Binance Wallet Review 2025 – Features, Security, and Fees

Eric Huffman

Verified by Ilija Rankovic

Last updated

December 15, 2025 02:59 EST

15min read

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Binance is the world’s largest crypto exchange by a wide margin, so it’s no surprise that its built-in crypto wallet, Binance Wallet, is one of the most popular on the market.

The Binance Wallet offers a wide range of features and promises airtight security, making it worth considering for both new and experienced crypto users. However, it’s up against a lot of other great wallets in a crowded field—so it’s important to know all the details about this app before choosing a wallet.

In our Binance Wallet review, we’ll dive into this wallet’s security, Web3 features, user experience, fees, and more. Keep reading to decide if Binance Wallet is right for you.

What is Binance Wallet?

Binance Wallet is a non-custodial wallet launched by crypto exchange Binance in 2023. It’s integrated directly into the Binance exchange experience and can be accessed right from the Binance mobile app. Importantly, you must have a Binance account in order to use Binance Wallet.

However, unlike Binance’s built-in custodial wallet that comes with every Binance exchange account, Binance Wallet is non-custodial and gives users complete control over their crypto assets. It also enables them to connect with the wider, decentralized world of Web3.

Notably, Binance Wallet is distinct from Trust Wallet, another non-custodial wallet that Binance acquired in 2018. While Trust Wallet has a close connection to the Binance exchange, it operates independently. Trust Wallet isn’t directly integrated into Binance’s apps and doesn’t require a Binance account.

Is Binance Wallet Safe To Use?

Safety and security are the most important things when comparing wallets, so we’re going to take a deep dive into Binance Wallet’s safety features.

First, to be clear, this is a non-custodial wallet. It’s separate from the custodial wallets that Binance uses by default when you buy and sell cryptocurrencies on the exchange. You own the wallet keys and are responsible for keeping them safe. Binance never has access to your keys and can’t help you if you lose them.

That said, since Binance Wallet is part of the Binance exchange, it’s important to think about whether Binance is safe. By most accounts, it is one of the most secure exchanges in the world. Binance has suffered several hacks and data leaks, but it has always replaced lost customers’ funds immediately and has made significant security changes in response. The most recent hack that impacted customers’ funds was in 2019.

Binance has a Safe Assets Fund for Users (SAFU) and offers proof of reserves to prevent a bank run. The exchange also has cybersecurity measures like two-factor authentication, anti-phishing codes, and 24/7 threat monitoring.

In addition to Binance’s general security measures, Binance Wallet has some additional, wallet-specific security features.

Multi-Party Computation (MPC)

Binance Wallet uses multi-party computation (MPC) encryption to secure users’ keys. This approach involves creating three keys stored in different locations, including on your device and in the cloud. The cloud-based key requires a recovery password that only you know. In general, MPC security is considered superior to more traditional seed phrase security.

Wrong Address Detection

One of the risks in cryptocurrency is that if you send tokens to the wrong wallet address, there’s no way to get them back. Binance Wallet helps address this problem with wrong address detection, which alerts you if you try to send tokens to an unusual wallet address. It’s not perfect at detecting wrong addresses, but it can help prevent some costly mistakes.

Malicious Contract Warnings

Binance Wallet will also alert you if you try to send tokens to a malicious smart contract address. Binance automatically scans the contract code and warns you of potential issues before completing your transaction. It’s another way the wallet can save you from a costly mistake or falling victim to a scam.

Authentication and Backup Options

The Binance app uses two-factor authentication (2FA) by default to keep your wallet secure. It supports Google Authenticator as well as Binance’s own Binance Authenticator app.

Binance Wallet enables you to backup your wallet in the cloud by creating an encrypted recovery phrase that you can export. This recovery phrase is protected by a recovery password known only to you. This is very helpful since it means you can regain access to your wallet even if Binance were to ever cut off access to its app.

Binance Wallet Supported Coins and Networks

Binance Wallet currently supports 34 blockchains, including the most popular Layer-1 and Layer-2 networks. Some of the supported networks include:

• Bitcoin
• Ethereum
• BNB Smart Chain
• Solana
• Fantom
• Optimisim
• Arbitrum
• Base
• Litecoin
• Tron
• Sui
• Dogecoin
• TON
• Mantle
• Avalanche
• Polygon

It’s an impressive list, although not the widest range of support we’ve seen. That crown goes to Best Wallet, which supports more than 60 chains.

Binance Wallet’s range of supported networks means that it’s compatible with virtually all ERC-20, BSC-20, and BRC-20 tokens, as well as Bitcoin Ordinals. You can also add any tokens that use these standards to your wallet as custom tokens. If there’s an upcoming Binance listing, chances are very high it’s compatible with Binance Wallet.

Binance Wallet Features

Binance Wallet is packed with features to help you trade crypto, navigate Web3, and more. Let’s take a closer look.

Token Swaps

Binance Wallet enables you to swap tokens between blockchains and trade on-chain using DEXs. You can use Binance Bridge, Binance’s own DEX that aggregates price and liquidity data from thousands of exchanges. You can also connect directly to other top DEXs using Binance Wallet’s dApp library.

Binance Wallet also includes tools to help you trade, like social sentiment monitoring and advanced technical charts. Since it’s in the Binance app, you can also use all of Binance’s trading features to identify opportunities and then return to Binance Wallet to execute a swap.

dApp Support

Binance Wallet has a ‘Discover’ panel where you can find and connect to dozens of dApps. It’s essentially an in-app Web3 browser with a marketplace of featured dApps like Pancakeswap, BeraHub, Venus, Maverick Protocol, and a lot more.

Staking

Binance Wallet also supports decentralized staking pools for popular tokens like ETH, BNB, USDT, USDC, and DAI. This is separate from Binance’s centralized staking offering, which is also available within the Binance app. APYs range from 0.75% for BNB staking to 4.86% for DAI.

Binance Alpha

Binance Alpha is a new token launchpad where top emerging cryptocurrencies hand-selected by the Binance team can be featured. It offers a streamlined way to invest in the best crypto presales, although the selection of tokens available for investment isn’t huge.

Binance doesn’t guarantee that tokens on Binance Alpha will end up listing on the main exchange, but these projects certainly would seem to have a leg up.

DEX Pro Mode

The DEX Pro Mode is an advanced feature within Binance Wallet that bridges centralized and decentralized trading. It supports automated limit orders with no upfront gas fees, market orders, real-time metrics, and multiple pending orders. This feature is powered by Secure Auto Sign (SAS), meaning you can sign transactions without giving up control of your private key. Moreover, you can place a limit order without the need to lock your funds.

Meme Rush

Binance Wallet recently got a new addition - Meme Rush. This feature uses Four.Meme's token launch technology, which allows you to discover early-stage meme tokens directly from your wallet. However, the tokens are not just listed randomly. Each token goes through three stages:

• New stage (tokens follow a bonding curve model and remain non-transferable)
• Finalizing stage (tokens continue bonding curve mechanics ahead of migration)
• Migrated stage (tokens that reach their milestone become fully transferable and migrate to a decentralized exchange)

High-performing tokens may later get listed on Binance Alpha.

Is Binance Wallet User-Friendly?

Binance Wallet can feel somewhat overwhelming for first-time users, but on the whole, we found the user experience to be pretty good. The main issue that users will face in using Binance Wallet is that there’s just a lot going on. You have access to all of the wallet’s features alongside all of the features of the Binance exchange platform, which offers a laundry list of capabilities and tools. So, if you don’t know what you need or want to find a specific feature, it can be easy to get lost.

That said, once you get used to Binance Wallet, it’s relatively seamless. The fact that you don’t need to download an extra app is a plus, and the integration with Binance is a real selling point. You can easily buy crypto on Binance, for example, and send it straight to Binance Wallet. You can also transfer tokens between your custodial Binance wallet and Binance Wallet with just a few taps.

A menu across the top of the wallet display makes it fairly easy to send, receive, swap, or stake tokens. The main display shows your token balances, and you can tap on any token to pull up a chart and learn more about it. It would be nice to have a panel with featured Web3 apps on the wallet’s front page, but this is a minor complaint.

While previously only available on mobile (iOS and Android), Binance Wallet recently introduced an extension for Chromium-based browsers (Chrome, Edge, etc). Its interface mirrors that of the mobile app, but on a larger screen, with a less cluttered layout.

Binance Wallet Customer Support

Support for Binance Wallet is provided by the main Binance exchange customer support team. That’s good and bad. On the one hand, it means you can get in touch relatively quickly by live chat, email, and social media, and you don’t have to go searching for Wallet-specific channels.

On the other hand, Binance Web3 Wallet reviews from users indicate that not every Binance customer service representative is well-versed in the wallet and its differences from the Binance exchange platform. So, you may have to contact support a few times to get a representative who can help effectively.

Binance also has an online help center, although Binance Wallet only receives a few articles within this knowledge base. There’s not a ton of information, especially compared to the tutorials that Binance offers about its other features.

Binance Wallet vs Other Top Crypto Wallets

It’s worth comparing Binance Wallet against other top crypto wallets before deciding which one is right for you. Binance Wallet’s main advantage is that it’s fully integrated into the Binance exchange experience, but other wallets outperform it in areas like supported blockchains, user experience, and features.

Here’s how Binance Wallet stacks up against Best Wallet, Margex Wallet, Zengo, and Bybit Wallet.

• Bybit Wallet is perhaps the most similar to Binance Wallet in that it’s a non-custodial wallet integrated directly into the Bybit exchange app. Like Binance Wallet, Bybit Wallet is designed to support Web3 exploration, decentralized token staking, and token swaps.
• Best Wallet is also worth comparing to Binance Wallet. It’s not affiliated with an exchange, but supports more than 60 blockchains and has a huge range of features that Binance Wallet doesn’t offer—like an integrated iGaming hub and advanced portfolio management tools.
• Zengo Wallet has limited network support, but stands out for innovative features like a legacy transfer program and time-secured Bitcoin vaults. It also mimics Binance Wallet’s Web3 connectivity with a dApp marketplace of its own.

How to Get Started With Binance Wallet

Here’s how to get started using Binance Wallet in a few easy steps.

Step 1: Download the Binance App

To get started with the Binance Wallet, head to Google Play or the Apple App Store and download the Binance mobile app.

Step 2: Create a Binance Account

Open the Binance app and tap Sign Up. Enter your email address or phone number, or sign up with a Google, Apple, or Telegram account. Then tap Next.

Binance will send you an email or text message to verify your account. Enter the code provided to complete your account setup.

Step 3: Set Up Your Wallet

To open the menu, tap the menu icon in the upper left-hand corner of the main Binance dashboard. Then tap More and select Binance Wallet. Tap Create Wallet and follow the on-screen prompts.

Step 4: Back Up Your Wallet

Tap Backup Now to create a backup of your wallet and set a recovery password. Be sure to keep your recovery password somewhere safe since this provides access to one of your wallet’s key fragments. You’ll need this recovery password to restore your wallet if needed in the future.

Binance Review Conclusion: Is It Good Enough?

Our Binance crypto wallet review found that it’s a very convenient wallet for current Binance customers who want to take full control over their crypto. Binance Wallet is a non-custodial wallet created and fully integrated into the Binance exchange app. It enables you to connect to the wider world of Web3 without leaving the Binance ecosystem.

However, Binance Wallet does have a bit of a learning curve for new users, and it doesn’t support as many networks as competing wallets like Best Wallet. So, think carefully about whether the added convenience of having a non-custodial wallet inside the Binance app makes sense for you.

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Eric Huffman

Eric Huffman's background includes a decade plus in business management as well as personal finance industry experience in insurance and lending. A strong understanding of consumer finance combined with a consumer advocate stance brought Eric to the crypto industry, where he writes articles and guides aimed at making crypto easier to understand.

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