What is the Best Wallet to Store Binance Coin?

Best BNB Wallets of 2022-

Binance Chain Wallet

The Binance Chain wallet is the official wallet for the Binance Coin, and so it is the most feature-rich wallet for the Binance coin. This makes it the sought and one of the best BNB crypto wallets of 2022. It’s also useful in accessing the Binance Chain, Binance Smart Chain, and Ethereum.

It is trustworthy and reliable since Binance makes it. The wallet also has the approval and conforms with FCA. Using the wallet is easy, especially if you already have a Binance account. All you need is to link it with your wallet directly.

You don’t have to worry about losing access to your wallet. You can always recover it via your Binance Chain wallet seed phrase, Gmail login, local device, or the account tkey credentials.

Since it’s the official wallet for Binance, transaction fees are quite low compared to competitors.

The wallet tends to lag in some situations and takes a little longer to respond. However, their excellent customer service will help you in a difficult situation.

Coinomi

Although Coinomi is a multi-chain wallet, it’s a top security wallet for Binance that users highly rate and consider one of the best Binance wallets of 2022. It provides an outstanding security feature where users’ private keys never leave their devices.  The wallet also has strong encryption and cryptography that guarantees your Binance coins’ safety.

Coinomi offers one of the best customer services that is available 24/7. Users can get assistance via live chat, the website help page, or its ticket support system.

Receiving Binance coins on the wallet is free. Users will, however, pay a standard network fee when sending Binance to other wallets. The fees go directly to Binance coin miners and not to Coinomi. Users also have the option to customize transaction fees.

The wallet has millions of users and boasts a high level of trust and security. Since its launch, no Coinomi Wallet has ever suffered a hack or other compromise.

The only downside is that Coinomi is not hardware compatible.

Exodus

Exodus has no KYC requirements but uses Simplified Payment Verification, making it one of the most accessible wallets to open and use. The wallet believes in the privacy and anonymity of users. Storage and encryption occur on your hard drive as the user instead of Exodus’ platform. That way, users are guaranteed robust security and privacy.

Users usually have a 12-word recovery phrase to help them if they lose access to their wallets. You can also use email restoration to recover your account. Their customer service is also responsive and professional and is typically available 24/7. Users can always access customer support via email.

Exodus does not charge any fees for receiving cryptocurrency. However, senders pay a nominal network fee when sending cryptocurrency.

Its layout and design are sleek, and you can complete Binance coin transactions with a click.

However, transaction fees are customizable on the wallet but for select crypto coins.

Ledger Nano S Hardware Wallet

The Ledger Nano S Hardware wallet commands trust thanks to its robust security protocols. The wallet boasts a large user base due to its unique protocols, such as the tamper-resistant standard criteria and certified secure Element chips. Unlike online wallets, users’ private keys never leave their devices and thus can never get accessed on the web by hackers.

Fees on Ledger are also customizable, and the fees you set determine the transaction’s speed.

Compared to competitor hardware wallets costing $59, it is the cheapest and has no history of cryptocurrency loss. The prices can also go down depending on where you acquire the wallet. Users also get free shipping occasionally offers to the US and a couple of other international destinations. The delivery package includes a micro USB-B cable and a sheet to write the 24-word recovery phrase.

It’s a great wallet to store your Binance coins, although the initial price of the wallet makes it an issue. Also, the wallet provides no mobile support.

Trezor Wallet

Trezor beats all other hardware wallets in terms of asset security, and this partly explains its large number of users and why it is considered by many the best wallet to store BNB. First, firmware verification always confirms the firmware signature and only runs if it is correctly signed. Operations involving private or public keys are only completed upon user authentication, and there is a recovery seed in case of loss or destruction.

The wallet is available in two models, Trezor one and model T, and both have a smooth user interface and an onboarding process. Transaction fees are also competitive among hardware wallets.

Although it has recently grown slow, the wallet has solid customer support.

Closing Thoughts

As an industry running for over a decade, it’s no longer a new phenomenon. Many cryptocurrency enthusiasts are already familiar with a couple of cryptocurrency wallets. However, with the number of wallets growing every day, it’s difficult to cut through the noise and find a secure wallet. If you want to start your journey with the Binance coin, the choices above will be quite useful as they are some of the best BNB wallets of 2022.