Binance’s rise to the top has been nothing short of spectacular and based on what they’ve achieved so far, there are no signs of them slowing down soon. Due to this rise in popularity, more traders are starting to use Binance and their native token, BNB, to interact with the Binance ecosystem.
BNB can be used in many ways on Binance, including paying for trading fees on their Exchange and interacting with DeFi products.
BNB also helps to facilitate payments and transactions for many DApps (Decentralized Apps) on the recently released Binance Smart Chain (BSC).
Recently, the price of BNB has exploded due to the emergence of Binance Smart Chain as a major competitor to Ethereum. With the increase in interest and investors in Binance, BNB holders are looking for the best wallet to secure their Binance Coin on.
Luckily, we’ve got you covered. In this guide, we’re going to detail the absolute best wallets for securing your BNB.
This guide includes:
- Quick Questions about BNB
- The Best Software BNB wallets
- The Best Hardware BNB Wallets
Quick Questions About BNB
There are many wallets available for BNB holders, but before we get into our guide, let’s cover some quick questions regarding BNB —
a.) What is a BNB wallet?
A BNB wallet is a Cryptocurrency wallet where you can store your Binance coin safely and securely.
b.) Does Binance have a wallet?
Binance does have its own native wallet, Binance Chain Wallet. It’s a browser extension that allows BNB holders to safely send, receive and transfer BNB on Binance Chain and Binance Smart Chain.
BNB can also be stored on a Binance account wallet, which is essentially the wallet associated with their Binance account.
c.) Is BNB coin a good investment?
BNB is used to complete various functions across the Binance chains, so as more users use Binance to trade and store assets, the value of BNB will rise.
With the growing number of investors and users of the Binance network, it’s safe to say that BNb remains a stable long-term investment.
d.) Why is the price of BNB crypto going up?
Due to the popularity of Binance’s trading platform, and the ever-growing cost of Ethereum gas fees, many DeFi products, DApps and staking platforms are now being launched on BSC and on Binance.
These products offer minimal gas fees and faster network performance compared to Ethereum, fuelling a surge in interest in Binance and BNB.
e.) What type of wallet can I use to store BNB?
When Binance launched their main net, BNB then became a BEP-2 coin on the Binance Chain.
This essentially means it’s the equivalent of an ERC-20 coin, but on Binance’s own network. The Binance Smart Chain also has its own token, BEP-20.
This means users need either a software or hardware Cryptocurrency wallet that supports BEP-2 and BEP-20 coins to store their BNB.
The Best BNB Software Wallets
Now, many market-leading software Cryptocurrency wallets support BEP-2 and BEP-20 coins alongside other major networks such as Cardano and Ethereum, meaning you can now store all of your assets in one wallet.
The following software wallets are the best options for ensuring the safety of your BNB —
1.) Trust Wallet
Trust Wallet is the most popular mobile-only Cryptocurrency wallet available. It allows BNB holders to safely secure and manage their assets whilst retaining full control of their private keys at all times.
On Trust Wallet, you can store coins from all major networks, with the added option to backup your BNB assets available for an added layer of security.
An inbuilt Web3 browser allows you to interact with popular BSC DApps such as PancakeSwap through Trust Wallet, and due to its status as “Binance’s official digital wallet”, you can access Binance’s DEX (Decentralized Exchange) through the app with Trust Wallet/WalletConnect support.
Being the most popular Binance wallet available, users are provided with comprehensive security, including 2FA, pin and biometric support.
Staking your BNB on Trust Wallet offers up to 30% APR, which is a much better option than storing on an exchange, with the added peace of mind that they’ll be fully secured by Trust Wallet.
Binance Chain Wallet is the native wallet application for Binance, available as a browser extension for Chrome, Firefox, and Brave.
It allows users to transfer assets between the two chains, interact with DeFi products and DApps and safely store their BNB
Binance users can use the “Binance Bridge” to facilitate cross-chain transfers to Binance chains, alongside the “Wallet Direct” option to directly transfer their BNB between their Binance Chain Wallet and their Binance account wallet.
When creating an account, you’ll receive a Keystore file alongside a password. Both are essential for accessing your account, so don’t lose them!
Metamask is a wallet that is available as a browser extension and a mobile app.
It offers users a secure key and seed phrase vault, safer login functionalities and better security when interacting with DeFi products across the BSC network.
Connecting your Metamask wallet to BSC is simple, and once connected, users can safely spend, stake and swap their BNB on DApps and DEXes across the network, as well as interact with smart contracts and DeFi products.
Whilst Metamask was designed for use on the Ethereum network, BNB holders can connect to the BSC and hold their assets on there through an inbuilt token wallet for all of your BEP20 and BEP2 coins, alongside an integrated token exchange.
Being a browser extension, it’s great for those who plan on using DeFi products and exchanging between wallets often due to the low cost of gas fees on Binance Smart Chain.
4.) Atomic Wallet
Atomic Wallet is one of the more popular multi-functional desktop wallets available for BNB holders, offering top-tier security and management of your assets.
Atomic Wallet provides the same security protocols as Binance Chain wallet, alongside inbuilt swap functions through “Atomic Swap”, which allows users to exchange their assets to BNB and vice versa, all from the wallet.
Atomic Wallet also provides a Fiat gateway, meaning users can buy popular cryptocurrencies such as Bitcoin and Ethereum and then swap them for BNB in the wallet.
5.) Exodus Wallet
One of the original Cryptocurrency wallets, Exodus Wallet has been around since 2016 and remains one of the most popular desktop wallets available on the market.
Exodus supports all major Cryptocurrencies, and like Atomic Wallet provides an inbuilt swap function that allows users to swap their favourite assets to BNB with just one click.
It provides full support for BNB, allowing users to send, receive and store BNB in Exodus’ free, fully secure BNB Wallet.
The Best BNB Hardware Wallets
A hardware wallet is a cryptocurrency wallet that stores the user’s private keys in a secure, offline hardware device.
Hardware wallets are also known as “Cold Storage” wallets, as they’re designed for long-term storage of assets in safes or other safe places. Here are the best options for BNB:
Ledger has proven itself to be the most popular hardware cryptocurrency wallet on the market. It provides comprehensive security for your BNB and is easy and simple to configure.
It offers two models, the Ledger Nano X & Ledger Nano S, both of which offer full BNB support.
To use a Ledger wallet, users plug it into the USB port of their computer. Ledger is only functional in-person, ensuring the safety of your assets as private keys are stored offline. It comes with only two buttons and requires a PIN.
The Ledger wallet is accompanied by the Ledger Live app, a mobile platform that allows users to securely manage their assets and keys alongside being able to buy and exchange using inbuilt swap and Fiat gateway functions.
Ledger offers full integration and interaction with the Binance Chain Wallet, allowing you to easily transfer your BNB between the two wallets.
SafePal is the first hardware wallet that is backed by Binance Labs. It provides a secure and user-friendly platform for your Cryptocurrencies through hardware and software wallet products, which are managed by the SafePal App.
Users can store, manage and trade their crypto assets using the app as well as manage their NFT’s, the newest and most interactive asset class in the industry.
The hardware wallet is designed to be robust, long-lasting and easy to use, with the app also offering a friendly, simple interface for users.
As Safepal is backed by and invested in by Binance, you can be assured that you’re receiving the best security possible for your BNB, both through the hardware and software wallets.
Safepal offers 100% offline interaction through an “Air-gapped” mechanism, meaning no Bluetooth, wifi, NFC or USB connection is needed to interact with your Safepal wallet.
If you’re a BNB holder looking for a reliable wallet, you’re spoilt for choice!
Whether it’s a software or hardware wallet, BNB is now widely supported, so you’re sure to find the right wallet for your needs using our guide above.
As a bonus, you now also know more about BNB and the abundance of Cryptocurrency wallets available that can safely secure your BNB for you.
*StormGain doesn’t support BNB yet, but you can always buy other popular cryptocurrencies and swap using one of the wallets above