Trust Wallet is a digital asset management application and a decentralized multicurrency repository from the Binance exchange.
Initially, it specialized in Ethereum assets, but at the end of 2018, the team announced support for bitcoin. Now it is one of the world’s most popular and downloadable multi-currency wallets. It is decentralized, has open source code, and is managed by users using the TWT service token.
The wallet allows you to perform basic financial transactions: saving, exchange, and withdrawal. Many built-in features make it easier to interact with digital assets. In addition to storing funds, Trust Wallet allows you to buy cryptocurrency, participate in staking, store NFT tokens, and use a Trust Wallet browser to trade on decentralized exchanges.
If we take simplicity and security of use as criteria, then Trust wallet could be one of the best crypto wallets. This step-by-step guide will help you figure out how to use this wallet, or how to buy on Trust Wallet.
To start using the wallet, download it from Google Play or the App Store on your mobile phone or tablet.
Wait for the installation to finish and proceed to create a new wallet. Follow the on-screen instructions.
Step 1. Click on Create a new wallet if you haven't registered yet. Select “I already have a wallet” if you have registered in the Trust Wallet app before and you have a seed phrase (a secret phrase for recovery).
Step 2. Carefully read the items on the screen that are associated with the recovery secret phrase. It consists of a random sequence of 12 words in English and serves as a recovery password in case you lose access to your mobile device or wallet. Make sure that the secret phrase is safe: do not tell it to anyone, write it down and keep it in a safe place that only you know about.
Remember: if the seed phrase is lost or stolen, you will lose access to the assets. Check each item, and then click Continue.
Step 3. Write down or copy the words you see on the screen. Click on Copy if you want to transfer the seed phrase in an electronic version, for example, to cloud storage. It is safer to store it on media that do not have access to the Internet.
Step 4. After you have clicked Continue, you need to repeat the phrase in the correct order. Make sure that you have copied and recorded the seed phrase correctly. After you enter the words in the correct order, click Continue again. The wallet has been successfully created and is ready for use.
On a Computer
There is a link on the service's website to download the repository in apk file format. You can use it to install and adapt the Trust Wallet extension for computers. To do this, you need to download and install an Android environment emulator on your PC. It is worth noting that the developers did not provide such an option for using the program. For security, it is better to use the application on devices running Android or iOS.
The Main Networks and Tokens that Trust Wallet Supports
The official website announced support for 53 blockchains and more than 160 thousand assets. Popular tokens of the ERC 20, ERC721, BEP2, and other standards are available to users. The program also supports gaming assets — NFT on the Ethereum (ETH) and Binance Smart chain (BNB) blockchains. The application can also be used to place stable coins.
To add or remove a coin/token, click on the icon in the upper right corner of the interface. Then enter the name of the desired crypto asset in the search bar.
Note that there are many different tokens displayed in the asset row. Select the option in which network you are going to conduct transactions. For example, USDT can be sent on the Ethereum network (ERC-20), BNB Chain (BEP-20), as well as on the Tron network (TRC-20). Be careful when choosing a network both when sending and receiving, otherwise you may lose your assets when sending.
Using the green switch, you can add or remove an asset from the main page of the wallet. Go back to the main screen to see the changes in the Tokens section.
How to Sell on Trust Wallet
Trust Wallet offers simplified purchase and sale of digital assets. The Swap option is available on the main page.
Inside the wallet, you can exchange cryptocurrencies based on the Ethereum and Binance Chain blockchains. Transactions are carried out in Cyber Network 25 and Binance DEX services. The speed of the operation depends on the load on the network. To exchange, you need to:
- Select Swap on the main page of the service.
- Specify cryptocurrencies to exchange.
- Enter the transaction amount (the conversion will happen automatically at the current exchange rate).
- Confirm the operation.
To send an asset to another address, you need to:
- Choose a cryptocurrency in your account.
- Click Send.
Trust Wallet Fees
Trust Wallet is a completely free crypto wallet. As of June 2022, developers do not charge fees for exchanging or storing digital assets in the application. Users pay only the standard fees of cryptocurrency networks.