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The development of the BSC network of decentralized applications is rapidly gaining momentum. The first step to getting acquainted with the blockchain is choosing a crypto wallet
The Binance Smart Chain blockchain was launched on September 1, 2020 and has become a medium for the development of decentralized applications. The goal of the project was to introduce smart contracts into the Binance ecosystem. At the same time, the high bandwidth of the Binance Chain network and the trading speed of the BNB token remained intact. Both blockchain exchanges operate in parallel and independently of each other.
Binance Smart Chain supports the BEP-20 token standard, which uses the same features as its Ethereum counterpart ERC-20, whereas Binance Chain supports the BEP-2 token standard. For the exchange of tokens between networks, the Binance Bridge is used.
Binance Smart Chain (BSC) Wallets
To work in BSC, you must first decide on the choice of wallet. Many wallets support this blockchain. We talk about the most popular options.
The main network of the Metamask wallet is Ethereum. But you can connect a variety of blockchains to it, and this is quite simple. It is enough to add a new network in the settings by entering the necessary parameters. All data for configuration is publicly available on the Binance website. There is also detailed instructions on how to connect the wallet to the BSC network.
The strengths of the Metamask wallet can be called the security and simplicity of transactions, the ability to store NFT and crypto-collectible items, pay for the purchase of cryptocurrency directly from a bank card.
Metamask is a non-cadastral wallet, that is, private keys are stored on the user’s device. The wallet can be used using the browser extension or by downloading a mobile application.
Trust Wallet has been part of the Binance ecosystem since 2018. It is among the easiest to use mobile wallets.The wallet is decentralized. You control your private keys and can enjoy complete freedom of action regarding your cryptocurrency. If necessary, you can access your funds using keys without using the Trust Wallet application itself.
This wallet supports staking for many cryptocurrencies, including Tezos, Tron and others, and also has built-in gateways for payment by card, that is, cryptocurrency here can also be bought directly in it.
There is an extension for browsers and applications for mobile phones. Instructions for setting up on the BSC network can also be found on the website.
Binance Chain Wallet
Binance Chain Wallet is the official cryptocurrency wallet for accessing binance Smart Chain. This is an easy option to store tokens and work with some applications in the BSC through an extension in the browser. The add-on can be installed in Chrome, Firefox and Brave. User-friendly interface and ease of use make it easy to get started with the blockchain even for beginners.
You can link an existing Binance account to this wallet, using Wallet Direct, and it will be possible not to copy addresses when transactions between them. On the official website of the Binance exchange there are detailed instructions on settings and working with the wallet.
Binance Chain Wallet is similar to other browser-based cryptocurrency wallets such as MetaMask or TrustWallet. In it, you can easily and quickly exchange BNB for other tokens, create your own NFT. The wallet interacts with DApps applications (for example, PancakeSwap) in the Binance Smart Chain network. This makes it possible to participate in staking, pharming and swaps.
Klever is a simple decentralized crypto wallet that has been supporting the BSC network since October 2020. It also allows users to take full control of their private keys and buy cryptocurrency in-app with a credit or debit card.
An interesting feature of the wallet is a swap, as the main option for exchanging coins. It allows users to directly exchange one coin or token for another, from one blockchain to another (e.g. BTC to TRX or ETH) safely, confidentially and quickly.
Klever also boasts high-level encryption technology that helps prevent theft, such as hacking, SIM number spoofing, and other methods of deceiving users.
MathWallet is a non-custodial multi-currency and multi-platform wallet that works with most blockchains. The peculiarity of the wallet is the support of all existing cryptocurrencies today. If a coin is not on the list, madd it yourself.
MathWallet is very convenient, because it can be used as a browser extension, as a web wallet or through an application for iOS and Android devices. It provides a lot of flexibility and can be used on multiple devices.
The company itself does not produce hardware crypto wallets, but cooperates with world-famous manufacturers Ledger and WOOKONG Bio, whose devices support MathWallet.
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