The Binance wallet is a tool within the Binance platform that allows users to manage their cryptocurrencies and access various decentralized finance (DeFi) functions. The Binance wallet enables users to buy, sell, and exchange cryptocurrencies, as well as interact with decentralized applications (dApps) and earn yield on their assets.

Types of wallets in Binance:

Spot Wallet:

It is the main space for managing cryptocurrencies and executing buy/sell operations at the current market price.

Web3 Wallet:

A self-custodial wallet that allows users to interact with dApps and different blockchains, using MPC technology for security.