cats

My charger has options of charge AND balance charging. I know balance charging keeps the cells at nice, equal voltages, but is it a thing I should only use once in a while? Does it wear out the battery a bit faster?

I bought a charger off amazon for my plane I am building (first ever) and I noticed the charger says "5-10 cell universal charger" but my battery is a 7.4 2 cell Lipo. Can I get away from this with this or will it literally blow up in my face? P.S. it's not that bad if I need to get another...