Frequently asked questions

Question 1

What is Binance Wallet?

Accepted Answer

Binance Wallet is categorized as a software wallet and a hot wallet. Binance Wallet uses Multi-Party Computation (MPC) technology to enhance security, making it possible for users to manage digital assets, perform cross-chain swaps, access DeFi apps, and earn yield.

Question 2

Is Binance Wallet safe & legit?

Accepted Answer

Binance Wallet has not been involved in major hacks or public scandals. Binance Wallet provides self-custody via MPC-based key-share encryption, splitting control across your device, cloud storage, and Binance. Binance Wallet also has built-in risk controls like wrong-address protection and suspicious-contract alerts. Binance Wallet includes 24/7 customer support to assist when needed.

Question 3

Who created Binance Wallet?

Accepted Answer

Binance Wallet is built and maintained by Binance, the global cryptocurrency platform founded by Changpeng Zhao

Question 4

Where is Binance Wallet's company based?

Accepted Answer

The company behind Binance Wallet, Binance Holdings Ltd. previously headquartered in China, then Japan, and Malta.

Question 5

How does Binance Wallet work?

Accepted Answer

Binance Wallet is easily integrated into the Binance mobile app. Binance Wallet makes it possible for users to generate and store three encrypted key-shares (on device, in cloud, and with Binance), backed by a recovery password only known to the user. Binance Wallet supports cross-chain swaps, DApp access via Binance Bridge, and security alerts on token or blockchain risk.

Question 6

When was Binance Wallet launched?

Accepted Answer

Binance Wallet officially launched November 25 2023.

Binance Wallet

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Web3

Form

Storage

Platform

Software

Custody

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Security

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Recovery

Features

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