If you are interested in cryptocurrency investment, you must know that security should be your number one priority. The way you buy and keep your assets is important and shouldn’t be underestimated.
Speaking of crypto security, today we are having a look at Trust wallet.
Technically, crypto wallets are pieces of software that enable users to save and receive cryptocurrencies, such as Bitcoin, ETH, Litecoin, etc.
Crypto wallets are created for storing multiple coins and tokens at the same time, but many of them support a limited amount of digital assets. These wallets can come in a different form. Some of them are in the form of a hardware that can be connected to the internet if needed, and others come in the form of an application, similar to a banking app.
For bigger security, crypto wallets store private keys that need to match with a public key, before a wallet is opened. Trust wallet is an example of such a cryptocurrency wallet.
Trust wallet users are able to control and access their digital assets. Furthermore, it supports more cryptocurrencies than most of its competitors.
What is a trust wallet?
Trust wallet is a noncustodial crypto wallet, where users are the owners of their digital currencies and have full control over them.
Trust wallet is the official cryptocurrency wallet of Binnance. It provides support for 65 blockchains and access to more than 4.5 million crypto assets.
Furthermore, Trust wallet provides access to decentralized applications, so that users are able to interact with them safely. The main goal of Trust wallet is to make digital assets more accessible for everyone, and make it easy for users to buy, send, receive, stake, trade, and store their cryptocurrencies.
Trust wallet features
Multi-crypto support - As we already said, one of the greatest advantages of Trust wallet is that it supports many different cryptocurrencies, while most of its competitors support only ERC-20 tokens.
Flexibility - Trust wallet users can buy cryptocurrencies from other platforms such as Wyre and Simplex.
NFTs - Trust wallet is also an NFT wallet.
Fees - Trust wallet can be used for free, without a subscription.
How does it work?
Trust wallet creates a bridge between blockchains and their nodes. It is an app, working only on mobile devices, when downloaded from Google Play or the App Store. The app does not keep any private information about the user to ensure privacy. The contact information is kept only between transacting parties.
What is it used for?
Trust wallet offers multiple features to its users, including:
Cryptocurrency purchase
Users can buy more than 60 cryptocurrencies with fiat money, using their credit or debit card. This can happen only through a centralized exchange to reduce the fees.
Staking
Users are also able to stake cryptocurrencies from their Trust wallet, as well as earn interest on their holdings.
Exchange
Trust wallet offers a built-in DEX that can be used for cross-chain swappings.
NFT support
As we said, Trust wallet can be used also for managing NFTs and game assets. The app fully supports Ethereum and BNB Chain NFTs.
How to use the Trust wallet application?
To use the app, you should first download it from Google Play or the App Store. After that, you have to complete a few simple steps:
Create an account;
Add funds to your account
However, you should keep in mind that the trust wallet also has its disadvantages, and one of them is the limited support. You can only contact them through email, and not through a more direct line. Furthermore, the app is a hot wallet and currently does not support hardware wallets for offline storage.
As we know, crypto investment is always a risky process, so you should be careful, do proper research, and never invest more than you are willing to lose.