Guellord MbusaAs 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 overwhelming. To make your crypto life less painful, here is 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 version, TrustWallet is now available as a browser extension. This therefore makes it an ideal and complete portfolio for venturing into the DeFi.
What is Trust Wallet?
Founded in 2017, Trust Wallet is a mobile crypto wallet as well as a browser extension. Today, and in particular thanks to the fact that it was propelled by Binance, it has become the most downloaded wallet in the world.
Indeed, TrustWallet is the “official” decentralized wallet of Binance. It therefore enjoys the reputation of one of the most major crypto exchange platforms in the world. It was launched in November 2017 by Viktor Radchenko and immediately built a large user base. The CEO Changpeng Zhao acquired Trust Wallet in 2018. Eowyn Chen, former vice president of marketing at Binance, took over as CEO in early 2021.
What makes Trust Wallet successful?
TrustWallet has a wide range of features and allows users to access a large selection of digital assets and DApps. All with a simple interface and quick handling. It is a decentralized, non-custodial open source mobile crypto wallet ideal for new users and established investors.
For many crypto holders, this wallet is one of the best crypto wallets that supports over thousands of assets and also allows generate interest via specific services such as staking.
The wallet was originally designed to hold only ERC-20 tokens et ERC223, but it was subsequently developed to accommodate other standards. You can use Trust Wallet to access 20+ Ethereum-based and EVM-enabled tokens, 000 blockchains, and over 63 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 full control over their recovery phrase, making this app a non-custodial app. You can also store non-fungible tokens (NFT) Ethereum and BNB Smart Chain (formerly Binance Smart Chain) in the app and view related artwork. Another key feature for Trust Wallet users is its built-in DApp browser.
What is Trust Wallet Token (TWT)?
Trust Wallet also has its own governance token, TWT, which allows owners to participate in important votes on the future of the app. TWT holders vote and suggest features, updates, and other changes to the app.
Concerning tokenomics, the TWT token has a maximum supply of 1 TWT and exists as a BEP-000 token on the BNB Smart Chain and as a BEP-000 token on the BNB Beacon Chain. Holders can also benefit from discounts on DEX services and cryptocurrency purchases. You can purchase Trust Wallet Tokens on Binance or earn them through in-app competitions, giveaways, and airdrops supported by the Trust Wallet team.
If you decide to purchase TWT, also be sure to do your own research before investing (DYER) 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 a browser wallet Web3 built-in that allows users to purchase cryptocurrencies via the native DEX (decentralized exchange platform) and access the different 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 Faucet,ATOM, AVAX, etc., with APRs of up to 85%. Your actual returns will depend on the validators and staking opportunities available at the moment, with more being added.
It is very simple to make staking on the platform and generate interest regularlyt on your cryptocurrencies.
Crypto exchange and trading
Users can exchange tokens in the Trust Wallet app with native cross-chain swap. These services are powered by Binance DEX and 1inch and allow you to trade assets between different networks seamlessly. For example, you can exchange BEP-2 tokens against tokens BEP-20 (BNB Beacon Chain to BSC and vice versa) or ERC-20. 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 the ERC-20 tokens thanks to the 1inch protocol. Alternatively, you can use services AMM as 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 do not need to register or log in. You can easily use a variety of applications from DApps, including OpenSea, PancakeSwap, 1inch and Uniswap, transparently and securely. 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 cryptocurrencies of your choice. You can buy cryptos 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 fact that there was no browser extension... Then it was only a mobile crypto wallet, certainly, practical but not very useful.
We can nevertheless criticize, for total protection of its cryptocurrencies, the fact of not (yet) having integrated the hardware wallet Ledger. However, this is currently being worked on and will be available in a few months.
Final opinion: Is Trust Wallet a good crypto wallet?
To conclude, we can say that TrustWallet lives up to its name and has the success it deserves. Trust Wallet is a versatile product available to users of all profiles. A large part of cryptocurrency adoption relies on providing simple, turnkey solutions, which is what Trust Wallet offers. Moreover, it has also become a partner and official portfolio of the Salvador, the first country in the world to make bitcoin legal tender.
Likewise, hardware wallets and non-custodial wallets have gained some interest since the fall of the FTX platform. With hacks and multiple rule violations in the platform industry, many are wondering if it is not better to keep your cryptos with either in a crypto wallet like TrustWallet.
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Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.
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