Binance does some interesting things in the crypto industry. But to get full access to there magicks you’ll need a Binance Smart Chain wallet. Here’s why:
They run their own blockchain. And it’s a pretty good one at that. It’s similar to Ethereum. Functioning as a currency ($BNB) and also supporting smart contracts–enabling decentralized applications. But although there are similarities between the two blockchains, you’re going to need separate wallets.
But, fortunately the guys and gals at Binance have made it pretty simple to download, install and use with Chrome. Though as with everything, there are a few basic requirements.
Requirements for a Binance Smart Chain wallet
Google Chrome. A basic requirement you’ve probably already got!
It’s incredibly important to do this. Make sure you’re installing a legitimate copy of the Binance Smart Chain wallet. This should be obtained from the Binance.org website.
Make sure you’re downloading a legitimate copy
There’s quite a lot on the Binance.org site, but this is where you’ll find the official links to what you’re looking for.
Scroll down to the Getting started with dApps" section.
You can use any of the other options given, but I prefer the Binance Chain Wallet extension.
It’s readily accessible. Just scroll down on the homepage and goto the Get your wallet panel and click View.
Installing the Binance Chain Wallet extension
If you’re on Chrome, you’ll be linked to the Chrome extension store where you can install the Wallet. I’m not 100% sure for other browsers, but you’re Chromium-based (check this) then you can probably still use the Chrome web store, but leave a comment if you can’t and I’ll expand on this.
Binance Chain Wallet is the correct name. I know I’ve referred to is a Binance Smart Chain wallet so far. Binance Chain wallet allows you to connect to the Smart Chain too. Have no fear.
Create a new Wallet
After installing, you’ll be able to access your wallet from your browser like you would with MetaMask. If you’ve never used Metamask, don’t worry–it’s another browser-based wallet for Ethereum tokens.
Make sure you remember your password to your wallet. I don’t think I need to stress the importance of this.
Importantly, however, you may not be familiar with seed phrases. But make to store it in a safe place. It’s super important. It’s essentially the master key to your Smart Chain wallet, and it cannot be recovered. Your seed phrase should be treated with utmost respect. If it is hijacked, you’re down for. Regardless of what your password is.
Doom and gloom to one side. And storing your seed phrase, you can now bask in the glory of your new found companion Binance Smart Chain wallet.
Creating a Binance Smart Chain wallet is simple: go to Binance.org, find the Google Chrome extension link, install the extension, create a wallet, and there you have it. Just remember to store your seed phrase in a safe place!
I’d love to hear some feedback from you, so please: leave a comment.