Binance coin FAQs - Learn more about BNB
All you need to know about the transition from the ERC20 version of Binance coin to its mainnet version inside of your Exodus wallet.
In this Article:
- What is happening to Binance coin (BNB)?
- Why do I see Binance (old) in my Exodus wallet?
- How Do I swap my Binance (old) to the new Binance coin
- What happens if the BNB swap service is unavailable?
Binance (old)/Binance coin swap Questions
What is happening to Binance coin (BNB)?
Binance originally released their asset in the form of an ERC20 token running on the Ethereum network. The Binance team decided to upgrade their asset and switch it to their own mainnet blockchain version.
Why do I see Binance (old) in my Exodus wallet?
You will see two wallets in Exodus that will hold the old and the new Binance coin if you have not already swapped the old tokens for the new mainnet version:
- Binance (old) - old token
- Binance Coin (BNB) - new token
How Do I swap my Binance (old) to the new Binance coin
To swap your old Binance tokens for the new mainnet version, all you need to do is:
- Open your Binance (old) wallet inside of Exodus.
- Click the three dots in the upper right corner of your Binance (old) wallet and select the Swap Binance Tokens to Mainnet option:
- After reading the pop-up, click the blue Yes, Swap Now button:
After around 30 minutes, your Binance tokens will be swapped to the new mainnet version!
What happens if the BNB swap service is unavailable?
If the swap feature does not work inside of your Exodus wallet, not to worry! You can either wait for it to be back up and running or use a different service to do the swap:
- Swap through ChangeNOW. This won't require you to create an account and the swap process is pretty straight forward. Send your BNB from Exodus to ChangeNOW and they will send your mainnet BNB directly to your Exodus address: https://changenow.io/swap/binance-coin
- Send your old BNB tokens to the Binance exchange to be swapped. No surprises there right? These are the creators of BNB so it makes sense they'd have a solution in place. However, you will need an account with the online custodial exchange to use this option. You can find the swap details here: Binance Chain Mainnet Swap.