Buy, trade, and hold 600+ cryptocurrencies on Binance
- Secures investors’ accounts with usernames and passwords
- Access to private keys for maximum security
- User-friendly
- Decentralised wallet that provides access to hundreds of crypto assets
- In-built DApp browser
- The browser extension wallet can be challenging for newbies to navigate
- High fees
Binance has made a name for itself by becoming one of the largest crypto exchanges globally when it comes to daily trading volumes. Besides offering a trading and investment platform, Binance has a reputable wallet that investors can use to send, receive, and store crypto assets. If you are an investor looking for a reliable wallet to secure your assets or swap for other tokens, Binance offers a browser extension wallet.
Let’s review this wallet to help you decide whether it suits your cryptocurrency investment needs.
Overview
Binance wallet is specifically tailored to simplify transactions on Binance Chain, Binance Smart Chain and Ethereum networks. You can also use the wallet for cross-chain transfers on any device that supports Chrome or Firefox. Plus, you get access to NFTs and a DApp browser that gives you an opportunity to earn more cryptos by staking some.
Note that the Binance wallet is non-custodial, meaning only you have access to your wallet using a private key. This guarantees maximum security and ensures no hackers attempt to access your account. Moreover, Binance provides its users with recovery phrases that you should keep private to recover your account in case you forget your password.
Although Binance wallet is free for download and has no hidden charges, users will incur transaction charges. These charges vary based on the blockchain network you are transacting on. Based on most users, the average transaction cost on Binance is higher than what its peers charge.
Compare Binance with Other Exchanges
Fees
As mentioned earlier, Binance is free to download and set up through a Firefox and Chrome extension. Note that the wallet is an extension of its crypto exchange, meaning you need to create an investment account with Binance exchange to access its wallet. Also, deposit at least £50 as minimum deposit to transact.
While Binance doesn’t charge fees for receiving crypto assets, you will incur charges for cryptocurrency transfers. These charges vary based on the blockchain you transact on. Therefore, ensure you conduct additional research on Binance transaction charges to ensure it fits your budget.
Click here to learn more about Binance fees and charges.
Supported Coins
You can transact with over 350 cryptocurrencies using Binance wallet. Some of the popular assets you will store, stake, receive, and transfer include:
Note that Binance allows you to purchase its supported cryptocurrencies using your digital assets or fiat currencies. Some of the fiats you can transact with include USD, GBP, and EUR using debit/credit cards and bank transfers.
Security
Binance wallet is backed up by highly encrypted security for users’ cryptocurrencies. Although it encourages the use of usernames and passwords, investors are advised to create strong passwords for maximum protection. Plus, the wallet offers recovery phrases to its users so that it will be easier to recover their wallets in case they forget their passwords.
Remember that Binance software/hot wallet is backed up by private keys to ensure only you have access to your cryptocurrencies. In addition, many users highly review it on Trustpilot and trust it with their assets and funds. The wallet has no history of getting hacked, proving it is secure against malicious attackers.
Privacy and Anonymity
As mentioned above, you have complete control of your Binance wallet using private keys. This means that you must securely store your keys for maximum protection. You should also never share your passcode with anyone and consider face ID to avoid remote logins.
Overall, your email and data are safe with Binance wallet. You also have access to a reliable and responsive support service 24/7 to cater to your urgent concerns and demands. So, in case you identify any malicious activities, ensure you immediately report to the support service for assistance.
Customer Support
Binance support service operates 24/7, and you can reach it via email and live chat. There is also a FAQ section for quick familiarisation with some of the wallet’s features. Alternatively, you can reach Binance through community handles, including LinkedIn, Telegram, Facebook, CoinMarketCap, etc.
How to Start With Binance Wallet*
When engaging with cryptocurrencies, it’s crucial to recognise that these digital assets are characterised by their extreme volatility and speculative nature. This can result in swift and substantial price fluctuations. To safeguard your crypto holdings, it is imperative to utilise reputable wallets and exchanges, prioritising the security of your investments.
Also, exercise vigilance and due diligence to guard against crypto-related scams and fraudulent schemes that can potentially threaten your financial well-being. You can also spread your investments across multiple digital tokens and avoid making decisions based on emotions.
Binance wallet is supported on Chrome, Firefox, and Brave browsers. Below is a brief overview of the procedures for getting started with Binance wallet.
- On the Binance wallet direct platform, you will click install extension wallet and be redirected to a Chrome or Firefox link to download.
- Install the wallet extension in your browser and search for Binance Chain once completed.
- Click “Add to Chrome or Firefox” to complete the setup and start using it to manage your crypto assets.
Read about the best crypto wallets in the UK in our other guide.
*Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
Editor’s Note
Binance wallet stands out among many, and we highly recommend it based on our analysis. The wallet supports numerous crypto assets, and you will never lack an option for investing. Moreover, you will also benefit from its inbuilt crypto exchange that hosts NFTs for maximum experience.
Unfortunately, Binance is only available through a browser extension that is compatible with Firefox and Chrome browsers. For users who prefer mobile devices, note that Binance partners with Trust Wallet to ensure you also benefit from cutting-edge services. You can access Trust Wallet via Google Play and the App Store.
FAQs
Besides securing your cryptocurrencies, Binance wallet is tailored to help you easily trade, receive, and transfer digital assets across various blockchain networks. Binance is a hot/software wallet, meaning that you get to own private keys and be in control of your assets. It is a decentralised wallet that also hosts a reputable exchange.
Binance wallet allows users to buy cryptocurrencies using fiat currencies like USD, GBP, and EUR. You can also cash out your wallet using these currencies. Simply sell your assets for cash and have the money deposited in your account.
Yes. Although many investors consider Binance a Binance Coin wallet, it supports Bitcoins and hundreds of additional altcoins. The wallet is self-custody, and you do not need to worry about your assets’ safety since you will be in complete control.
Absolutely. Binance hosts a world-renowned cryptocurrency exchange that you can use to trade and invest. For traders with funds in this exchange, you can transfer them to the Binance wallet by linking both accounts from the settings page on your Binance wallet. Once done, select “transfer” and click “send” on your wallet’s home screen. Choose the amount to send and in what currency before initiating the transfer.
The best crypto platform. Speedy orders are buying and selling. Binance has the highest trafficking among the platforms. Highly recommend it!
I've been using this app for over two years now. Convenient interface, fast withdrawal of money. And most importantly, good account protection.
I love binance because this great platform is amazing for crypto exchange. p2p change is very useful. Had good experiences so far, but heard a lot of mixed experiences as well.
In my opinion one of the best exchanges. I have been using Binance for many years and have been holding stablecoins in savings, staking and trading spots via the API. No problem! Check out without a hitch! Deposit and withdrawal without problems. I deposit and withdraw using the P2P option and it works great with no additional fees. Cryptocurrency always has the risk of “intermittent loss”, never forget that.
Binance is the best crypto exchange. They are very popular. I everyday use binance to buy or sell my crypto and get some value on it. Their spot trade chart is easy to use. Chat with their customer service can be improved. Security is excellent. I really love this exchange is the top cryptocurrency exchange trusted for all over the world!
Great app, it works just like any other app on my phone. No hidden fees, glitches, bureaucracy, etc. Currency can be freely bought and sold. I've been using it for almost a year now.
I used three crypto platforms, and each time I found different glitches. Either the data is loaded for a long time, or the transactions couldn't be sent. In this application, everything works way faster and without problems.
I like the app because I'm sure it's safe. Three of my friends use it and they have never had troubles with the withdrawl, and so as I.
I have been using Binance for over a year. Absolutely hands down the best and most reliable crypto exchange in the world. Very easy to convert coins, thank you.
I join 3 years ago and since then I haven't had any issues with them. Binance is the best crypto exchange I'm using. Anyone can learn trading from the Academy of Binance. Any type of crypto trade, saving can do in Binance.
Would you recommend this provider?
Fees
Account opening
Customer service
Deposit and withdrawal
Binance remains the leading cryptocurrency trading platform, offering a variety of features that make it a great choice for both beginners and experienced investors, prioritizing user safety with a 100% fund security guarantee. I recommend it and am very pleased.