First, navigate to the Binance DEX page ( Test Network ) and click on "Create Wallet" in the top right corner of the screen.
You will be prompted to create a wallet directly on the website.
To become a Binance DEX user, you are solely responsible for the custody of the asset. If you lose your private key, mnemonic phrase, or keystore file, no one or even Binance can help you recover your wallet assets.
Once you have created your wallet, it will generate the following for you. Please keep it safe.
- Keystore (encrypted and password protected). The keystore file contains your private key as well as the public key and address (the latter two are derived from your private key). This file is encrypted and password protected. If you are unable to access the relevant supported hardware devices, this will be the recommended way to access your wallet.
- Mnemonic Phrases · Generate mnemonic phrases based on a list of BIP39 character sets This phrase gives you access to your wallet, but it is not recommended to use it frequently. It is recommended that you only use mnemonic phrases as backups.
- Private Keys · Allows you to use your wallet and not to use it regularly. It is recommended that you only use the private key as a backup.
To create a keystore file, you need to assign a password that will be used to access the file. This password will also be used as the session password when logging in to Binance DEX.
After entering the password, click Download Keystore File.
In the next step, a mnemonic phrase will be generated. Make sure no one can see your screen at this time.
After clicking Next, you will see the mnemonic phrase, and after you have written the mnemonic phrase, you can view your private key by clicking on "View my private key >>".
The recommended way to use a wallet is through a keystore file or a supported hardware device.
Tips for storing mnemonic phrases and private keys:
- Do not store on electronic devices (computers, mobile phones, etc.).
- Do not print it out. The printer records their prints.
- Handwriting on paper.
- Do not put your private key or mnemonic phrase in your wallet.
- Store them in a fireproof and waterproof safe/lock box.
Congratulations. Now you have successfully created a wallet on the Binance Chain. You can now use this wallet with Binance DEX.