I've been using the Binance web wallet for a week now, primarily for trading, and here’s my conclusion:
This is not a familiar browser extension wallet tool, but rather the desktop version of the 'Binance Keyless Wallet' (or specifically for trading).
1. Differences from traditional browser extension wallets
1️⃣ Cannot create a new wallet, nor can it import/switch wallets; it can only use the default keyless wallet, and this wallet must be set up in advance on the Binance wallet mobile app.
2️⃣ Does not support other Dapp calls for login. If other websites want to log into this keyless wallet, they still have to log in via QR code on the mobile version.
3️⃣ Unlike other wallets that support many chains, with various built-in transfer, exchange, cross-chain, NFT, and bulk tools, it currently only supports BSC and Solana chains, and basically only supports the 'buy token' on-chain interaction function.
After reading this, everyone should understand that the current #币安钱包网页版 is primarily used as a primary market chain scanning and trading tool.
2. Advantages of being a primary chain scanning tool
1️⃣ Ultimate security
After opening the Binance web wallet in the browser, you first need to log in using your Binance account password or by scanning a QR code with the Binance app. This step is the same as the Binance web version, and if the browser is already logged into Binance, it will sync automatically.
Additionally, you need to click on 'Enable Security Signature' in the upper right corner and confirm the signature in the Binance wallet mobile app (as shown in the image below). After confirming, all purchases and sales of tokens within 7 days do not require a signature, which is more convenient.
Throughout the process, there is no need to input private keys or passwords, nor is any interaction with third parties required. Combined with Binance's keyless wallet, it completely eliminates the risk of private key leakage and wallet theft! It can be considered extremely secure!
2️⃣ Extremely low transaction fees
The service fee for the Binance web wallet is 0.5% of each transaction, charged by Binance. There are often promotions that reduce this by 50%, meaning it is only 0.25%. Compared to other web chain scanning tools/TG bots that often charge 1% transaction fees, this is simply 'the industry's conscience'!
3️⃣ Extreme 'speed'
The 'speed' of the Binance web wallet is reflected in three aspects:
Fast buying and selling: This should be undisputed. The on-chain interactions done by Binance are incomparable to other third-party tools.
Information updates quickly: This is mainly reflected in the dynamic updates of token trading, on-chain trading, and wallet/X monitoring information. For example, when viewing token transaction records, there is hardly any noticeable delay (possibly less than 200ms). Coupled with instantaneous buying and selling, the experience is incredibly smooth; those who use it know!
Interface operations are fast: This may benefit from the current simplicity of functions. During use, every clickable and switchable button responds instantly, providing an extremely smooth experience. Compared to occasional lags at the beginning of the year, the optimization is very evident, showcasing the Binance wallet team's meticulous work.
4️⃣ Features are sufficiently complete
Since it is positioned as a primary trading and chain scanning tool, it naturally needs to have all the necessary functions, and the Binance web wallet has done a good job of this.
New MEME list, smart money/KOL trading monitoring, X hot notifications, token K-line/bubble chart, token/developer security checks, one-click buying and selling, and customizable small tools are all available, fully meeting all the needs for trading on the BSC and Solana chains!
3. Disadvantages and experience feedback of being a primary chain scanning product
Of course, the current Binance web wallet is by no means perfect. Based on the recent experience with the service, I've proposed some personal recommendations for optimization, hoping to help the Binance wallet team.
1️⃣ Limit order trading function, priority ⭐️⭐️⭐️
Below is a comparison of the trading functions between the Binance wallet and another primary chain scanning tool. In fact, it just lacks the limit order/trading functionality.
In actual experience, this function is very important to me! After buying, I need to double my investment, sell at tiered prices, and set limits for low-price purchases, etc.
If possible, I hope the validity period of this limit order is ten thousand years!
2️⃣ Holding assets, trading addresses, developer labels, priority ⭐️⭐️⭐️
In the historical trading, holding address, and trading address sections below the token information K-line chart, all addresses here are direct wallet addresses, and there are no labels after the addresses, which provide almost no valuable information.
I hope to see the addition of data on creators, snipers, whales, KOL/smart money, fishing, rat trading, funding sources, etc. Especially for creator activities, I suggest adding a section to display this, which can bring a significant improvement in experience.
3️⃣ Multi-chain support, priority ⭐️⭐️
Currently only supports BSC and Solana; other chains like ETH, Base, etc., are hoped to be added in the future. However, most primary dog token trading is currently happening on these two chains, which is completely sufficient.
4️⃣ Automatic follow-up function, priority ⭐️
Currently, in the address monitoring function, you can set an amount and then buy with one click, which has already made actual usage very quick.
If an automatic buy/sell feature for specified addresses could be added, it would be even more convenient.
5️⃣ Personal wallet asset functionality, priority ⭐️
Currently, the personal information button on the Binance web wallet redirects to the Binance exchange, where information about the keyless wallet cannot be viewed.
While it is possible to view wallet assets, transaction history, and profit/loss dynamics by searching for your wallet address, it is not as subjective or quick. I hope to see the addition of personal wallet information, including a profit/loss calendar and profit/loss screenshot sharing features, which would enhance social attributes.
Summary
Overall, the Binance web wallet is already a very mature product, extremely suitable for users with large funds (high security) and high transaction volumes (low fees).
I sincerely recommend everyone to try and experience more. I believe that in the near future, the Binance wallet team will bring us a more complete and better user experience, making the Binance web wallet the strongest desktop-level trading tool for the primary market!
