What is Binance Web3 Wallet?
Binance Web3 Wallet is a self-custody cryptocurrency wallet integrated directly into the Binance app. The wallet allows users to self-custody their cryptocurrency, perform cross-chain token swaps, earn yield, and interact with multiple blockchain platforms.
Binance Web3 Wallet uses MPC technology, creating 3 independent key-shares and stored in different locations, including devices and cloud storage. This eliminates the traditional method of storing seed phrases in one location, reducing the risk of compromise and loss to users.
In addition, to emphasize user control and commitment to self-management, the wallet also provides an “Emergency Export” function, allowing users to export their keys in necessary cases.