Advantages of Binance Smart Chain Wallets

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By Jacob Maslow

A Binance Smart Chain (BSC) wallet outperforms even the best non-custodial wallets, like MetaMask.

It connects lightning-fast Xdefi wallet transactions to your Binance exchange account. Furthermore, it enables you to safely trade over eighty cryptocurrencies across various devices while paying cheaper transaction costs.

Learn about the six primary benefits of Binance Smart Chain Wallets as mentioned below:

1. Low transaction fees

Connect your BSC (Binance Smart Chain) Wallet to your Binance account using the wallet direct feature to seamlessly transfer crypto assets between them—without copying and pasting wallet addresses for each subsequent transaction.

As a result, if you have BNB (BEP 20) in your wallet, you may save up to 25% on transaction fees—on top of the exceptionally cheap 0.1% spot-trading charge.

To put this in context, the BSC Wallet’s closest rival, MetaMask, charges a 0.3% to 0.875% service cost besides the relevant gas fee.

BSC Wallet also supports a variety of payment and transaction methods, such as credit cards, debit cards, limit orders, market orders, stop-limit orders, and peer-to-peer trading, among others.

It’s no surprise that whales like the BSC Wallet since its modestly decreased transaction rates and many transaction choices make it perfect for massive transactions.

2. Fast transaction speeds

Because Binance Smart Chain is the primary blockchain for the BSC Wallet, it has quicker transaction speeds than most EVM-based wallets.

You may still connect with the other blockchain’s dApps that the BSC Wallet supports in a restricted way.

However, the validators on Binance Smart Chain’s principal network confirm each block of transactions in an average of 3 seconds.

Using this remarkable speed, you might have flawless interactions with dApps over the BSC network especially if you’re a DEX (Decentralized exchange) trader or a developer that has to debug your dApps or smart contract deployment on the relevant blockchain or distributed ledger technology regularly.

3. Compatibility with other platforms

The BSC wallet is available as a website extension, smartphone application, and cold wallet.

Ideally, you should only need to open your BSC Wallet account on one device and platform at the beginning.

For example, you may go to the Binance Chain homepage and download the BSC wallet extension for the browser of your choice. Then, using the wallet’s private keys, create a new wallet or import any existing non-custodial wallet.

Or you may also download the Binance wallet mobile version from the iOS or Android app stores; the link for the mobile wallet should be found on the BSC chain’s official website,

4. Advanced security features

You can open a BSC wallet using your Gmail ID, like a Binance account, to set up 2-factor authentication. In turn, anytime a transaction is conducted on your Wallet, Binance will always authenticate your identity using your Gmail ID.

Though it may appear too close to centralization, you’d have to provide that small portion of your identity if you want that extra protection.

You may also use Trust Wallet to specify a main passcode (the mobile BSC wallet). Alternatively, depending on your device, Trust Wallet may combine with your main lock and fingerprint lock. Furthermore, Binance Chain Wallet is built to interact with cold storage crypto wallets.

5. Easy to use

Binance Smart Chain Wallet is easy to download, register and transact with. You can easily download the wallet as a web browser extension or a mobile application. After downloading, set up a local password, secure your private keys, and access the supported dApps.

To buy cryptocurrency on your wallet address, click on buy now, select your preferred fiat and amount, and choose your payment on your BSC Wallet interface.

When transferring crypto from your Binance Smart Chain Wallet to your Binance account, you need only click the top right corner and log into your Binance account.

But before you do, ensure you have enough BNB BEP-20 in your wallet to cover the transaction fee. Then select connect to account.

In addition, you can easily navigate through the Convert & OTC option on your wallet to convert and swap cryptocurrencies within the wallet.

Should you Open a BSC Wallet?

Choosing a suitable non-custodial wallet might be frightening, worrisome, or both. In this regard, even though BSC Wallet supports several blockchains, has minimal transaction fees, and is relatively quick, its armor contains a crack.

The Binance Smart Chain user evaluations fall short of the desired expectation of an organic BSC non-custodial wallet created by Binance.

So, before you open a BSC Wallet, make a mental and physical map of your landing site.

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