Binance Web3 Wallet Introduce at Istanbul Event
The world’s leading cryptocurrency firm, Binance, introduces one of its most ambitious projects, the Binance Web3 Wallet, at the Binance Blockchain Week conference in Istanbul.
The Binance Web3 Wallet uses Multi-Party Computation (MPC) technology to protect user funds without needing seed phrases.
In an official statement by the company co-founded by Changpeng Zhao or CZ, the launch of the Web3 wallet aims to provide millions of users with a secure, user-friendly gateway to Web3, aiming to simplify the onboarding process.
Binance Web3 Wallet Introduction
Binance revealed in an official statement that the Web3 Wallet is a self-custody cryptocurrency wallet that functions as a digital entry point into Web3 and will be integrated with the Binance app.
The company, which is considered the world’s largest cryptocurrency in terms of trading volumes, highlighted that it will grant users the ability to securely and efficiently exchange tokens across diverse networks at optimal rates, access to a range of dApps, facilitate swift transfers between their wallet and the exchange, generate yield on their cryptocurrency holdings, and more—all through a single wallet.
Binance CEO CZ stated, “Web3 wallets represent more than just storing digital assets; they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance.”
The Founder also stressed that his company, Binance, believes Web3 will improve the freedom of money worldwide and that the industry must continue to build tools that onboard and protect users while reducing friction for them.
Most Prominent Features of Binance Wallet
- Simple and Easy-to-use wallet that allows users to access DApps and DeFi directly within the Binance mobile application.
- It provides a user-friendly way to earn interest in cryptocurrencies, perform cross-chain trades, and trade crypto through Earn and DeFi services.
- Split the user’s private keys into three parts, stored in different locations, making it more difficult for hackers to steal a user’s funds.
- Enhance security protection
- Lowers the entry barriers for users to achieve full self-custody of their assets.
- Ensure users can explore Web3 in a user-friendly and protected environment.
Teaser of the Binance Web3 Wallet
Meet the brand new #Binance Web3 Wallet!
— Binance (@binance) November 8, 2023
Simple, convenient and secure.
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