If you’re into cryptocurrency trading, you need to have a good crypto wallet to store your funds. Trust Wallet is a popular cryptocurrency wallet that has many features that traders will love. In this post, we will review Trust Wallet and discuss its pros and cons, supported coins, and other features every cryptocurrency trader and investor would need.
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What Is Trust Wallet?
Trust Wallet is an open source and decentralized mobile crypto wallet. It supports over 1Million+ assets and 53 blockchains and allows traders to stake their crypto coins to earn interest. The built-in Web3 browser lets you buy cryptocurrencies through the native DEX (decentralized exchange) operating on Kyber Network, and enables its users to access DApps (decentralized applications) built on different cryptocurrency blockchains.
The app is available on both Android and iOS platforms and supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and many more.
What Wallet Type Is Trust Wallet?
Trust wallet is a type of cryptocurrency wallet that allows users to store their tokens and digital assets securely. Trust wallet is known for its security features, which include multiple layers of security and encrypted storage. It is a non-custodial wallet, which means it doesn’t keep or save any of its users’ information on its servers.
Trust wallet also allow users to retain control of their private keys, which gives them greater flexibility when it comes to transferring and using their coins and tokens. In addition, trust wallets often provide a user-friendly interface that makes it easy to manage your digital assets.
How to Use Trust Wallet
Once you have downloaded and installed trust wallet on your device, you can begin using it immediately. The first step is to create a new wallet.
Next, you will be prompted to generate a recovery phrase. This is a set of 12 words that can be used to restore your wallet if you ever lose your device. Be sure to write down the recovery phrase and keep it in a safe place.
Once you have created a new wallet, you will need to add some funds to it. Trust Wallet supports a wide range of cryptocurrencies, so you can choose the coin you want to deposit. You can also use the QR code scanner to add funds to your wallet.
When your funds are added, you can start using them to send and receive payments. Trust Wallet also allows users to store their private keys on their device, not on trust wallet server, providing an extra layer of security.
You can also use trust wallet to send and receive payments. Just enter the recipient’s address, the amount you want to send, and click “send”.
Click Here Download Trust Wallet From PlayStore
Trust Wallet Supported Coins
Trust wallet is the most used free and mobile cryptocurrency wallet for storing, buying, selling, and staking cryptocurrency. The following is a list of all the coins that Trust Wallet supports, along with their short symbols.
- BTC Bitcoin (BTC)
- ETH Ethereum (ETH)
- BNB Binance Coin (BNB)
- LTC Litecoin (LTC)
- XRP Ripple (XRP)
- DOGE Dogecoin (DOGE)
- SOL Solana (SOL)
- MATIC Polygon (MATIC)
- RUNE Thorchain (RUNE)
- DOT Polkadot (DOT)
- ZEC Zcash (ZEC)
- BNB Smartchain (BNB)
- DASH Dash (DASH)
- TRX TRON (TRX)
- XTZ Tezos (XTZ)
- ATOM Cosmos (ATOM)
- XLM Stellar (XLM)
- BCH Bitcoin Cash (BCH)
- ETC Ethereum Classic (ETC)
- FIL Filecoin (FIL)
- FIO Fio (FIO)
- eGLD Elrond (eGLD)
- NANO Nano (NANO)
- ZEL Zelcash (ZEL)
- GO GoChain (GO)
- POA POA Network (POA)
- VET VeChain (VET)
- WAN Wanchain (WAN)
- CLO Callisto (CLO)
- KAVA Kava (KAVA)
- ICX ICON (ICX)
- TOMO TomoChain (TOMO)
- FIRO Firo (FIRO)
- KIN Kin (KIN)
- NIM Nimiq (NIM)
- TT Thunder Token (TT)
- AION Aion (AION)
- THETA Theta (THETA)
- ONT Ontology (ONT)
- GRS Groestlcoin (GRS)
- QTUM Qtum (QTUM)
- VIA Viacoin (VIA)
- IOTX IoTeX (IOTX)
- RVN Ravencoin (RVN)
- ZIL Zilliqa (ZIL)
- WAVES Waves (WAVES)
- AE Aeternity (AE)
- NAS Nebulas (NAS)
- DCR Decred (DCR)
- ALGO Algorand (ALGO)
- NEAR Near (NEAR)
- DGB Digibyte (DGB)
- ONE Harmony (ONE)
- and over 1million+ supported coins
Staking
In the simplest terms, staking is a process that allows cryptocurrency holders to earn rewards by verifying and committing transactions on the network. This is a process that occurs every time a new block is created and committed to the blockchain.
Rewards, which can be thought of as interest on holdings, are given to those who hold cryptocurrencies in a staking-enabled wallet. The size of the rewards earned will depend on the cryptocurrency in question, with some offering far higher rewards than others.
It’s important to note that not all cryptocurrencies offer a staking reward. Bitcoin, for example, does not currently offer a staking reward. The rewards earned from staking are generally used to help secure the network and offset inflation.
Trust Wallet Lets You Stake The Following Coins
- Binance Coin (BNB)
- TRON (TRX)
- Tezos (XTZ)
- Cosmos (ATOM) Terra (LUNA)
- VeChain (VET)
- Callisto (CLO)
- Kava (KAVA)
- TomoChain (TOMO)
- IoTeX (IOTX)
- Algorand (ALGO)
Stablecoins
Stablecoins are a type of cryptocurrency that is designed to maintain a stable value. This makes them ideal for use as a hedge against the high volatility of other cryptocurrencies. They offer many advantages over traditional fiat currencies, including faster transactions and lower fees. For this reason, they are quickly becoming a better alternative for everyday payments.
List of Supported Stablecoins By Trust Wallet
- Binance USD Binance USD (BUSD)
- Dai Dai (DAI)
- Tether Tether (USDT)
- StableUSD StableUSD (USDS)
- USD Coin USD Coin (USDC)
- Gemini Gemini (GUSD)
- Paxos Paxos (PAX)
- TRUE USD TRUE USD (TUSD)
- GBP Stable Coin GBP Stable Coin (BGBP)
- Stasis Stasis (EURS)
Trust Wallet DApp Browser
Trust Wallet’s DApp browser provides a way for users to interact with decentralized applications without having to leave the wallet or move their funds. This enables customers to directly access any dApps they want, without having to worry about security or funds.
5 Reasons You Need Trust DApp browser
1. Easily access to any DApp
With Trust Wallet’s DApp browser, users can easily access any DApp they want. This makes it easy for them to explore and use different dApps without having to worry about the safety of their wallet.
2. Improved security
By keeping users within the Trust Wallet environment, security is improved. This is because all dApps are played inside the Trust Wallet, with users only entering their private key once. This makes it much harder for phishing or hacking to occur on a user’s device.
3. Faster transactions
DApp browsers load DApps directly from the blockchain network, making transactions faster and not dependent on internal servers.
4. Better user experiences
With DApp browsers, users can access the dApps they want without having to manually input addresses or connect to external servers. This makes for a smoother and more intuitive experience.
5. Optimized user interface
DApp Browsers provide users with an optimized user interface that is tailored towards specific dApps, helping them find what they are looking for more quickly and easily.
The Trust Wallet DApp browser is a valuable tool for users who want to interact with decentralized applications. It provides an easy way to access any DApp, while also maintaining high security and fast transaction speeds. With its optimized user interface, users will find it easier than ever to locate and use the dApps they want.
Non-Fungible Token Support
Non-fungible tokens are unique digital assets that cannot be exchanged or merged with other tokens. They are often used to represent unique items, such as collectible items or works of art.
Trust Wallet is a mobile cryptocurrency wallet that supports Ethereum’s ERC-721 and ERC-1155 NFTs, as well as Binance Smart Chain’s BEP-721 and BEP-1155 NFTs. This means that users can store, send, and receive NFTs using the Trust Wallet app.
Trust Wallet Fees
Trust Wallet is a great way to store your cryptocurrencies without having to worry about any fees. Just download and enjoy its great features. For transactions, you’ll only pay the gas fee, which goes to either the miners or PoS chains that charge them. This makes Trust Wallet a very affordable option for anyone looking to securely store their digital assets.
Trust Wallet Customer Support
The Help Centre is a helpful place to go if you have any questions about how to use the app. There are FAQs that cover a lot of topics in detail, and there’s also a troubleshooting guide that can help you fix typical problems with the app.
If you have a problem with your trading that requires urgent attention, simply contact the team support team by submitting a support ticket. They will help resolve any issues you have as soon as possible, making your experience as hassle-free as possible.
15 Features of the Trust Wallet App
There are several reasons why you should use Trust Wallet, they include:
1. Free To Use
Trust Wallet is a completely free app. It will always be free. You only need to pay for network transaction fees.
2. User Friendly Interface
The Trust Wallet app is very user friendly. It is easy to set up, simple to use, and has a great user interface.
3. No Private Keys Stored On Server
Your private keys never leave your device and are never stored on servers anywhere. Private Keys in your Trust Wallet are encrypted and safe from hackers.
4. Secure PIN Code To Open The App
The first time you open your wallet app, a 4 digits pin is created which you’ll need to use every time you want to access your wallet. If you prefer not to use the PIN code function, one can be disabled in the settings area of the wallet.
5. Decentralized & Secure
Your private keys never leave your device. All transactions are signed on your device so no one can see the information except you, it was designed in such a way that even the trust wallet team cannot access your wallet and funds.
6. DApp browser included
The Trust Wallet app has a built-in decentralized application browser that allows users to interact with different applications in their web browser. The DApp browser also supports walletconnect which allows users to interact with decentralized applications directly from their wallet other wallets.
7. Multi-asset Support
The Trust Wallet app supports a growing list of tokens and coins. You can view the full list of supported assets here.
8. Dark Mode
The Trust Wallet app has a dark mode which is perfect for night time users or people who just generally prefer darker themes.
9. Touch ID
You can enable touch id to access your wallet and it will further protect you from any unauthorized account access. You can even set the app up to only allow sending tokens when your Trust Wallet is open, all other times it won’t allow you to do anything with your funds, increasing security drastically.
10. Open Source And Transparent
The Trust Wallet app is open source, meaning that the code that powers it is available to anyone who wants to take a look. This helps to ensure that the app is transparent and trustworthy.
11. Watch Only Mode
Trust Wallet enables you to view your balance and monitor transactions without needing your private key.
12. System Notification For Transfers
The app can be customized to send you a notification when receiving or sending cryptocurrency. This is a great feature for those who want to keep track of their transactions.
13. No KYC compliance is needed
Trust Wallet does not require any identification from you. You just have to download the app and start using it.
14. Easy Backup Of Seed Phrase
The Trust Wallet app provides an easy way to back up your wallet seed phrase. This is a 12-word sequence that allows you to restore your wallet if you lose your phone or accidentally delete the app.
15. QR Code Scanner
The Trust Wallet app includes a QR code scanner that allows you to quickly and easily scan QR codes to receive payments or pay for goods and services.
Trust Wallet Review: Pros and Cons
| Pros | Cons |
|---|---|
| Free and easy download. | No desktop support |
| No KYC compliance is needed | Not secure like hardware wallets |
| Decentralized & Secure | |
| Easy Backup Of Seed Phrase | |
| Compatible with both iOS and Android devices. | |
| Allows staking and earning returns on stake assets held. | |
| Transparent fee structure |
FAQ: Trust Wallet Review
Is trust wallet safe from hackers?
Yes, your private keys will never leave your device, so it is safe from hackers.
Does trust wallet charge fees?
No, trust wallet does not charge fees for transactions. This makes it a convenient and affordable option for users who want to store and use their cryptocurrencies.
How safe is Trust Wallet app?
The Trust Wallet app is very safe to use. It has been developed by the well-known cryptocurrency company, Binance.
Conclusion: Trust Wallet Review
The trust wallet team is made up of experienced and well-respected developers who are passionate about bitcoin and cryptography. The trust wallet app is open source and available on Android and iOS. It has been downloaded by over a million users and has received excellent ratings in the app stores.
