• Product Name: Binance Web3 Wallet

  • Type: Non-custodial cryptocurrency wallet

  • Developer: Designed and developed by Binance.

  • Integration: Built into the Binance app and part of the Binance ecosystem

  • Primary Features: Allows users to securely store and manage digital assets

  • Enables interaction with decentralized applications (dApps) and DeFi protocols

  • Purpose: Serves as a secure and convenient gateway to Web3 functionalities.

  • The wallet was develped to cater to both crypto novices and seasoned users, and designed to facilitate access to web3's wide range of services and applications.

  • The wallet uses multi-party computation (MPC), which distinguishes it from other non-custodial wallets like MetaMask and Bitget Wallet. MPC is a cryptographic scheme that splits the private key into multiple parts.

  • The Binance wallet stores these key fragments in three different locations: on Binance servicers, on a user’s device and in the cloud.

  • Shortly after its launch, Binance integrated its web3 wallet with Binance Bridge, enabling token swaps across multiple blockchains.

    ✅Features and functions

  • The Binance Web3 Wallet allows its users the ability to self-custody their digital assets, rather than store them on a centralized exchange like Binance.

  • Users bear the responsibility of safekeeping their assets without being exposed to third-party exchange risks like theft or hacks.


    $BNB

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