Last update: 09.12.24
These Binance Wallet terms of use (“Binance Wallet Terms”) apply to your access and use of the Binance Wallet Services (as defined below).
The Binance Wallet Terms are supplemental to and shall be read together with the General Terms and the provisions set out in the General Terms shall continue to apply to your use of the Binance Wallet Services. These Binance Wallet Terms constitute Product Terms within the meaning of the General Terms. References in the General Terms to the Binance Services shall include references to the Binance Wallet Terms contemplated hereunder. In the event of any conflict or inconsistency between these Binance Wallet Terms and the General Terms, these Binance Wallet Terms shall prevail with respect to the services contemplated hereunder, unless expressly stated otherwise.
These Binance Wallet Terms govern your access and use of the Binance Wallet Services. By accessing and using the Binance Wallet Services and creating a Binance Wallet, you agree to these Binance Wallet Terms.
The Binance Wallet Terms do not govern your use of Third-Party Services. Your reliance on and use of Third-Party Services through the Binance Wallet Interface will generally be subject to separate terms and conditions prescribed by a Third-Party Service Provider relating to the applicable Third-Party Service. Those terms and conditions may involve separate fees and charges and / or may include disclaimers or risk warnings about reliance on or the accuracy of any information. Such Third-Party Service Providers may also apply a privacy policy different from the one which Binance maintains. It is your responsibility to understand the terms and conditions of Third-Party Services, the risks associated with the use of these Third-Party Services, including how those Third-Party Service Providers use any of your information under their privacy policies.
Please read these Binance Wallet Terms carefully to understand your rights and obligations.
These definitions shall apply to these Binance Wallet Terms when they are used with a capitalized word. Unless otherwise defined below, other capitalized words used in these Binance Wallet Terms and not defined hereunder shall have the same meaning given to them in the General Terms.
Aggregated Wallet has the meaning given in clause 4.1.2 of these Binance Wallet Terms.
Binance Wallet refers to the keyless multi-party compute Digital Asset wallet accessible through the Mobile App.
Binance Wallet Interface refers to the application-hosted user interface labeled as “Web3” in the Mobile App and the services accessible through it as described in clause 4.2, accessible through the Mobile App, subject to you creating a Binance Wallet and maintaining a regular Binance Account.
Binance Wallet Services means the Wallet Services and the Binance Wallet Interface. The Binance Wallet Services do not include any Third-Party Services.
Blockchain refers to a permissionless public online ledger supporting the distributed recording of encrypted data, e.g., the BNB Chain or the Ethereum blockchain. Blockchains supported by the Binance Wallet are made available to you in the dedicated section of the Binance Wallet Interface.
Blockchain Address refers to a unique sequence of numbers, letters and cryptographic functions stored and recorded on a Blockchain.
DApp means a third-party protocol and / or application interacting with a Blockchain.
General Terms means the Binance general terms of use, as made available here.
Third-Party Service means any service, asset, product or feature accessible through the Binance Wallet Interface which is not provided, issued, operated or maintained by Binance or a Binance Affiliate, such as Digital Assets, information services, DApps (including third-party decentralized exchanges or so-called DEXs, lending and borrowing protocols, staking or other yield-generating protocols), and / or any service identified as a third-party service in these Binance Wallet Terms.
Third-Party Service Provider means any person (not being Binance or a Binance Affiliate) providing, issuing, operating or maintaining a Third-Party Service, including a Third-Party Issuer and any other person identified as a third-party service provider in these Binance Wallet Terms.
Wallet Services refers to the Binance Wallet and the Wallet Aggregation Services.
Wallet Aggregation Services refers to the services described in clause 4.1.2 of these Binance Wallet Terms.
Warnings has the meaning given in clause 9 of these Binance Wallet Terms.
In order to access the Binance Wallet Services and create a Binance Wallet, you must have a regular Binance Account not subject to any restrictions or limitations, and maintain such a Binance Account in accordance with the General Terms and requirements provided by Binance. Your Binance Wallet is tied to your Binance Account and you must hold a regular Binance Account at all times in order to use and access your Binance Wallet and the Binance Wallet Services without restrictions and limitations.
Upon confirming your eligibility, Binance may create a Binance Wallet and provide you with the Binance Wallet Services as described below. Binance may, at its sole discretion, reject your request to create a Binance Wallet or provide you with the Binance Wallet Services, including without limitation to comply with any Applicable Law.
When creating a Binance Wallet, you must follow the required steps as outlined to you in the Mobile App. In particular, you will be invited to back-up your Binance Wallet and Binance strongly recommends that you use the Recovery Service and Cloud Back-up Services (as defined below) and appropriately back-up your Binance Wallet at the moment of the creation of your Binance Wallet.
The Wallet Services include the Binance Wallet and the Wallet Aggregation Services.
The Binance Wallet is a multi-party compute (MPC) Digital Asset wallet which allows you to:
store and maintain Digital Assets on Blockchain Addresses that you control;
send or receive Digital Assets to and from third-parties;
transfer Digital Assets to and from Blockchain Addresses controlled by Binance reflecting the Digital Assets you hold on your Binance Account, including to seamlessly pay for network fees;
send Digital Assets or otherwise interact or transact with Third-Party Services;
view your Digital Assets holding on different Blockchain Addresses across different Blockchains;
view the history of transactions made with your Binance Wallet; and
manage authorisations and approvals granted to Third-Party Services.
Your Binance Wallet relies on multi-party compute (MPC) technology, a technology that uses cryptography and alters the traditional method of storing cryptographic private keys by eliminating the need to retain them in one sole location. Your private keys are divided into three key shares (also known as ‘shards’) and you understand and agree that out of these three key shares, (i) only one is stored and controlled by Binance and (ii) two are stored on your mobile device and controlled by you through such device. You have the option and the ability to back-up these two key-shares stored on your mobile device via the methods made available to you through the Mobile App (hereafter, “Recovery Service”). As part of the Recovery Service, your key shares may be safeguarded using third-party cloud services such as iCloud Drive and Google Drive the (“Cloud Back-Up Services”) so that when you lose your device or otherwise lose access to your Binance Wallet, you may recover your Binance Wallet relying on such Cloud Back-Up Services and Binance. You acknowledge and agree that Binance may sub-contract the storage and management of the one key share that is controlled by Binance.
While the Recovery Service is optional, Binance strongly recommends you to use such service which will facilitate the recovery of your Digital Assets if you lose access to your Binance Wallet. You understand and agree that if you do not activate the Recovery Service and the Cloud Back-Up Services, you may permanently lose access to your Digital Assets, and that Binance shall bear no liability whatsoever for any financial or other loss resulting from losing access to your Binance Wallet. It is your responsibility to verify that your key shares are properly backed up, using the Recovery Service and the Cloud Back-up Services or any other method that you see fit. In particular, you acknowledge and understand that clearing your device's cache could result in the loss of such key share and you undertake to verify whether the Recovery Service is properly functioning regularly and as recommended to you by Binance from time to time in the Mobile App.
You understand and agree that out of these three key shares, two are necessary to initiate transactions and exercise control over the Blockchain Addresses associated with your Binance Wallet and that Binance never has access nor control over two key shares and therefore does not exercise control over your Digital Assets. You understand and agree that Binance does not hold, nor has control over the assets held on Blockchain Addresses controlled by you, through your Binance Wallet. Binance does not provide you with any deposit, fiduciary, custody or trust services and only allows you to create and use the Binance Wallet, while safeguarding one key share out of three for recovery purposes only.
The Wallet Aggregation Service provides a unified view of your Blockchain Digital Asset holdings through the Binance Wallet Interface by importing the private keys of third-party Digital Asset wallets in order to control and use those associated Blockchain Addresses (“Aggregated Wallet”). You may send, receive or transfer Digital Assets using your Aggregated Wallet through the Binance Wallet Interface.
In contrast to the Binance Wallet, Binance does not provide any recovery or back-up service in relation to your Aggregated Wallet. You understand and accept that you are solely responsible for the retention and security of your private key(s) and any mnemonic phrase (“Secret Phrase”) associated with an Aggregated Wallet. You must keep your Blockchain Addresses, Secret Phrase, and private key access of Aggregated Wallet secure. It is very important that you backup your private keys, backup phrases or passwords associated with your Aggregated Wallet. Failure to do so may result in the permanent loss of control of Digital Assets associated with your Aggregated Wallet. If you have not safely stored a backup of any wallet address and private key pairs maintained in your Aggregated Wallet, and you lose access to the Wallet Aggregation Services or the Binance Wallet, you accept and acknowledge that any Digital Assets you have associated with such wallet address may permanently become inaccessible and / or result in an irrecuperable loss of funds. Binance shall not be liable for any losses or damages arising from the loss, deletion, or destruction of any private keys, backup phrases or passwords associated with your Aggregated Wallet.
The Binance Wallet Interface is a mobile front-end software interface which provides you access to third-party digital asset services and including:
a quote aggregation service for exchanging Digital Assets against other Digital Assets on the basis of quotes provided to you in real time (“Swap Feature”);
access to Third-Party Services offering yield-generating services subject for you to transfer and lock your Digital Assets in smart contracts operated by third-parties (“Earn Feature”);
access to Airdrops, rewards and marketing campaigns (“Campaigns”) offered by Binance or third-party token issuers (“Third-Party Issuers”)
information on market data and signals, Digital Assets prices, non-fungible tokens and other Digital Asset market-related information (“Market Data Services”); and
access to a web-browser integrated into the Binance Wallet Interface (“Search Feature”).
You may engage in transactions involving the exchange of Digital Assets for other Digital Assets through the Binance Wallet Interface. You understand and agree that when using the Swap Feature, you will receive quotes aggregated by Binance originating either from Third-Party Services and / or from Binance. These quotes are provided for your information only, and you are solely responsible for determining whether to enter into a transaction at the price and fees displayed to you.
When a quote is obtained from Third-Party Services, you understand that Binance only aggregates such quotes from the Third-Party Services for your reference purposes. Binance does not control these Third-Party Services and is not the party providing you with the price that is displayed through the Binance Wallet Interface. Binance does not provide any warranty or guarantee that you will be able to enter into a transaction at the prices quoted to you from Third-Party Services. When you accept the quote originating from a Third-Party Service, you understand and accept that you will enter into a transaction with an anonymous third-party through the Third-Party Service and that Binance will not be involved in such a transaction.
When you accept a quote bearing the label “Binance Bridge”, you understand and agree that you will enter into a transaction with Binance or a Binance Affiliate, as applicable depending on the jurisdiction where you are located and the relevant Binance Affiliate offering you Binance Services. Any use of the Binance Bridge service is subject to the relevant provisions of the Convert Product Terms and by using Binance Bridge, you agree to be bound by such Product Terms.
After accepting the specified quote by clicking on the relevant functionality of the Binance Wallet Interface, you will enter into an irreversible transaction. You understand and accept that the relevant Blockchain Address controlled by your Binance Wallet will interact with Binance or the Third-Party Service you have selected and that you will enter into a transaction with Binance or such third-party.
Whether you enter into a transaction with Binance or with a third-party through a Third-Party Service, it is your responsibility to check the competitiveness of the price and decide whether to accept the quote that is displayed. You understand and accept that entering into a swap through a Third-Party Service can expose you to price slippage and therefore lead to a loss of value of your Digital Assets. You should always look at the parameters provided by the Third-Party Service in order to manage your price slippage.
In certain circumstances as provided in the Binance Wallet Interface, you may decide to enter into transactions without receiving different quotes from Third-Party Services but only one. When you use such feature, you understand and agree that Binance will execute a Digital Asset Transaction through a pre-determined Third-Party Service selected by Binance, on the basis of different parameters such as historical data on transactions and fees and which depends on the Blockchain where you enter into such Transaction, in which case you authorise Binance to select such Third-Party Service Provider on your behalf and you agree that your transaction may not be executed at the best price or conditions, depending on market conditions.
Through the Binance Wallet Interface, you may access yield-generating Third-Party Services offered by Third-Party Service Providers for Digital Assets. Binance only provides you with an interface to view and deal with these Third-Party Services. Binance does not make any representation, warranty, guarantee or claim on the suitability of the Third-Party Service made available to you and you understand and agree that by clicking on the relevant functionality through the Binance Wallet Interface, you will transfer your Digital Assets from a Blockchain Address controlled by you to a Third-Party Service, including a DApp, smart contract and / or a protocol controlled by a third-party (and not Binance or any Binance Affiliate) exposing you to certain risks as identified in clause 8 of these Binance Wallet Terms.
You will be subject to the terms and conditions and functionalities of the Third-Party Service and relevant smart contract and / or protocol functionality. Depending on the circumstances and conditions you agree upon, your Digital Assets can be locked into the relevant Third-Party Service and smart contract or protocol and claiming back your Digital Asset can be subject to certain conditions. You understand and agree that if the relevant DApp, smart contract or protocol is hacked or if there is any incident, this can affect your Digital Assets, which could be permanently lost as a result of the hack or the incident, even after the occurrence of the incident.
The Binance Wallet Interface will grant you access to Campaigns offered through the relevant section of the Binance Wallet Interface and in particular the section labeled as “Airdrop” section. You understand and accept that the Campaigns displayed in the Binance Wallet Interface may not be offered by Binance but managed and operated by Third-Party Issuers. While Binance may partner with Third-Party Issuers to offer you the ability to access Campaigns and token rewards, Binance does not vet, endorse or approve any Third-Party Issuers or Campaigns accessible by you through the Binance Wallet Interface.
The amount of rewards offered in the context of a Campaign and the terms and conditions to obtain such rewards and participating in the Campaign will vary upon each Campaign and will depend on the terms and conditions decided over by Third-Party Issuers or by Binance, as provided to you in the Binance Wallet Interface. You understand and accept that Third-Party Issuers may set the terms and conditions of these Campaigns, and particularly the tasks or missions that are offered to you. By accepting the relevant Campaigns terms and conditions made accessible to you through the Binance Wallet Interface and when they are offered by Third-Party Issuers, you agree to be bound by such terms and conditions and enter into a contractual relationship with the Third-Party Issuer in relation to the relevant Campaign, and not with Binance.
Rewards in any form that are allocated to you in connection with a Campaign will be unlocked and transferred to one of your Binance Wallet Blockchain Address (or your Binance Account if such rewards do not constitute Digital Assets stored and issued on a Blockchain) at the end of the relevant Campaign and subject to your compliance with the terms and conditions of such Campaign. Participation in a Campaign is subject to eligibility based on your country or region of residence and Binance’s KYC and compliance procedures.
You may access Market Data Services through the Binance Wallet Interface. Any market-related information or trading signals on prices, Digital Assets, projects, DeFI protocol or any other information made available to you through the Binance Wallet Interface is provided for your information only and does not constitute an endorsement or recommendation from Binance. Information made available to you may be aggregated by Binance on the basis of various parameters such as trading volume, liquidity, and other data such as social media activity. You understand and accept that Binance does not guarantee a strict availability or accuracy of Market Data Services. The content provided in the context of the Market Data Services may be submitted or taken from unrelated third-party providers or sources. Binance does not review or monitor content for accuracy, completeness or reliability, and does not warrant or guarantee the accuracy, completeness, reliability or any other aspect of any content.
You may search and access websites on the internet through the Search Feature. You should exercise caution when visiting third-party websites and clicking on links, as well as carefully consider and understand the terms and conditions of any websites that you access. While Binance may from time to time screen and provide security warnings in respect of potentially malicious or high-risk websites, Binance does not review, monitor, endorse or control any third-party websites, and does not warrant or guarantee the accuracy, completeness, reliability or any other aspect of those third-party websites.
You must not use the Search Feature to engage in any illegal or malicious activities or visit any websites which are prohibited by any Applicable Law. Binance may, at its sole discretion, restrict access to certain websites available through the Search Feature.
From time to time, the Search Feature may also display DApps, smart contracts or protocols. You understand and accept that such DApps, smart contracts or protocols displayed through the Search Feature are not offered by Binance but are managed and operated by Third-Party Service Providers. Binance does not vet, endorse or approve any DApps, smart contracts or protocols that can be accessed by you through the Search Feature.
Binance may charge fees in consideration of providing you the Binance Wallet and the Binance Wallet Services. Any fees Binance charges you will be disclosed at the time you access the relevant Binance Wallet Services and/or are made available to you on the Binance Wallet Interface.
Such fees may be subject to change, which includes introducing new fees and/or charges. If you do not wish to accept the changes, you are free to close your Binance Account in accordance with the General Terms. Your continued access to or use of the Binance Wallet Services will be deemed acceptance of the new fees.
Blockchain transactions require the payment of transaction fees to the appropriate network (e.g. so-called gas fees). You will be solely responsible to pay transaction fees for any transaction that you initiate via the Binance Wallet Interface. These fees may be charged in addition to our own fees.
You must ensure that you have an adequate balance in the relevant Blockchain Addresses controlled by your Binance Wallet or Aggregated Wallet to complete transactions before initiating a transaction. Binance shall not be liable for any failed transactions due to insufficient funds in your Binance Wallet or Aggregated Wallet.
You may incur charges from Third-Party Service Providers for use of Third-Party Services, including but not limited to fees via the DApps that you may access via the Binance Wallet Interface. You should carefully consider whether such fees are appropriate for you.
You may decide to use Digital Assets held through your Binance Account to pay for network fees for transactions initiated through your Binance Wallet (“Gas Account Service”). When you use the Gas Account Service, Binance will advance the relevant amount of network fees and you agree to trigger a withdrawal from your Binance Account to a Blockchain Address controlled by Binance in order to pay for the relevant network fees to Binance. You understand and agree that the relevant provisions of the General Terms on “Withdrawals” shall apply where you use the Gas Station Service, and that such provisions are provided to you by the relevant Binance Affiliate.
The Binance Wallet Services and Binance Wallet allow you to engage in and access ‘Web3’, including Third-Party Services, Campaigns offered by Third-Party Issuers, and market-related information and websites published by Third-Party Service Providers. You acknowledge and agree that Binance does not own, control, verify or endorse any Third-Party Service Provider, nor does it warrant or guarantee the accuracy, completeness, reliability or any other aspect of any materials, content, services, products or transactions by any Third-Party Service Provider. Binance may be unable to provide any or all of the Binance Wallet Services or the Binance Wallet as a result of any disruption or failure on the part of any Third-Party Service Provider. You are solely responsible for determining whether to use the Binance Wallet Services and the Binance Wallet to engage with any Third-Party Service Provider.
The Binance Wallet Services and Binance Wallet are provided on an “as is” and “as available” basis without any representation or warranty, whether express or implied, to the maximum extent permitted by Applicable Law. Specifically, Binance disclaims any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement for the Binance Wallet Services and Binance Wallet. Binance may, from time to time, suspend access to the Binance Wallet Services and Binance Wallet at its discretion, including for scheduled and emergency maintenance. Binance makes no representations or warranties that the Binance Wallet Services and the Binance Wallet will be continuous, uninterrupted, timely or error-free.
Without prejudice to any other provision in these Binance Wallet Terms and the General Terms, you hereby acknowledge and agree that in no event will Binance or any Binance Affiliate be responsible or liable to you or any other person or entity for:
any loss arising out of or in connection with any Third-Party Services or any action, conduct or omission of any Third-Party Service Provider, including any application, Digital Asset, protocol, software, feature, transaction or information provided, issued, operated, executed or maintained by such third-party;
any loss of Digital Assets arising from your failure to appropriately secure, store or back-up your Binance Wallet or Aggregated Wallet;
any transaction entered through the Swap Feature, Earn Feature or Campaign between you and a third-party (including a Third-Party Service Provider) or made through a Third-Party Service;
any risk identified in clause 8 of these Binance Wallet Terms (Assumption of Risks);
any action or inaction in accordance with these Binance Wallet Terms;
Binance’s decision to restrict, suspend or terminate your access and / or use of the Binance Wallet Services or the Binance Wallet; or
any limits or restrictions Binance may apply to your access and / or use of the Binance Wallet Services or the Binance Wallet, from time to time.
Your Binance Wallet only supports the Blockchain protocols listed in the relevant section of the Mobile App (e.g. the section labeled as “Networks”). Under no circumstances should you attempt to use your Binance Wallet to store, send, request, or receive any assets on Blockchains or other forms of distributed protocols that are not supported by the Binance Wallet. Binance assumes no responsibility in connection with any attempt to use your Binance Wallet with Blockchains or other forms of distributed protocols that are not supported by the Binance Wallet. You acknowledge and agree that Binance is not liable for any Digital Asset that is sent to your Binance Wallet on an unsupported blockchain protocol. You should consult regularly the list of available Blockchains in the Binance Wallet Interface.
By creating a Binance Wallet and using the Binance Wallet Services, you represent and warrant that you have read and understood the Binance Wallet Guide, which is made available to you here.
You also represent and warrant that you are financially and technically sophisticated enough to understand the inherent risks associated with using cryptographic and blockchain-based systems, and that you have a good understanding of Digital Assets such as crypto-assets, stablecoins, NFTs and other types of Digital Assets, as well as the functioning of Blockchains, the concept of Blockchain Addresses, wallet, seed phrase and multi-party computation (MPC) technology.
In particular, you understand that the markets for these Digital Assets - particularly the markets labeled as belonging to “Decentralised Finance” or “DeFi” or more broadly “Web3” and that you can access through the Binance Wallet Interface are nascent and highly volatile due to risk factors including, but not limited to, adoption, speculation, technology, security, and regulation. You understand that anyone can create a token, including fake versions of existing tokens and tokens that falsely claim to represent viable projects, and acknowledge and accept the risk that you may mistakenly trade those or other tokens. The fact that you can access a token, a DApp, a smart contract or a protocol through the Binance Wallet Interface does not mean that Binance or a Binance Affiliate endorses it or has undertaken a due diligence on it. The Binance Wallet Interface is a getaway that may be used by you to access unregulated, innovative third-party services, and you should be cautious and reasonable when you access such services.
You also understand that smart contract transactions automatically execute and settle, and that Blockchain based transactions are irreversible when confirmed. You acknowledge and accept that the cost and speed of transacting with cryptographic and Blockchain based systems are variable and may increase dramatically at any time. The network fees associated with certain Blockchain transactions can be extremely high and sometimes higher than the value of your transaction.
You further understand and acknowledge that Third-Party Services such as protocols, DApps, ‘DeFi’ services can be subject to hacks and malicious attacks, which can result in the loss of the funds held on the Blockchain Addresses accessible through your Binance Wallet. You must carefully review any interaction with Third-Party services, and particularly, DApps, protocols and smart contracts. Granting an authorisation to a Third-Party Service to access or spend your funds can result in a loss of funds even a long period after you granted such authorisation, as any authorisation or approval you grant may stay valid indefinitely. To avoid potential financial losses and to manage your risks, you should carefully manage authorisations granted by you to Third-Party Services such as smart contracts and protocols, particularly by using the relevant function offered by the Binance Wallet Services and accessible through the Binance Wallet Interface and other relevant services, allowing you to manage your smart contract approvals.
In summary, you agree and acknowledge that Binance is not responsible for any of variables or risks, does not own or control Third-Party Services, and cannot be held liable for any resulting losses that you experience while accessing or using Third-Party Services. Accordingly, you understand and agree to assume full responsibility for all risks associated with accessing and using of the Binance Wallet Interface to interact with Third-Party Services.
Certain transactions, Third-Party Services and other services accessible through the Binance Wallet Interface are subject to various security screenings and checks. You may receive alerts and warnings, inviting you to carefully review certain transactions, authorisations or approvals you may grant to Third-Party Services (“Warnings”). You understand and agree that these Warnings are provided for your information only and that Binance cannot guarantee with absolute certainty that a Third-Party Service is safe or without any risk. You acknowledge and accept that in case you decide to proceed with a transaction, approval or authorisation despite the notification of a Warning, you may expose yourself to a variety of risks, including potential loss of funds and / or your personal data that may be associated with your Binance Wallet and your Aggregated Wallet. Binance recommends that you do not enter into any transaction or action if you have been notified of a Warning.
Binance may, at its sole discretion, limit your access and / or use to the Binance Wallet and the Binance Wallet Services in part or in whole, and in certain situations, without providing any prior notice to you, as this may be required by any Applicable Law or because you violated the General Terms.
You understand and agree that any restriction or limitation on your Binance Account, such as the inability to enter into Transactions or access the Binance Services may result in restrictions and limitations to the Binance Wallet Services. In particular, Binance may, at its sole discretion, restrict your access to the Binance Wallet Interface which will prevent you from accessing Third-Party Services with your Binance Wallet and through the Binance Wallet Interface. You are reminded that in order to access your Binance Wallet through the Mobile App, you must maintain and hold a Binance Account in accordance with the General Terms at all times.
Termination of your Binance Account for any reason whatsoever, including any reason under the General Terms, may result in losing access to the Binance Wallet Services.