November 3rd, 2022
Binance Coin or BNB is one of the popular cryptocurrencies known other than its competitive cryptos including Bitcoin, Litecoin, Dogecoin, Ethereum, Shiba Inu, and more. It is known to be the native cryptocurrency of the world’s most popular cryptocurrency exchange Binance. Earlier it was ERC20, but currently, it is BEP2 on Binance Chain. However, it is still supportive of ERC-20 tokens since December 2019. But you can only withdraw the BEP2 token standard. Today we are going to bring down the list of some of the best Binance coin wallets. But first, let us have a brief overview of Binance coin BNB wallets.
About Binance Coin & BNB wallets
The release of the Binance coin or BNB took place in July 2017 during the initial coin offering. The main objective behind it was to drag investments for the sake of Binance exchange development. 3 years ago with the launching of the Binance Chain network, all the BNB tokens were shifted to its blockchain till 23rd April. Currently, a modified version of Tendermint consensus has been used by Binance Chain.
Under the ICO terms, a distribution of 50% of the Binance Coin tokens took place among the investors. Where forty percent was meant for the team, the remaining ten percent went to venture investors. Around 15 million USD was collected by the team. The investors who came in support of the exchange were mainly from China.
The sum was not in a bigger amount since some projects did make a collection in huge amounts not having working products and business. Where 35% of the money got used for brand promotion and advertisement on the development of the platform, security, and modernization, the remaining 15% was left for the reserve fund.
Binance exchange has now established a leading front in terms of the crypto trading volume. There has been a rise in the traffic of customers by a million per week. However, for a while, the registration of the new traders got closed. There are numerous ways to use BNB. As an example, it can be used as a medium to make fee payments on its native crypto exchange, Binance.
Top 2 BNB wallets to consider
Now it’s time to look at some of the top BNB wallets below.
Trust comes as the best BNB coin wallet. It is a completely decentralized wallet and offers you a simple mobile app for the management of one’s tokens and coins. It also lets management of private keys. Most of the tokens that are presented on the market can be stored in a Trust wallet. Another advantage of this multi-cryptocurrency wallet is the creation of a backup copy of all the assets. It is supportive of the BNB token of the ERC20 version and also the BEP2 standard.
Trezor comes as the next best option for storing BNB coins. It is an open-source cryptocurrency wallet for hardware. Contrary to other compromised methods, Trezor ensures security and anonymity to its users. Plus, this wallet is also supportive of storage, receipt, and transferring more than six hundred cryptocurrencies.
Trust and Trezor are the two best BNB wallets where you can store your Binance coins safely and securely. To explore other topics including Binance coin wallet recovery and more, log on to the Cryptoknowmics website, a hub of all crypto-related queries.
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