1.What is Binance's Web3 Wallet?
Binance's Web3 Wallet is a self-managed cryptocurrency wallet within the Binance app designed to empower users in the decentralized finance (DeFi) sector. As a digital gateway for blockchain-based applications (dApps), the wallet provides users with a secure and affordable way to manage cryptocurrencies and perform token swaps. across multiple chains, earn yield, and interact with multiple blockchain platforms.
2. Will I be charged network fees when using Binance Web3 Wallet?
Blockchain transactions involve network fees. These fees (gas fees) are needed to compensate miners or validators for contributing computational resources to process and confirm transactions on the network. Exact fees may vary depending on network traffic and the blockchain you are using.
3. Is Binance's Web3 Wallet a self-managed wallet? Who controls my money?
Yes, Binance Web3 Wallet is a self-managed wallet. You have full control over your money and assets. Therefore, you are solely responsible for protecting your assets and backing up your wallet.
