Approved: Best Places To Store BNB Coins

The Binance(BSC) ecosystem has grown immensely since the launch of the exchange back in 2017. Moreover, this global cryptocurrency exchange as it is nowadays transacts more than $96 billion in 24 hours and has become the biggest exchange in the world. Besides trading cryptocurrencies on Binance, there is BSC, a decentralized blockchain network with BNB coin as the platform token.

In particular, this BNB coin can be used by traders to get a 25% discount on fees, but also the token can be used as collateral on Pancakeswap; the DeFi platform on the BSC smart chain. In the past years, the demand for the BNB coin has grown at a steady pace resulting in 3rd place on the Coinmarketcap website with a total market value of $101 million at the time of writing.

If you are an investor who owns some BNB coins already, it might be good to know what the best places to store BNB coins are. Additionally, this guide will show you the most reliable options for storing and sending BNB coins using a cryptocurrency wallet.

How does a Cryptocurrency wallet work?

A cryptocurrency wallet is a software program or hardware device that stores users’ private keys. This is the safest way to keep your virtual currencies safe at all times. If you purchased BNB at an exchange, you would also like to know where to store BNB coins.

Therefore, to transfer BNB you need a wallet that supports the BEP2 standard. In other words, the token can only be transferred by a wallet that supports the BSC chain(BEP2).

In general, many software wallets can be used for this, however, it is good to know that hardware wallets can be used also.

Hardware wallets are usually safer than software wallets. However, in terms of comfort, software wallets are more user-friendly than their hardware counterparts.

Best BNB Wallets: Overview

To make it easier for you, I have created a short list of the best places to store BNB coins:

• Ledger Nano – The most secure cryptocurrency hardware wallet to store your crypto offline
• Trust Wallet – Software wallet that stores the private key on your phone and allows you to hold and stake 20+ coins
• Atomic Wallet – Software wallet that also stores the private key on your device and stores 300 coins and tokens
• Exodus Wallet – Software wallet that stores 30 coins and holds your private key on the device
• Binance Chain Extension – Light weight web wallet that can be added as an extension in Chrome or Firefox

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The most Popular Exchanges to store and hold BNB Coins

Binance and Kucoin are the safest exchanges to store BNB tokens. Let’s start with Binance and why this platform became one of the most popular in the market.

Binance is among the largest crypto exchanges in the world. As explained earlier, the platform was released back in 2017 when the bull market in cryptocurrencies was reaching its top. Since that moment, Binance didn’t stop growing.

The exchange has launched dozens of new projects and solutions for users to get access to virtual currencies. Also, the BNB platform token functions as the fuel of the trading platform; where customers can get a discount, they can easily swap BNB for other cryptocurrencies, and can earn passive income by just holding BNB coins.

Unfortunately, US customers are officially not allowed unless you are willing to use a VPN to hide your IP location when signing up.

Kucoin or Binance exchange

As a result, Kucoin can be used to bypass strict regulations if you are from the US. So what is Kucoin all about?

Kucoin, instead, is a cryptocurrency exchange that expanded thanks to its light KYC requirements. Users could register to the platform only with an email account and a password. Although the platform has implemented some KYC procedures, it is also a great platform to exchange some of the most popular tokens in the market.

Nowadays, both Binance and Kucoin are strong competitors, but both of them are the best exchanges to hold your BNB coins. Both of these platforms take security very important. Although exchanges are not the safest place to store digital assets, selecting secure exchanges reduces the chances of being exposed to hacks or attacks.

Kucoin and Binance have increased their security features in order to avoid problems with users. In this way, users can easily use these platforms not only to buy and sell digital assets but also to engage with the entire crypto ecosystem.

Where to store BNB coins offline?

A hardware wallet is needed to store your BNB tokens offline. This is one of the most important things to do if you are a long-term holder. Why? Simply because you are less exposed to attacks and hacks.

When we use hot wallets such as software wallets, hackers could get access to our wallets or funds through viruses or attacks. Our private keys are stored on our devices and they could be accessed by malicious parties. This is why it is definitely important to hold and store your coins offline.

Therefore, the best place to store BNB offline is a hardware wallet. In addition, Ledger is the best solution currently available for users that want to protect their funds at all times. While some users would prefer to use software wallets due to comfort, hardware wallets are the best solution for long-term holders.

Best places to Store BNB coins

Luckily, there are different options available in storing Binance BNB coins. The next sections will focus on the different places to store BNB, how to use them, and more.

Ledger Nano

As mentioned earlier, Ledger is one of the most popular hardware wallets in the market. This is the preferred wallet for investors that hold their coins offline. Thus, BNB holders would certainly find Ledger one of the best places to store BNB coins.

There are different Ledger models. The most purchased Ledger wallets are the Ledger Nano S and the Ledger Nano X. Both of them are very useful and portable but the Ledger Nano X works with Bluetooth, has a better screen and it supports a larger number of apps.

In particular, one of the main benefits of using a Ledger device is that the wallet uses a built-in exchange feature. Additionally, you can purchase new BNB coins and send these to your Ledger wallet instantly. This feature uses a third party(Coinify) so buying comes at a cost: 4.5% credit card fees or 1.7% for bank transfers.

How to send BNB to Ledger Nano

If you just bought a Ledger wallet, you might be wondering how to send BNB to Ledger. The answer is very simple and the process shouldn’t be complicated. Follow these simple steps:

• Download and install Ledger Live on your computer or smartphone
• Connect your hardware wallet (Ledger) with Ledger Live
• If this was your first time setting up your Ledger device, you should properly store your private keys (seed phrase)
• Download to your Ledger Live and Ledger Device the Binance Chain application
• Create a BNB Account on Ledger Live
• Copy the BNB wallet address from Ledger Live
• Control and verify on your Ledger device that the BNB wallet address is the same
• Send BNB funds to this wallet

*Remember you can only send BNB tokens to this address. Sending other virtual currencies could result in the loss of your digital currencies.

Trust Wallet

Trust Wallet is one of the most popular crypto wallets for users in the crypto space. Moreover, this wallet is built and owned by Binance and it is, therefore, no surprise that you can store your BNB coins here as well.

Another option the Trust Wallet has is that you can browse on different DApps that are running on the Binance Smart Chain. A good example is Pancakeswap, a simple way to exchange your BNB for other tokens instantly.

In particular, Trust Wallet is a multi-currency wallet designed to store coins over different blockchain networks on a mobile device. In this way, users that love holding and buying different virtual currencies can hold them all in just one place.

How to send BNB to Trust Wallet

If you want to send BNB to Trust Wallet, the following short steps are needed:

• Download and install Trust Wallet for free
• Create your crypto wallet
• Store your private keys in a safe place
• Add a BNB cryptocurrency wallet
• Search for the wallet address and send funds to it
• (alternative to the previous step) Use the QR code offered by Trust Wallet, scan it, and send BNB to it

How To Receive BNB on Smart Chain with Trust Wallet

If you want to store the BNB you own on the Binance Smart Chain, follow these steps:

• On Trust Wallet, choose Smart Chain(BNB)
• Now click receive
• Use QR-code or public key to send BNB

*Remember you can only send BNB Smart Chain tokens to this address. Sending other virtual currencies(including BNB) could result in the loss of your digital currencies.

How To Convert BNB to Smart Chain with Trust Wallet

• On Trust Wallet, make sure you have some BNB coins
• Click on your BNB wallet
• Navigate to DEX below in the menu
• Give the amount of BNB you want to exchange(25% – 100%)
• Click ‘Exchange’ button

Atomic Wallet

Another favorite place to store BNB coins is Atomic Wallet. Additionally, Atomic wallet does not only offer support to hundreds of digital assets, but it also enables users to get access to many other crypto-related services like staking or crypto trading.

As most of the software wallets in the market, Atomic wallet can be downloaded for free. Moreover, users can directly buy and sell digital currencies through their platform. In this way, users who do not have virtual currencies can access them in just a few simple steps.

Besides, another very useful feature of Atomic Wallet is related to the number of operating systems that it works with. Users can download the wallet on a Windows computer, but also on Linux and Macbooks. Finally, both Android and iOS users would be able to enjoy the multiple benefits of this wallet.

How To Send BNB To Atomic Wallet

• Make sure you are in your BNB wallet
• Now click the ‘Receive’ button
• Click on ‘Copy’ to get the BNB address copied to your clipboard
• Alternatively, scan QR code when using your mobile phone
• Go to the wallet or platform you are sending from
• Copy the full address in the recipient field
• Now just wait for the transaction to come in
• On Atomic, you can see the progress under the ‘History’ tab

Exodus Wallet

This wallet has been there for a while and has a proven track record of being very secure. Therefore, the Exodus Wallet allows you to store your crypto offline(with Trezor) and when needed, connect with their software wallet app.

Another interesting feature of Exodus is the number of cryptocurrencies(130) that can be stored in the app and offline.

Besides holding or storing BNB coins it’s also possible to buy and sell with a built-in exchange feature that uses the Changelly platform.

How to send BNB coins to Exodus Wallet

• Click the wallet icon on Exodus
• Find the BNB wallet(icon) and click it
• Click on the ‘Receive’ button below
• Paste your BNB public address in the field
• (Or) Use QR-code to send BNB to this wallet

*Remember you can only send BNB tokens to this address. Sending other virtual currencies could result in the loss of your digital currencies.

Binance Chain Extension

Finally, there is also an web-extension available as option to store BNB coins. What is Binance Chain Extension exactly?

Particularly, it’s a crypto wallet for Binance Chain, Binance Smart Chain and Ethereum.

Just add this extension to your Firefox or Chrome browser. Additionally, you can send and receive funds on Binance Chain, Binance Smart Chain, and Ethereum, and cross-chain transfers between both of Binance’s blockchains.

The extension can also integrate with other Binance Chain products for authentication and transaction signing without providing access to your private keys, which are stored securely within the extension’s storage space and encrypted with your password.

How To Receive BNB with Binance Chain Extension

• First make sure you are on the Binance Chain Network(above)
• Click on ‘Receive’ button
• Copy and Paste the public address from the screen
• (Or) Use the QR-code to send BNB to this wallet

Conclusion

If you recently acquired some brand new BNB or BNB Smart Chain tokens the most common way to hold them is in a cryptocurrency wallet. Additionally, if you are not planning to trade these coins on exchanges then there are numerous options available to store them.

Eventually, in this guide, I showed you the best places to store BNB whether it is offline, in a software wallet, or on your device or cell phone. Stay safe!