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“Binance Chain Wallet” is an outdated name. The current product is Binance Wallet; Binance renamed its former Binance Web3 Wallet in December 2024. You can use it from the Binance mobile app, through Binance Wallet Web at web3.binance.com, or with the Binance Wallet Chrome extension.
This guide covers creating the wallet, backing it up, restoring it, receiving and sending tokens, and using Binance Wallet on a desktop. No command-line commands are needed.
What Binance Wallet is—and what it is not
Binance Wallet is a self-custody MPC wallet. It is separate from the ordinary custodial wallet used for balances on the Binance exchange.
Instead of showing you one conventional private key or a standard 12- or 24-word recovery phrase, the keyless wallet uses three key-shares. Two of the three shares are required to control the associated blockchain address. Binance holds one share, while the other shares are associated with your devices and configured recovery methods.
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You still need an active, unrestricted Binance account. The wallet is linked to that account, so losing access to the account or having it restricted can also prevent access to Binance Wallet Services.
| Interface | Where to find it | Best for |
|---|---|---|
| Mobile app | Binance app → Wallet (or Asset → Wallet) | Creating, recovering, sending and receiving |
| Web | web3.binance.com, or Binance → More → Binance Wallet | Web-based wallet access and supported Web3 activity |
| Chrome extension | Google Chrome Web Store → Binance Wallet | Connecting a wallet to compatible desktop websites and dApps |
How to create Binance Wallet on a phone
- Install or update the official Binance mobile app and sign in to your Binance account.
- Open Wallet. Depending on the app version, you may need to open Asset first and then tap Wallet.
- Tap Create Wallet.
- Follow the on-screen setup instructions.
The setup creates an MPC/keyless wallet. Do not expect Binance to display a normal seed phrase for this wallet. The important next step is configuring a recovery method.
Back up Binance Wallet before depositing funds
Creating the wallet is not the same as securing a recovery route. If you lose your phone, reinstall the app, clear relevant app data, or lose a locally stored key-share without an active recovery method, access may be permanently lost.
Binance documents three backup options:
- Quick Backup, protected by device biometrics
- iCloud on iPhone or Google Drive on Android
- QR-code backup
Option 1: Quick Backup
- Choose Quick Backup during the wallet backup process.
- Approve the backup with your device biometrics.
Quick Backup does not require a recovery password. Its restoration process uses multi-factor authentication and a liveness check, and the account’s KYC information must match the person completing that check.
Option 2: iCloud or Google Drive
On iOS, sign in to iCloud and allow the Binance app to use iCloud storage. On Android, sign in to Google and allow the app to access Google Drive.
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- Select iCloud or Google Drive.
- Create a recovery password.
- Tap Continue.
- Read the safety information, select the confirmation boxes, and tap Continue.
- Complete the backup verification steps.
Binance says it does not store this recovery password. If you forget it, Binance cannot restore the cloud backup for you.
Option 3: QR-code backup
- Choose the QR-code backup option.
- Create a recovery password and tap Continue.
- Read the safety tips, select the confirmation boxes, and tap Continue.
- Save the generated QR code somewhere secure.
- Tap Continue, scan the QR code, and enter the recovery password to verify the backup.
Binance says this backup stores the key-share with Greenfield, which its support documentation describes as a decentralized cloud service. Treat the QR code and password as sensitive wallet-recovery material. Anyone who obtains the necessary recovery information may be able to help reconstruct wallet control.
Check whether the backup worked
- From Home or Assets, tap Settings in the upper-left corner.
- Open Wallet Management.
- Look for the Backed Up tag.
To create another backup, open Wallet Management, tap the edit icon in the upper-left corner, choose Backup Management, select a method, and tap Back Up Again.
Restore Binance Wallet on a new phone
After reinstalling the Binance app or moving to another device, use:
- Asset → Wallet
- Tap Restore Wallet.
- Select the backup method you used previously.
The requirements depend on the method:
| Backup | What restoration requires | Common failure |
|---|---|---|
| iCloud or Google Drive | Cloud permission, the recovery password, and Continue | Forgotten recovery password or blocked cloud access |
| QR code | The saved QR code and recovery password | Lost QR code or forgotten password |
| Quick Backup | MFA and a liveness check | KYC details do not match the person completing the check |
Binance cannot recover a forgotten cloud or QR-code recovery password. Also, clearing the device’s app cache can result in the loss of a locally stored key-share. Do not assume customer support can reset the wallet in the same way it might reset an exchange password.
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Backup and recovery features are optional and may be changed or discontinued by Binance. Keep the Binance account itself secure, maintain access to your approved authentication methods, and test that your chosen recovery method is available before transferring substantial funds.
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How to receive cryptocurrency
Receive from an external wallet
- Open the wallet homepage or Assets.
- Tap Receive.
- Choose a receiving method.
- Select the token and the network.
- Copy the displayed address or show the QR code to the sender.
The sender must use the same network shown in Binance Wallet. For example, selecting one network in the receiving screen and sending over another can make the funds difficult or impossible to recover.
Check the address and network independently before approving the transfer. For a large first transfer, sending a small test amount is sensible.
Withdraw from your Binance exchange account
- From the Wallet homepage or Assets, tap Receive.
- Choose Withdraw from Binance Exchange.
- Select the token and network, then tap Continue.
- Enter the amount.
- Select Spot or Funding Wallet.
- Tap Withdraw, review the details, and tap Confirm.
If withdrawal whitelisting is enabled on your Binance account, you may first need to add the wallet address using Go to Add.
How to send cryptocurrency
- Open Assets and tap Send. You can also select a token first and then tap Send.
- Select the token and the network.
- Enter or paste the recipient’s address.
- Tap Confirm.
- Enter the amount and tap Continue.
- Review the recipient, network, amount and gas fee.
- Tap Confirm to submit the transaction.
Use the blockchain’s correct native gas token. Holding USDT, an NFT, or another token is not necessarily enough to send it. For instance, a transaction may require the network’s native token to pay gas even when the asset being transferred is a different token.
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Binance Wallet may flag a destination as high-risk for scams and offer Cancel or Confirm. Treat the warning seriously. Blockchain transfers are generally irreversible, and confirming a payment to a fraudulent address can result in unrecoverable loss.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Use Binance Wallet on a desktop
Binance Wallet Web
Open https://web3.binance.com. Binance’s Academy documentation also lists More → Binance Wallet and Trade → DEX as access paths in the Binance interface.
For supported web trading functions, Binance Wallet Web uses Secure Auto Sign (SAS) in a Trusted Execution Environment (TEE). Authorization is completed through the Binance mobile app. SAS authorization lasts seven days by default and renews when you make a qualifying SAS transaction. If there is no qualifying activity for seven days, you must authorize it again.
Binance Wallet Chrome extension
- Open the official Google Chrome Web Store.
- Search for Binance Wallet.
- Check that the listing is the official Binance Wallet extension before installing it.
- Install the extension and follow its pairing instructions.
- When pairing with the mobile wallet, compare the displayed Pairing Code before authorizing the key-share transfer.
The extension transfers a key-share from the mobile device to the desktop device. Extension transactions use that desktop share together with Binance’s share. Never approve a pairing request merely because it appears in a pop-up; verify the pairing code and the website you are connecting to.
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Some signing requests are not displayed in a fully user-friendly way. In particular, an unfamiliar Sign Typed Data request may not make its consequences obvious. NFT-order signing and some NFT-protocol transaction parsing have also had limitations in the audited implementation. If you cannot understand what a site is asking you to sign, reject the request rather than relying on a warning bypass.
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Important safety checks
- Use the current product name and official Binance domains or the official Chrome Web Store listing. Fake wallet extensions and phishing pages are common attack methods.
- Do not share recovery passwords, QR backups, device authentication codes or pairing information.
- Confirm both the complete destination address and the network before sending.
- Keep enough native gas token for the selected blockchain.
- Do not clear app data or cache casually while relying on a locally stored key-share.
- Test recovery before depositing an amount you cannot afford to lose.
- Remember that an imported wallet is different from the default keyless wallet. Binance does not provide backup or recovery services for private keys or mnemonic phrases imported into Binance Wallet.
Binance Wallet versus the Binance exchange wallet
| Feature | Binance exchange wallet | Binance Wallet |
|---|---|---|
| Custody | Custodial exchange balance | Self-custody MPC wallet |
| Blockchain transfers | Exchange withdrawal and deposit system | Wallet addresses and on-chain transactions |
| Recovery | Exchange account recovery procedures | Configured wallet backup and recovery methods |
| Gas | Handled through exchange withdrawal fees and policies | Wallet generally needs the network’s native gas token |
FAQ
Is Binance Chain Wallet still the official name?
No. “Binance Chain Wallet” and “Binance Web3 Wallet” are outdated names. The current product name is Binance Wallet.
Does Binance Wallet use a 12-word seed phrase?
The default keyless wallet uses MPC key-shares and recovery methods rather than displaying a conventional 12- or 24-word seed phrase. Imported wallets may still use their original private key or mnemonic, and Binance does not provide recovery for those imported credentials.
Can Binance recover a forgotten Binance Wallet recovery password?
No. Binance states that it does not store the recovery password. Losing it can prevent restoration of an iCloud, Google Drive or QR-code backup.
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You may not have enough of the network’s native gas token. A token transfer usually requires the blockchain’s native asset to pay the transaction fee.
Can I use Binance Wallet without a Binance account?
A regular Binance account is required, and the account must remain active and unrestricted to access Binance Wallet Services.
What happens if I send crypto over the wrong network?
The funds may not arrive correctly and may be difficult or impossible to recover. Always select the recipient’s exact network and ensure the sender uses that same network.
The Bottom Line
Set up Binance Wallet in the Binance app through Wallet → Create Wallet, then configure and verify at least one backup method before funding it. For every transfer, check the address, network and gas balance. On desktop, use Binance Wallet Web or the official Chrome extension, and verify pairing codes and signing requests instead of approving them automatically.
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