Types of Binance wallets for keeping Assets.
Spot Wallet
The Spot Wallet is the most commonly used wallet on Binance, designed for spot trading.
Key Features:
Holds assets for direct buying, selling, or trading on the exchange.
Supports deposits, withdrawals, and transfers between other wallets.
How to Use:
Deposit funds to your Spot Wallet to start trading cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).
Funding Wallet
The Funding Wallet focuses on transactions outside traditional trading, including P2P trading and Binance Pay.
Key Features:
Ideal for peer-to-peer (P2P) transactions and payment services.
Used for receiving rewards and gift cards.
How to Use:
Transfer assets from your Spot Wallet to the Funding Wallet for P2P trades or sending crypto gifts
Options Wallet
This wallet is specialized for options trading, a financial derivative allowing you to bet on price movements.
Key Features:
Holds collateral for options contracts.
Supports call and put options for various cryptocurrencies.
How to Use:
Deposit funds into your Options Wallet and choose contracts based on market trends.
Sub-Account Wallets
Sub-account wallets cater to businesses and advanced users who need multiple accounts under a single master account.
Key Features:
Separate wallets for managing different strategies or users.
Offers granular control over individual accounts.
How to Use:
Create sub-accounts for trading teams or diversified strategies
Trust Wallet
Trust Wallet, Binance’s decentralized wallet, gives users full control over their private keys.
Key Features:
Supports a wide range of blockchains and tokens.
Allows staking and secure storage outside Binance.
How to Use:
Download Trust Wallet and connect it to Binance for additional functionality.
