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What is BUSD - ethereum vs. binance?

Binance

Cryptocoins Exchanges / Binance 320 Views

My understanding is that BUSD can exist both as ERC20 and as BEP20, is this right? Whatever exchange it is at will always give you the option to withdraw it as one, or the other, or both?

If one has an ERC20 and they are converting it to BEP20, is the basic idea that it is sent to an ethereum address, and Binance will "mint" the equivalent amount of BUSD on BEP20? And then if you want it back as ERC20, Binance will destroy the BUSD on binance, and send you back the BUSD ERC20 from its ethereum address?

submitted by /u/Order_Responsible
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