What is the Binance Wallet and how does it work?
The Binance Wallet is a self-custody cryptocurrency wallet included in the Binance app, designed to empower users in the realm of decentralized finance ("DeFi"). It serves as a digital gateway to blockchain-based applications (DApps) and provides users with a secure and optimized method to manage their cryptocurrencies, execute token swaps across multiple chains, earn yields, and interact with a variety of blockchain platforms.
1. Simple: create a wallet in seconds from your Binance app without having to worry about phrases or private keys.
2. Convenient: by integrating with Binance Bridge and other providers, the Binance Wallet facilitates token exchanges between blockchains easily at better prices. You can explore dApps and generate yields effortlessly in just a few steps.
3. Secure: MPC (Multi-Party Computation) technology governs every transaction and mitigates single points of failure to ensure your assets are safe. Enhanced additional security features, such as incorrect address protection and malicious contract detection, among others, will notify you if a token or blockchain poses a security risk at the time of transaction.
4. Self-custody: the Binance Wallet uses a sophisticated security mechanism that produces three independent shared keys, stored individually in locations including your personal cloud and your device. To access your Binance Wallet, a minimum of two shared keys is required. This mechanism promises complete user control over their wallet.
5. 24/7 Customer Support: you can access our customer support service 24 hours a day, 7 days a week for a seamless user experience.
Download the Binance app and get started