What is Binance Web3 Wallet? How to use Binance Web3 Wallet

php The editor will introduce you to the Binance Web3 wallet: This is a decentralized encryption wallet based on Web3 technology that supports a variety of digital asset management and enables safe and convenient asset management and transactions. Users can access directly through a Web3 browser without downloading and installing the App, making the operation simple and convenient. Using the Binance Web3 wallet, users can safely store, send, and receive cryptocurrencies, participate in DeFi projects, NFT markets, etc., and experience a more independent and secure digital asset management method.

Users can not only travel in the world of decentralized finance (DeFi) and decentralized applications (DApp), but also enjoy 24/7 exclusive customer service.

What is Binance Web3 Wallet?

Binance Web3 Wallet is a key component of Binance App, providing users with convenient decentralized finance (DeFi) services and committed to creating a user-friendly cryptocurrency wallet.

By using Binance Web3 Wallet, users can conveniently access blockchain and decentralized applications (DApps). This wallet has safe and efficient digital asset management functions, and can perform token exchange, income earning and other operations on various blockchain networks.

How does the protocol work?

Binance Web3 Wallet uses multi-party computation (MPC) technology, which is an advanced encryption security system that eliminates the need for users to store private keys in a single location. This wallet uses MPC to generate three "key shards", which are stored in the user's Web3 wallet, cloud storage, and device. Each key shard is protected by a recovery password known only to the user.

Key Features of Binance Web3 Wallet

Easy to Use

Easily create a Binance Web3 wallet in the Binance App in just seconds. Unlike traditional cryptocurrency wallets, Binance Web3 wallet does not require cumbersome mnemonic phrases or private key settings, making it very convenient and fast to use.

Convenience

Binance Web3 Wallet features seamless connectivity with Binance Bridge and other service providers, allowing users to easily exchange tokens between different blockchain networks with guaranteed Best exchange rates and prices. In addition, users can also browse various DApps and earn income through simple operations.

Securities

Binance Web3 Wallet has many important security features, such as wrong address protection and identification of potentially malicious smart contracts. When making a transaction, the wallet will immediately notify users if there is a potential security risk to the token or blockchain. In addition, each transaction will undergo strict review using multi-party computation (MPC) technology to reduce the risk of single points of failure, thereby ensuring the security of assets.

Self-hosted

The Web3 wallet is encrypted by three "key shards" and a recovery password known only to the user, so the assets are fully controlled by the user.

Customer Service

Users enjoy 24/7 customer service to ensure a safe and smooth experience.

How to use Binance Web3 Wallet

1. Log in to your personal account on Binance App and go to [Funds].

#2. Next, click [Web3] and [Create Wallet] to start using it.

#3. Please note that before using Binance Web3 wallet, you must first make a backup and set a recovery password.

How to back up Binance Web3 wallet

1. On the initial page of the Web3 wallet, click [Backup Now].

#2. Binance App is associated with a cloud storage account (iCloud or Google Drive).

3.Set a backup password and keep it properly. Binance cannot access or reset this password, so be sure not to lose it.

4. Back up the key to personal cloud storage.

5. The backup is completed and the wallet can now be used normally.

Funds can be easily transferred directly from Binance spot and funding accounts to Binance Web3 wallet.

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