If you’ve spent any time moving tokens across different blockchains, you’ve probably noticed something: not all wallets are created equal. Each blockchain has its own set of rules, standards, and address formats, which means the wallet you use depends heavily on the network your tokens live on.
Two networks that often cause confusion are the Binance Smart Chain, which uses the BEP20 standard, and Polygon, which is one of Ethereum’s leading scaling solutions. Both are widely used, are compatible with the Ethereum Virtual Machine (EVM), and require you to use the right wallet setup to avoid errors.
But what exactly is the difference between a BEP20 wallet and a POL wallet, and how do you know which one to use? We’ll answer those below.
What Is a BEP20 Wallet?
A BEP20 wallet is a crypto wallet that supports the BEP20 token standard on the Binance Smart Chain. BEP20 is to Binance Smart Chain what ERC-20 is to Ethereum, a framework for creating and managing tokens. This standard ensures all tokens on the Binance Smart Chain can interact with each other and with smart contracts seamlessly.
A BEP20 wallet lets you:
- Store BEP20 tokens such as Binance Coin (BNB), Binance USD (BUSD), or other Binance Smart Chain assets.
- Buy and sell BNB tokens and other Binance Smart Chain assets.
- Send and receive transactions on the Binance Smart Chain network.
- Pay gas fees in BNB, if necessary.
- (For some), connect to Binance Smart Chain-based dApps for DeFi, gaming, or NFTs.
What Is a POL Wallet?
A POL wallet is a wallet that supports tokens and transactions on the Polygon network, also known as “POL.” Polygon is an Ethereum scaling solution designed to provide faster, cheaper transactions compared to Ethereum’s mainnet. Like the Binance Smart Chain, it uses the EVM, so its tokens follow the same ERC-20 standard.
A POL wallet lets you:
- Store and send Polygon tokens such as POL, USD Coin (USDC) on Polygon, or other Polygon-based assets.
- Bridge tokens between Ethereum and Polygon for cheaper use.
- Pay gas fees in POL, if necessary.
- (For some), access Polygon dApps, including DeFi protocols, NFT platforms, and gaming apps.
BEP20 Wallet vs. POL Wallet: Key Differences
At first glance, BEP20 wallets and POL wallets look similar. They’re both EVM-compatible; they both use “0x” addresses; and decentralized ones usually allow you to interact with smart contracts and dApps. But under the hood, there are some critical differences:
- Network – BEP20 wallets connect to the Binance Smart Chain, while POL wallets connect to Polygon.
- Transaction Speed & Cost – Both are cheaper than Ethereum, but Polygon typically offers slightly lower fees and faster settlement.
- Token Standards – BEP20 is a specific standard for Binance Smart Chain, while POL uses ERC-20 tokens on its own sidechain.
- Ecosystem – The Binance Smart Chain is heavily tied to Binance’s exchange ecosystem, while Polygon integrates closely with Ethereum and its DeFi ecosystem.
- Gas Fees – BEP20 transactions may allow you to use BNB for fees, while POL transactions may allow POL.
Note: Even though both wallets look the same in some apps, choosing the wrong network can result in failed or lost transactions. That’s why it’s crucial to always double-check which chain your tokens are on before sending or depositing.
Common Mistakes with BEP20 and POL Wallets
Here are the top errors users make when using BEP20 and POL wallets, and how to avoid them:
- Wrong chain deposits – Sending BEP20 tokens to Polygon, or vice versa.
- Not adding the network to your wallet – Tokens might not appear if you haven’t added the chain configuration.
- Mixing up token versions – Many tokens exist on multiple chains (e.g., USDC on BEP20 vs. USDC on Polygon). Always check you’re using the right version.
Which Is Better: a BEP20 or POL Wallet?
Both BEP20 and POL wallets serve their purpose, but if you’re looking for lower fees and faster transactions, a POL wallet is the better choice. Polygon’s network is designed as a scaling solution for Ethereum, which means it consistently delivers near-instant transactions at a fraction of a cent—much cheaper than Binance Smart Chain’s BEP20 fees. For everyday transfers, trading, and payments, this makes a noticeable difference.
Another advantage of a POL wallet is its deep connection with the Ethereum ecosystem. Since Polygon is EVM-compatible and widely adopted across DeFi, NFT, and Web3 apps, many POL wallets open the door to a much broader range of platforms compared to BEP20. They’re future-focused, with stronger development activity and integrations that continue to expand.
These are also some of the reasons why Ka.app (a crypto payment app) is built on the Polygon network. By using a POL wallet structure under the hood, Ka.app gives users the benefits of speed and cost-efficiency, without the complexity of managing chains or gas tokens manually.
How to Set Up a POL Wallet
Setting up a POL wallet is simple, especially if you’re using Ka.app, which removes the hassle of complex steps. Here’s how to get started:
- Download Ka.app from the App Store or Google PlayStore; install the app on your mobile device; and create your account.
- Complete Know Your Customer (KYC). This step keeps your account secure and compliant.
- Log in to your account.
- Your POL wallet is created automatically. You just have to go to the home screen and tap POL to see your POL wallet address.
How to Deposit Tokens Into a POL Wallet
Moving or depositing your cryptocurrencies into a POL wallet takes just a few steps with Ka.app:
- Log in to Ka.app and tap “Deposit.”
- Choose the token you want to add.
- Copy your POL wallet address. It usually starts with “0x,” just like Ethereum addresses.
- Start withdrawing from your exchange or wallet by logging in to the exchange or wallet where your tokens are stored.
- Paste your POL wallet address there, and confirm the withdrawal using the Polygon network.
- Wait for confirmation. Thanks to Polygon’s speed, deposits usually land in Ka.app within seconds.
Pro tip: If you’re nervous about making your first deposit, start with a small test transfer. Once it arrives, you’ll know you’ve set everything up correctly before moving larger amounts.
The Bottom Line
Both BEP20 wallets and POL wallets are essential if you plan to use their respective ecosystems. They may look similar, but they operate on entirely different networks with different gas tokens, transaction fees, and use cases.
The challenge is that the similarities between the two networks often cause confusion, leading to wrong-chain deposits and lost funds. That’s why tools like Ka.app are so powerful. They take the complexity out of managing multiple wallets and chains. Instead of worrying about BEP20 vs. POL or any other network, you just move your funds seamlessly, quickly, and safely with one network: POL.
Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. Cryptocurrencies are volatile. Therefore, buying crypto carries risks, including potential loss of funds, and may not be suitable for all investors. Always conduct your own research or consult with a qualified advisor before making financial decisions.
FAQs
What is a BEP20 wallet used for?
A BEP20 wallet is used for storing, sending, and interacting with tokens on Binance Smart Chain, and more.
What is a POL wallet used for?
A POL wallet is used for holding and transferring tokens on the Polygon network, and more.
Can I use the same address for BEP20 and POL tokens?
Addresses may look the same (“0x…”), but the networks are different. You must select the right chain when depositing.
What happens if I send BEP20 tokens to a POL wallet?
Your funds may be stuck or lost. Always double-check the chain before sending.
Which is cheaper: BEP20 or POL?
Both are low-cost, but Polygon transactions are typically cheaper than Binance Smart Chain. For Ka.app though, sending tokens to other Ka.app users is free.
How do I find my BEP20 or POL wallet address?
Just log in to your crypto wallet and go to the token you’d like to use. Select the network if there’s that option. You’ll see your wallet address there.
