Best BEP-20 Wallets for 2024: A Comprehensive Guide

Blockchain boasts lots of use cases—in gaming, real estate, logistics, and healthcare—but most of its action happens in finance.

No surprise there, since it’s often seen as a kind of alternative to the regular economy. By 2024, digital assets are still the big talk.

Time comes and goes, some assets soar, and some fade, but what remains unchanged is the need for their secure storage.

With the Binance Smart Chain becoming more favored, BEP-20 token trading is on the rise. So, what wallet should you pick to securely store and trade these tokens?

Some Words About BEP-20

What is BEP-20? Basically, BEP-20 tokens by Binance Smart Chain are twinned with Ethereum’s ERC-20 tokens. They can be used for a wide variety of purposes and are popular because they have low fees and fast transaction times.

What Is a BEP-20 Wallet?

The BEP-20 Wallet is a tool for launching tokens built on the Binance Smart Chain (BSC) in accordance with the BEP-20 standard. It explains how these tokens work on BSC and allows users to transfer, accept, and hold them.

BEP-20 wallets are required more for using decentralized finance (DeFi) services, trading on Binance’s decentralized exchanges (DEXs), or taking part in Initial Coin Offerings (ICOs) on the Binance Smart Chain and less for payments.

How Does a Coinbase BEP-20 Wallet Function?

The work of the BEP-20 wallet is not much different from the work of the Ethereum wallet that holds ERC-20 tokens.

To use a BEP-20 type, users can either sign up on a crypto exchange or download a decentralized wallet app that gets along with BSC.

Each wallet forges a unique public address for accepting tokens and a private key that allows users to access and control them.

When a user wants to transmit assets, the BEP-20 wallet sends that transaction to the BSC network, which proves its validity and adds it to the blockchain if everything is in order.

Benefits of Using a BEP-20 Wallet

One of the major upsides is that you get to carry full control of your belongings. You hold on to your private keys and funds, unlike wallets headed by centralized exchanges where someone else governs every penny.

These wallets also give you a direct line to the whole Binance Smart Chain ecosystem, so you can fully check out DeFi platforms, staking services, and decentralized exchanges.

On top of that, the transaction fees on Binance Smart Chain are way more tempting than on Ethereum, so it’s a lot cheaper to send and receive tokens.

Last but not least, a lot of BEP-20 wallets are pretty adjustable, letting you manage different blockchains and token types all in one place. Plus, the trustworthy ones have superior security measures to keep your holdings nice and safe.

Top BEP-20 Wallets in 2024

According to an estimate, there are roughly 190 different apps in use around the planet that offer crypto wallet functionality, and it can be hard to separate the different apps from each other.

The number of monthly downloads is not always the best indicator, and what works for most someones does not necessarily work for you. There are many points to pay attention to.

Trust Wallet

BEP-20 Trust Wallet, owned by Binance itself, gives users complete control over their private keys and funds, meaning they are in charge of their capital, not some exchange.

One of its top highlights is the integrated dApp browser, which lets traders access decentralized applications directly from the wallet. Plus, they can stake certain cryptocurrencies to earn rewards.

MetaMask

MetaMask is mainly known as an Ethereum wallet, but it’s expanded to support Binance Smart Chain too.

Available as a browser add-on and mobile app, it lets traders manage BEP-20 tokens alongside Ethereum assets, which makes it very convenient for those who dabble in both.

Another prominent feature is the built-in token swap function, which lets you exchange cryptocurrencies right within the wallet.

Binance Chain Wallet

If you’re already using Binance, the Binance Chain Wallet is a no-brainer, as this official wallet supports both BEP-2 and BEP-20 tokens.

The user interface is truly uncomplicated, perfect for both newbies and veteran users. The wallet even has a built-in token swap function, allowing you to exchange assets without jumping through hoops.

By using the Binance Chain Wallet, you can also take advantage of special features and promotions from Binance, which makes it a pragmatic option for active traders.

Math Wallet

Math is a multi-chain option that works with over 70 blockchains, including Binance Smart Chain. It’s available on both mobile and web, giving you the flexibility to manage your BEP-20 tokens from just about anywhere.

One of its unusual features is the built-in dApp store, which gives you easy access to decentralized applications. You can dive into DeFi platforms, NFT marketplaces, and more without leaving the wallet. Math Wallet also supports token swaps.

SafePal

If you’re worried about losing everything because of leaks, SafePal might be just what you’re looking for. As a hardware wallet, it stores your private keys offline, which visibly reduces the risk of hacks.

SafePal supports over 10,000 cryptocurrencies across various blockchains, so you won’t be limited in what you can hold. On top of that, it contains an integrated dApp browser to plunge into different decentralized apps right from a wallet.

BEP-20 Wallet: Create or Buy?

It’s safe to say that getting started with a BEP-20 wallet is no trouble. First, pick the type of wallet you want: a mobile wallet is good for crypto busy bees who can’t seem to put their phones down while a browser extension gives ubiquitous access.

Once you’ve arrived at a decision, just go to the wallet provider’s official website or visit your app store to download and install it.

To get rolling, you’ll need to top up your wallet. Send a bit of BNB (Binance Coin) to your address to cover transaction fees. And that’s it!

Please also note that if none of the options above fully satisfy your requirements, you can turn to crypto white-label solutions that instantly give you all the components to launch your own storage.

Conversely, you may build a brand-new wallet from scratch with the help of an outsourcing blockchain development company.

SCAND, for example, has a team of experienced blockchain developers who will help you every step of the way in making your wallet.

We start by analyzing what might suit you best, and then develop the wallet’s main features. In the end, we offer 24/7 support and care to guarantee your wallet remains the same.