It doesn’t have to be difficult to use and store cryptocurrencies. Trust Wallet joined the Binance ecosystem in 2018, bringing us one step closer to our objective of financial freedom.
The platform is a bitcoin wallet for mobile devices. Ethereum and other Ethereum-based coins are its core emphasis. It is built in such a way that its native code is open source and closed source at the same time.
The wallet is open source (Swift) for Android and closed source (Java) for iOS. Trust was built with the goal of making it easier to send, receive, and keep Ethereum tokens on the Ethereum blockchain.
The wallet’s usability is enhanced by its clean and simple UI.
What is a Trust Wallet?
Trust Wallet is an open-source, decentralized mobile crypto wallet that supports over 160K+ assets and blockchains and allows traders to earn interest by staking their crypto coins. The wallet was designed to handle only ERC20 and ERC223 tokens at first, however it has since been updated to support other popular cryptocurrencies such as Bitcoin.
The wallet includes a Web3 browser that allows users to purchase cryptocurrencies using the Kyber Network’s native DEX (decentralized exchange). It also allows users to utilize the Trust Wallet app to access other DApps (decentralized applications) established on the Ethereum platform.
Why Trust Wallet
Here are the reasons you should use Trust wallet to store your funds.
- Free to use
- Easily use your crypto
- Private and secure
- Buy crypto with your card
>. Free to use
It is entirely free to use. There is no payment to download the software, and there are no hidden fees inside. You’ll have to pay network transaction fees and other fees, as with any blockchain product, but the Trust Wallet team does everything they can to keep fees as low as possible for you, and they never take them apart.
It’s a pain to have so many different wallets. It’s more convenient to have everything in one location. Trust Wallet supports over 40 blockchains, which means hundreds of thousands of cryptocurrencies and tokens are supported.
>. Easy to use
Sending and receiving cryptocurrency has never been simpler. Thanks to partners like ENS, FIO, and Unstoppable Domains, you can send crypto to conventional blockchain addresses, QR codes, or basic address names directly from your phone.
Trust Wallet is a decentralized wallet, which means you have complete control over your private keys and, as a result, total control over your crypto. If you own your own private keys, you can access your funds without using the platform. More importantly, only you have access to your crypto. Trust Wallet is unable to move your cryptocurrency. In fact, Trust Wallet has no way of knowing how much cryptocurrency you have on hand.
>. Private and secure
Trust Wallet has been meticulously built to safeguard your funds. Furthermore, no personal information about you is ever gathered or retained, so you can rest assured that your identity is safe.
>. Buy crypto with your card
Multiple card payment processors have been integrated into Trust Wallet, allowing you to buy your favourite cryptocurrencies without ever leaving the app. Increase your Bitcoin holdings, get a hold of a little more Ethereum, stock up on BNB, and more. Simply select the currency you wish to purchase, enter your card information, and your wallet will be topped up in seconds.
How Does Trust Wallet works?
The Trust Wallet mobile app functions as follows:-
- It serves as a link between individual blockchain networks and their nodes. Every blockchain network has its own set of public addresses, which are commonly referred to as the public key. These addresses are where crypto assets are stored and encrypted.
- The platform does not store any cryptocurrency on its servers; instead, it provides customers with access to its wallet.
- It’s a completely free app that doesn’t make any money when people use it. The validators or miners receive all of the gas fees (transaction processing fees) that have accrued.
- Users can use Trust Wallet to keep track of their public addresses for transferring and receiving cryptocurrency. Other crypto transactions, like as trading and staking, are also possible using the app.
Trust Wallet Features
Users of Trust Wallet can take advantage of the following key features:
>.Free to Download & Use
The Trust Wallet is a free-to-use program that requires no payment to download. The only fees incurred are those paid to miners for processing transactions on the network.
It is a user-friendly program designed with beginners in mind. Starting with the initial download, users can send their crypto using basic addresses, and they can even buy crypto with a credit card. This is a great option for folks who are just starting started with cryptocurrency.
>. Supports Multi Crypto Assets
The platform supports over 40 distinct blockchains, which means it can support a wide range of cryptocurrencies and tokens. Providing a single interface for users to purchase, sell, and trade numerous coins.
>. Swap & Exchange Crypto
Users can simply transfer one cryptocurrency for another using the Exchange functionalities. This can be done with a simple swap or by using BinanceDEX’s more complicated trading capabilities.
>. DApp Browser
If you have an Android device, you can utilize the built-in DApp browser to safely interact with DApps from within your wallet. Without ever leaving your Trust App, connect to decentralized applications like PancakeSwap or UniSwap.
>. Private & Secure
You have complete control over your private keys when you store your crypto in the app. Because the wallet is decentralized, only you have access to your cryptocurrency. Furthermore, no personal information is gathered or retained, and your identity is protected.
>. Trade or swap crypto
Have you ever wished that you could trade cryptocurrency without ever having to leave your wallet? You can now do so. Swap and exchange are two services provided that make this possible.
Swap is a simple interface that allows you to rapidly swap one cryptocurrency for another, whereas exchange is more complicated and gives you more control over your trading.
>. Earn Interest
By staking the tokens inside the program, users can earn interest in a variety of cryptocurrencies. Receiving fluctuating interest rates with prominent cryptos like BNB, Tezos, Tron, Cosmos, or Algorand is one example.
Trust Wallet Fees
Users of Trust Wallet are not charged any fees when they install or set up their accounts on the wallet. There are no fees associated with using the wallet’s services. As a result, the platform may be downloaded for free from the Google Play Store or the Apple Store.
The only fees levied on the app are gas fees, which are fees for executing transactions (network fees) on the app that are paid to miners or PoS (Proof-of-Stake) chains that charge them.
Trust Wallet Cryptocurrencies
All major crypto currencies, including Ethereum ERC20 tokens, are currently supported by the Trust Wallet. The crypto app supports over 160K assets and 40 distinct blockchains in total.
The current list of supported cryptocurrencies may be found below, which was current at the time of authoring this post.
How to make payments with a Trust Wallet?
Here are the steps to make payment with Trust wallet:
- When users log onto their Trust Wallet app and click the “Send” button, a field appears where they must paste the recipient’s wallet address. Users can scan the QR code instead of pasting the wallet address.
- Enter the amount that you want to send and click on the “Next” button.
- Review transaction details along with the gas price.
- Click on “Send.”
Trust wallet provides access to a number of cryptocurrencies coins as well as the ability to stake and earn interest on your holdings. It allows you to buy cryptocurrency with your credit card, simplifying the process of investing in cryptocurrency. If you’re looking for a secure cryptocurrency wallet that can protect you from a variety of cyber risks, Trust Wallet is a good option.