There are many Wallets available for investors to store their BNB holdings. Before beginning to discuss the three types of Binance Chain Wallets, it is important to distinguish the two types of Binance coins.
BINANCE COINS
Originally, the genesis of the BNB coin was based on an ERC-20 standard. From the onset this meant BNB was required to be stored on an Ethereum compatible wallet. However, upon the launch of the Binance Main Net, BNB was transformed into a BEP-2 standard coin. What this means is that BNB retained the equivalency of an ERC-20 coin, but it now existed on Binance's own chain.
When the DeFi heavy Binance Smart Chain was introduced, Binance likewise created yet another coin native to the Smart Chain and incompatible with the Main Chain. The confusion does not end there however as this new token is likewise enumerated BNB. The difference between these two coins lies in their underlying standard. As noted above, BNB Main Chain is based on a BEP-2 standard (and may be used on the Main Chain but not on the Smart Chain) and the BNB Smart Chain token is based on a BEP-20 standard (and may be used on the Smart Chain but not on the Main Chain).
The workings of the standards is not relevant to the subject at hand, but when discussing Wallets for BNB the distinction must be noted. When choosing a BNB Wallet, a user should choose a Cryptocurrency Wallet that supports both the BEP-2 AND BEP-20 standards for storing their BNB coins/tokens.
THREE TYPES OF WALLETS TO STORE BNB
There are three basic types of Wallets available for storage of BNB coins/tokens: paper wallets; software wallets; and, hardware wallets. The first type may be dealt with with all due dispatch.
PAPER WALLETS: "A paper wallet contains a public and private key pair for making crypto transactions. It is generally created with a key generator program and printed on paper as two strings of characters and two QR codes. A paper wallet is a noncustodial cold storage wallet — meaning you control the keys yourself, and the wallet is not connected to the internet." [Cryptopedia. "What Is a Paper Wallet?" https://www.gemini.com/cryptopedia/paper-wallet-crypto-cold-storage. (Accessed June 24, 2021)]. With the advent of better software and hardware solutions for Cryptocurrency storage, paper wallets, once widely used, have become obsolete.
SOFTWARE WALLETS: Software Wallets permit a user to store the private wallet key online, keeping the coins and tokens you own safe and accessible. A software wallet likewise permits the user to easily send, receive and spend all types of cryptocurrencies.
A user can store assets in a Binance.com account or Binance Chain account and may use Binance Wallet Direct to easily transfer assets between the two.
Today, there exists a wide array of software Cryptocurrency Wallets for a user to choose from, most of which store coins from other chains besides BNB. Some suggestions will be provided, but it is recommended that each user investigate fully the array of crypto wallets available and choose one which the individual user is comfortable with. In this regard due diligence must be exercised in doing your own research. Some of the most popular software wallets include:
There are many other software Wallets available on the market but the above appear to be the most popular. No specific choice of Wallet is provided to the users herein and you are reminded to do your own research in choosing an online 'hot' software cryptocurrency wallet.
CONCLUSION
There exists in the market today a wide array of storage wallets available to hold the BNB assets you own. It is critical that the user fully investigate which wallet function they require as well as their individual preference for style. The choice of wallet is a very important one so doing your own research is imperative to insure the wallet is fit for your needs and is comfortable for you to use.
