algorithm that doesn't require massive computational power or energy consumption. However, it's important to note that Pi Network is still in the enclosed mainnet phase, and the security and decentralization of its network are not as established as Bitcoin's.
Scalability and Transaction Speed
Scalability has been a significant challenge for Bitcoin. The network can handle a limited number of transactions per second, leading to congestion during peak periods and higher transaction fees. Various solutions, such as the Lightning Network, have been proposed to address these scalability issues and enhance transaction speed.
Pi Network, a relatively new project, has not yet faced the same scalability challenges as Bitcoin. However, as Pi Network aims to achieve widespread adoption, it must address scalability concerns to support a growing number of transactions and users when the open mainnet goes live.
Market Acceptance and Value
Bitcoin has gained widespread acceptance and recognition as a digital asset and a medium of exchange. It has attracted institutional investors, retail traders, and merchants worldwide. Bitcoin's value is determined by market demand, and its price has experienced significant volatility over the years.
In comparison, Pi Network’s enclosed mainnet phase means that its native currency has not yet been listed on major exchanges. Its value and market dynamics are not freely tradable or well-established. Pi Network's success in gaining market acceptance and establishing value will depend on user adoption, utility, and listing on reputable exchanges.
Community and Ecosystem
Bitcoin has a robust and active community of developers, enthusiasts, and supporters. Its open-source nature has allowed for the development of various applications, platforms, and services built on top of the Bitcoin network. The Bitcoin community has played a vital role in its growth and adoption.
Pi Network, as a newer project, is also building its community of users and supporters. It has attracted many early adopters enthusiastic about its vision of accessible mining. The Pi Network team actively engages with the community, providing updates and addressing concerns. Building a solid and engaged community will be crucial for Pi Network's success and future development.
Conclusion
The comparative analysis between Pi Network and the Bitcoin network highlights their differences in approach, mining methods, scarcity, scalability, market acceptance, and community dynamics. Bitcoin, as the pioneer in the cryptocurrency space, has established itself as a widely recognized and accepted digital asset. Its decentralized nature, security, and growing ecosystem contribute to its value and market dominance.
Pi Network, on the other hand, is a newer project that aims to bring mining to the masses through mobile devices. It introduces a unique consensus algorithm and focuses on accessibility and user-friendliness. However, Pi Network is still in its early stages, and its network security, scalability, and market acceptance are yet to be fully established.
Both Pi Network and the Bitcoin network contribute to the continuous innovation and evolution of decentralized finance. While Bitcoin remains the leader in market acceptance, value, and ecosystem development, Pi Network's vision of accessible mining and user-friendly approach could have implications for making cryptocurrencies more inclusive and widespread.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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