Home Trust Wallet: Here's everything you need to know about the most downloaded wallet

Trust Wallet: Here's everything you need to know about the most downloaded wallet

7 min read

As more people use cryptocurrencies and decentralized applications (DApps), having an easy way to access them has become essential.

Whether you're interested in investing, crypto payments, or using DApps, having solutions for each activity can quickly become tedious. To make your crypto life less of a hassle, here's an easy-to-use solution: Trust Wallet.

It is the most popular non-custodial crypto wallet with over 50 million downloads. Its simplicity, multi-functionality and enhanced security make it one of the most recommended crypto wallets.

Previously only available as a mobile app, TrustWallet is now available as a browser extension. This makes it an ideal and comprehensive wallet for venturing into DeFi.

What is Trust Wallet?

Founded in 2017, Trust Wallet is a mobile crypto wallet and browser extension. Today, largely thanks to its Binance power , it has become the most downloaded wallet in the world.

Indeed, TrustWallet is Binance's "official" decentralized wallet. It therefore benefits from the reputation of one of the world's largest crypto exchange platforms . Launched in November 2017 by Viktor Radchenko , it quickly gained a large user base. CEO Changpeng Zhao acquired TrustWallet in 2018. Eowyn Chen , former Vice President of Marketing at Binance, took over as CEO in early 2021.

What makes Trust Wallet successful?

TrustWallet offers a wide range of features and allows users to access a large selection of digital assets and DApps . All this with a simple interface and quick setup. It's a decentralized, open-source, non-custodial mobile crypto wallet ideal for both new users and experienced investors.

For many crypto holders, this wallet is one of the best crypto wallets that supports thousands of assets and also allows you to generate interest through specific services like staking.

The wallet was originally designed to hold only ERC-20 and ERC223 tokens , but it has since been expanded to support other standards. You can use Trust Wallet to access over 20,000 Ethereum-based and EVM-compatible tokens, 63 blockchains, and over one million crypto assets, including popular ones like Bitcoin (BTC), Ether (ETH), BNB, BUSD, and Tether (USDT).

Trust Wallet has adhered to its key principles of never having access to user wallets, holding private keys or requesting personal information. No need for KYC to use TrustWallet.

Trust Wallet users have complete control over their recovery phrase, making it a non-custodial application. You can also store Ethereum and BNB Smart Chain (formerly Binance Smart Chain) non-fungible tokens ( NFTs ) within the app and view their associated artwork. Another key feature for Trust Wallet users is its integrated DApp browser.

What is Trust Wallet Token (TWT)?

Trust Wallet also has its own governance token, TWT , which allows holders to participate in important votes about the app's future. TWT holders vote on and propose features, updates, and other changes to the application.

Regarding tokenomics , the TWT token has a maximum supply of 1,000,000,000 TWT and exists as the BEP-20 token on the BNB Smart Chain and as the BEP-2 token on the BNB Beacon Chain. Holders can also benefit from discounts on DEX services and cryptocurrency purchases. You can buy Trust Wallet Tokens on Binance or earn them through in-app contests, giveaways, and airdrops supported by the Trust Wallet team.

If you decide to buy TWT, also make sure to do your own research before investing ( DYOR ) and a good fundamental analysis.

How does the Trust Wallet and Trust Wallet extension work?

First of all, you should know that there are two types of TrustWallet wallets:

The mobile wallet that you can download to your smartphone.
The Trust Wallet extension which allows you to use it on your browsers (Chrome, Firefox and Brave) to be able to interact with decentralized applications from your computer in particular. So, it's a version similar to Metamask for example.

The wallet has an integrated Web3 browser wallet that allows users to buy cryptocurrencies via the native DEX ( decentralized exchange platform ) and access various DApps (decentralized applications).

What are the features of Trust Wallet?

The wallet also offers several native features available in the Trust Wallet app:

Crypto staking

Multiple staking currencies are available, including BNB , ATOM , AVAX , etc., with APRs of up to 85%. Your actual returns will depend on the validators and staking opportunities currently available, and more will be added.

It is very easy to stake on the platform and generate regular interest on your cryptocurrencies.

Crypto exchange and trading

Users can exchange tokens within the Trust Wallet app using native cross-chain swapping. These services are powered by Binance DEX and 1inch, allowing you to seamlessly trade assets between different networks. For example, you can swap BEP-2 tokens for BEP-20 tokens (BNB Beacon Chain to BSC and vice versa) or ERC-20 tokens. Trust Wallet does not charge any fees for this service. You can also create buy and sell orders through Binance DEX.

There are also exchange options for ERC-20 tokens via the 1inch protocol. Alternatively, you can use AMM services like UniSwap directly from the Trust Wallet DApp browser.

Crypto purchases

Trust Wallet allows users to purchase cryptocurrencies using fiat with six payment gateway providers. You can buy over 40 cryptocurrencies directly in the app with your credit or debit card, Apple Pay, Google Pay or bank transfer.

Built-in DApp Browser

The DApp Web3 browser is integrated into the wallet. This allows you to interact and access DApps without leaving the Trust Wallet application or needing to connect to a computer. This is certainly the biggest advantage of using TrustWallet. DApp users can interact with the application directly on the blockchain.

You don't need to register or log in. You can easily and securely use a variety of DApps, including OpenSea , PancakeSwap , 1inch , and Uniswap. For a while, Trust Wallet was one of the only mobile wallets to offer this feature.

To further improve user security, Trust Wallet's DApp Marketplace offers a selection of vetted DApps that meet rigorous quality and security standards. These Apps are also optimized for mobile performance, so users can manage their crypto and DApps directly from their phones.

How to use TrustWallet?

The first step is, of course, to get the wallet. Depending on your choice, you can choose the computer extension or the version for your smartphone.

1/ Download the Trust Wallet or the extension

Trust Wallet is a mobile application available for download for iOS, Android and Google devices. You can access the official download links on the Trust Wallet website.

Always confirm that you are using the official website when downloading a crypto wallet or crypto exchange app. Here is the address to download the extension: https://trustwallet.com/browser-extension

2/ Save your secret phrase

As this is a non-custodial wallet, you will manage your own keys. So, when you register, you will be shown a series of words (in English) in a specific order. You must note in order these words which constitute your private key. You must write them down securely and not disclose your key to anyone. It is with this key that you can access your funds.

3/ Receive your first funds

Now that you have your wallet, all you have to do is invest in the cryptocurrencies of your choice. You can buy crypto directly with your bank card or by making a bank transfer.

You can also receive them on your deposit address from an exchange for example. If you have friends who want to send you crypto, you can also use your deposit address.

What are the benefits of using TrustWallet?

No collection of private data
Wllet non-custodial (you have your own keys)
A single space to discover and use dapps
Possibility of purchasing with credit card in a single click
Thousands of crypto available
Ability to generate interest with staking options
App to store your NFTs on the Ethereum and Binance Chain network
Integrated Exchange to exchange coins

What are the disadvantages?

Honestly, there are few flaws… In the past, the biggest flaw was the lack of a browser extension… It was then only a mobile crypto wallet , certainly convenient but not very useful.

One drawback, however, is the lack of (yet) integration with the Ledger hardware wallet , which could be considered a limitation for complete cryptocurrency protection. This feature is currently under development and will be available in a few months.

Final opinion: Is Trust Wallet a good crypto wallet?

In conclusion, TrustWallet lives up to its name and has achieved the success it deserves. TrustWallet is a versatile product available to users of all profiles. Much of the adoption of cryptocurrencies relies on the provision of simple, turnkey solutions, which is exactly what TrustWallet offers. Furthermore, it has also become an official partner wallet of El Salvador , the first country in the world to legalize Bitcoin.

Similarly, hardware wallets and non-custodial wallets have gained traction since the collapse of the FTX platform. With hacks and numerous rule violations in the platform industry, many are wondering if it wouldn't be better to keep their cryptocurrencies with them in a crypto wallet like TrustWallet.

Discover TrustWallet

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Note: No financial advice is given in this article or any other article on ZoneBitcoin . This information is entirely your own judgment. Be responsible for your investments and only invest an amount you are prepared to lose.

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