Binance Wallet Tutorial (Full Web3 Wallet Guide)

1. Getting Started with Binance's New Mobile Crypto Wallet
2. Setting Up Your Binance Web 3 Wallet
3. Creating and Backing Up Your Binance Web3 Wallet
4. Securing Your Binance Web3 Wallet
5. Adding Assets to Your Binance Web3 Wallet
6. FAQ

Getting Started with Binance's New Mobile Crypto Wallet

Binance recently launched a mobile crypto wallet and in today's video I'm going to show you how you can get started using it. Also, if you're watching this video before December 31st, 2023, then by making one simple swap in Binance's new wallet, you will qualify to enter an airdrop campaign where you could win up to one whole Bitcoin.

Setting Up Your Binance Web 3 Wallet

Now, since Binance's new web 3 wallet is only available on mobile devices, you're first going to need to hit up the app store and make sure that you download the Binance app. Also, at this point, I'm assuming that you already have set up a Binance account because you're going to need to have one of those as well. However, if you haven't, simply download the Binance app and quickly register for an account.

Creating and Backing Up Your Binance Web3 Wallet

Now, once you have completed that step, this is what the Binance app actually looks like and you're going to want to hit on the bottom right-hand corner where you can see that it says wallets. The default wallet is just showing the assets that you're holding on the Binance exchange. So, I have about $25 worth of crypto held on the Binance Exchange, but you'll notice that at the top, now you can toggle between exchange wallet and web3 wallet. And by creating a web3 wallet, you will be able to use Binance's new product, you'll be able to make one swap, potentially qualify for a massive airdrop, and also you'll be able to use this just like you use, for example, the Uniswap wallet or the Coinbase wallet on your mobile device.

Securing Your Binance Web3 Wallet

So, I'm going to go ahead and hit create wallet. It takes a couple of seconds to initialize, but it's super quick and easy and just like that, my web3 wallet for Binance has been created. Now, if I hit the backup button, it's going to ask me if I want to back it up through the cloud or with a QR code, but either one of these is going to allow you to take control of your own crypto assets held in Binance wallet. And so, that means if you ever lost your phone or for some reason lost access to your Binance account, as long as you have backed it up and saved that backup somewhere safe, you will be able to restore access to your crypto funds on another device or another wallet.

Adding Assets to Your Binance Web3 Wallet

However, before we can use the wallet to make a swap and then potentially qualify for that airdrop, we're going to need to get some assets into this wallet. So, you'll notice at the top there's a few buttons: one says send, and if I was to hit on that, I could send money from my Binance wallet to another wallet. Of course, I don't have any money yet, so I'm actually going to need to start by hitting on the receive button.

FAQ

Q: How can I get started with Binance's new mobile crypto wallet?
A: To get started with Binance's new mobile crypto wallet, you need to download the Binance app from the app store and have a registered Binance account. You can also participate in an airdrop campaign by making a simple swap in the wallet before December 31st, 2023.
Q: What steps are involved in setting up a Binance Web 3 wallet?
A: To set up a Binance Web 3 wallet, you first need to download the Binance app on your mobile device and have a registered Binance account. Then, you can create a web3 wallet through the app to access Binance's new features.
Q: How can I create and back up my Binance Web3 wallet?
A: To create a Binance Web3 wallet, open the Binance app and navigate to the wallets section. You can toggle between exchange wallet and web3 wallet, and by creating a web3 wallet, you can make swaps, potentially qualify for airdrops, and use it like other mobile wallets. To back up the wallet, you can choose to back it up through the cloud or with a QR code.
Q: How do I secure my Binance Web3 wallet?
A: To secure your Binance Web3 wallet, you can hit the create wallet button in the app to initiate the wallet creation process. After creating the wallet, you can back it up through the cloud or with a QR code. By backing up your wallet, you ensure that you can access your crypto assets even if you lose your phone or access to your Binance account.
Q: How do I add assets to my Binance Web3 wallet?
A: To add assets to your Binance Web3 wallet, you need to navigate to the wallet section in the app and hit the receive button. This allows you to receive assets into your wallet, which is necessary before you can make swaps and potentially qualify for airdrops.