Catenaa, November 23- Binance, the world’s largest cryptocurrency exchange by trading volume, today announced the launch of its first-ever self-custody Web3 wallet.1 The new wallet will allow users to store, manage, and trade their digital assets without the need for a third-party custodian.
The Binance self-custody Web3 wallet is a non-custodial wallet, which means that users will have complete control over their private keys. This is in contrast to custodial wallets, where users must trust a third-party custodian to store their private keys.
Binance said that the new wallet would support a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. Users will also be able to use the wallet to interact with decentralized applications (DApps) and access DeFi services.
The Binance self-custody Web3 wallet is available now on the Binance website and mobile app.
Binance is the world’s largest cryptocurrency exchange by trading volume. The company offers a wide range of products and services, including spot trading, margin trading, futures trading, and options trading. Binance also has a suite of DeFi products and services, as well as a venture capital arm.
Explaining the highlights of the Binance Web3 Wallet Binance said in its media communique:
Optimal Cross-Chain Token Swaps: Leverage the power of Binance Bridge and other leading decentralized exchanges (DEXs) to trade a vast array of tokens across various networks, while enjoying deep liquidity and minimum slippage.
Effortless Transfers: Complete swift and streamlined transfers between the Exchange and your Binance Web3 Wallet, and move across Centralized Finance (CeFi), Decentralized Finance (DeFi), and Web3 platforms seamlessly.
Enhanced Security: Binance Web3 Wallet uses state-of-the-art Multi-Party Computation (MPC) technology to create three separately stored “key shares”, eliminating a single point of failure.
In-built Risk Alerts: Receive alerts on any potential security risks associated with tokens or blockchains via Binance Web3 Wallet. 1
- Binance: https://www.binance.com/en/support/announcement/binance-launches-binance-web3-wallet-888b567370b64ad5b9e6e31d3f9decd9[↩][↩]
