One of the most important news for crypto enthusiasts that appeared in August 2020 was the launch of the Binance Smart Chain (BSC). Same as Ethereum, Binance Smart Chain offers a lot of benefits for its users, such as cost-efficient transactions, a high-performance network, cross-chain DeFi mechanisms, a Binance ecosystem, scalability, and more. This is the reason this emerging technology is gaining huge traction. Many start-ups and enterprises plan to launch their BEP20 binance smart chain wallet.
If you also want to develop your own Binance Smart Chain Wallet, this article will assuredly help you out.
What Is a Binance Smart Chain Wallet and How Do I Make One?
Binance Smart Chain is a blockchain service that enables the development of decentralized apps using smart contracts. It is an independent blockchain that could run even if Binance Chain goes offline. Both the blockchains hold a strong resemblance from a design standpoint.
As BSC is adaptable with Ethereum Virtual Machine (EVM), it is profitable for both users and developers. For developers, it becomes easy to develop projects on Ethereum. And for users, it is easy to integrate MetaMask on the Binance Smart Chain with a few simple settings.
Other benefits of Binance Smart Chain include the following:
1) Low transaction fees that reach as low as 1 cent
2) High performance with a network capable of producing a block every 3 seconds
3) Cross-chain DeFi mechanisms that increase DeFi interoperability
4) A network of major crypto projects already collaborating with BSC
How Does BEP20 Wallet Work?
BEP20 wallet is a platform that acts as a link between users and different blockchains. Every cryptocurrency blockchain contains its own public address where that specific cryptocurrency is being stored and encrypted.
All transaction fees are delivered to validators or miners. Moreover, BSC Wallet allows you to manage and store different cryptocurrencies at the same time easily.
You can send and receive digital assets and also perform other crypto functions like trading and staking assets.
Advantages of Binance Smart Chain Wallet
1) Support a wide range of crypto assets and tokens
2) Compact size
4) Highly Secure
How Do You Secure Your BEP20 Wallet?
It is very important to properly secure your BEP20 binance smart chain wallet and protect it from unauthorized access. There are many ways to make your wallet secure.
Make sure that the device on which you’re installing the wallet is free of any malware. Keep your device locked when not in use. You can also enable passcode protection on the app.
Make sure that you have secured your recovery phrase as it’ll help you to access your wallet in case your device is lost or stolen.
To Sum Up
The world of blockchain is rapidly evolving. It would not be an overestimation to conclude that what was once considered the most innovative feature of the technology is now considered obsolete. As a result, businesses with a mission must keep up with this changing landscape.
If you are also planning to build your own BEP20 wallet, Antier Solutions can help. We provide start-ups, SMEs, and large enterprises with BSC wallet development solutions integrated with robust features and high-security checks.
Connect with our subject matter experts to share your needs.