How to Use Binance DeFi Wallet and Bridge Funds Cross Chains?
Binance DeFi Wallet is a non-custodial, decentralized Web3 wallet within the Binance App. Using the Binance DeFi Wallet, you can bridge funds across chains and interact with DApps inside the Binance App.
How to create a Binance DeFi Wallet?
1. Log in to your Binance App and drag down from the top of the screen to access [Marketplace]. Tap [PancakeSwap].
2. If this is your first time accessing PancakeSwap via the Binance App, you will see a user service agreement. Please read it carefully and tap [I understand].
3. Tap on the [Wallet] icon in the top left to access Binance DeFi Wallet.
4. Tap [Create New DeFi Wallet].
5. You’ll now have successfully created your Binance DeFi Wallet.
For security reasons, we strongly recommend you back up your recovery phrase to secure your assets. Tap [Back up your recovery phrase] to start the process.
6. Tap [Back Up Manually].
7. You will see your 12-word recovery phrase. Please write these words down on paper in the correct order and keep them in a safe place. Never share your recovery phrase with anyone. You will be asked to re-enter the phrase in the next step.
8. Tap the words in the correct order to confirm your recovery phrase. Next, tap [Complete Backup].
9. Your DeFi Wallet is now ready to use.
How to fund my Binance DeFi Wallet?
Please note that the Binance DeFi Wallet currently only supports transfers to and from the Binance Spot Wallet or Funding Wallet.
1. Tap [Fund Your Wallet].
2. Tap [BNB] to see the available funds in your Binance Spot Wallet and Funding Wallet. Select the asset to transfer and tap [Next].
3. You will be redirected to the withdrawal page. Tap [Continue].
4. The system will automatically enter the DeFi Wallet address and select the correct network for you. Enter the amount to send and choose the wallet to use. You will see the fee for this transfer and the amount you will receive. Tap [Withdraw] to confirm.
5. You will receive the funds after a suitable number of blockchain confirmations. After funding your wallet, you can use the DApps on the Binance App, such as PancakeSwap.
How to use PancakeSwap on the Binance App
How to deposit unlisted tokens to Binance DeFi Wallet?
To deposit unlisted tokens, you’ll need to determine the unlisted asset’s token standard. Once you’ve found out the token standard, you’ll then need to send it to the correct address for that standard in your wallet.
For example, an unlisted ERC-20 token must be sent to your wallet’s ERC-20 address. A BEP-2 token must be sent to your wallet’s BEP-2 address.
Let’s take the ELON/ETH LP token as an example. First, look up the token on Etherscan to determine its token standard.
We can see here that it’s an ERC-20 token. This means you can deposit the asset into your Binance DeFi Wallet using its ERC-20 address. This address would be the same for depositing other ERC-20 tokens like ETH, UNI, or USDT on Ethereum.
Please note that once you deposit the unlisted tokens (that are supported by Binance Bridge 2.0) into your DeFi Wallet, you can transfer them to your Spot Wallet. However, you cannot trade or stake the tokens as they’re not listed on Binance.
Bridge your assets to Binance DeFi Wallet and trade on BNB Chain today!