When depositing cryptocurrency on Binance, the system asks you to select a transfer network. Many beginners see terms like ERC20, TRC20, and BEP20 and freeze up, unsure which to choose. Selecting the wrong network could mean delayed funds at best, or permanent loss at worst — so this is something you absolutely must understand. You can make deposits through Binance Official or the Binance Official APP. iPhone users who haven't installed the app yet can check the iOS Installation Guide. Let me explain the differences between each network and how to choose.
Overview of Major Transfer Networks
The most common networks you'll see when depositing on Binance include:
ERC20 is the Ethereum network — one of the oldest and most universal. Nearly all exchanges and wallets support ERC20. The downside is relatively high fees. During network congestion, a single transfer can cost ten to several dozen dollars, and arrival times are slower, typically ranging from several minutes to half an hour.
TRC20 is the TRON network. Its biggest advantage is low fees — transferring USDT typically costs just one to two dollars or less, and it's fast, usually arriving within a few minutes. TRC20 is now the preferred network for most USDT transfers.
BEP20 is the BNB Smart Chain (BSC) network. Fees are similarly low, speed is fast, and since it's Binance's own chain, the deposit and withdrawal experience on Binance is excellent.
Beyond these three, you may also see other network options like Solana, Polygon, Arbitrum, and more. Each has its own characteristics, but they're used less frequently than the three above.
How to Choose the Right Network
The core principle for choosing a network comes down to one rule: the sender and receiver must use the same network. If you're transferring from another exchange to Binance, both sides must select the same network. For example, if you withdraw USDT via TRC20 from another exchange, you must select a TRC20 deposit address on Binance.
For everyday USDT transfers, TRC20 is the top recommendation. The reasons are simple: low fees, fast speed, and wide support. The vast majority of mainstream exchanges and wallets support TRC20 USDT transfers.
If you're transferring ETH or Ethereum-based tokens, ERC20 is your only option.
For transfers within the Binance ecosystem — for example, from Trust Wallet to Binance — consider BEP20 first for the lowest fees and fastest arrival.
If you're unsure which networks the other party supports, the safest choice is ERC20. While fees are higher, ERC20 has the best compatibility and is least likely to cause issues.
Step-by-Step Deposit Process
Here's how to deposit in the Binance app:
Step one: Tap the "Deposit" button on the homepage, then search for the coin you want to deposit, such as USDT.
Step two: The system displays available networks. Each network shows estimated arrival time and minimum deposit amount. Read this information carefully, then select your preferred network.
Step three: After selecting the network, the system generates a dedicated deposit address — a long string of letters and numbers. You can tap the copy button or use the QR code for scanning.
Step four: Go to your sending platform (another exchange or wallet), paste this address as the withdrawal destination. Confirm the network selection matches, then initiate the transfer.
Special reminder: Some coins require an additional note field beyond the address when depositing, which may be called Memo, Tag, or Payment ID depending on the coin. If the system prompts you to fill this in, you absolutely must — otherwise your funds won't arrive. For example, XRP deposits require a Tag.
Common Deposit Mistakes and Precautions
The most serious mistake is choosing the wrong network. For example, if you withdraw from another platform using ERC20 but enter a TRC20 address on Binance, the assets will likely be lost and unrecoverable. Always double-check that the networks match before transferring.
For your first deposit of any coin, we recommend testing with a small amount. If you want to deposit 1,000 USDT, try sending 10 USDT first. Confirm it arrives successfully before sending the remainder. While this means paying an extra fee, that cost is far less than the risk of losing your assets.
Deposits require a certain number of network confirmations, which varies by network. ERC20 generally needs about 12 block confirmations, taking several minutes to tens of minutes. TRC20 needs about 20 confirmations, usually completed in a minute or two. If it takes longer than expected, don't panic — check the transaction status on a blockchain explorer to see if it's still being confirmed.
Q: What if I sent to the wrong network?
A: Recovery depends on the specific situation. If the error is between networks that Binance supports, you can contact Binance customer support to attempt recovery, though a fee is usually charged. If the funds were sent to a completely unsupported network, recovery is unlikely. This is why careful verification before sending is crucial.
Q: Is there a minimum deposit amount?
A: Yes. Different coins and networks have different minimums, displayed on the page when you select the network. Transfers below the minimum won't be credited and won't be refunded — they're essentially lost.
Q: Why hasn't my deposit arrived?
A: First check the transaction status on the blockchain to confirm it was broadcast successfully. If the transaction is confirmed but hasn't appeared on Binance, the platform may need more block confirmations. During network congestion, arrival times increase noticeably. If you've waited more than a few hours, we recommend contacting Binance customer support.