Trust Wallet Review

Trust Wallet Review & Beginners Guide

This Trust Wallet review aims to provide you with all the information you could possibly need to make an informed decision. Things like Trust wallet features, fees, and exchange rates are included in this review for your reference.

What is a trust wallet?

The Trust Wallet is a cryptocurrency mobile wallet that allows users to store, send, and receive digital assets like Ethereum and Bitcoin. The app has a simple user interface and allows for the storage of multiple cryptocurrencies.

It also provides a built-in exchange that allows users to convert between different digital currencies. Overall, Trust Wallet is a good option for those looking for a mobile wallet that can store multiple cryptocurrencies.

The app offers a wide range of features, including the ability to store and trade cryptocurrencies in decentralized application platforms, store digital assets, buy NFT’s, stake and earn. Learn more about Decentralized Applications or Defi here.

Trust wallet is also compatible with a variety of blockchain including Bitcoin, Ethereum, Litecoin, Binance and more. It is an excellent choice for those who are looking for a safe and secure way to store their digital assets.

Why use trust wallet?

Why use trust wallet

One of the main benefits of Trust Wallet is its built-in security features. This application utilizes state-of-the-art security protocols, including 2-factor authentication and fingerprint scanning, to protect your account from unauthorized access.

Additionally, your wallet is encrypted with a unique key that only you possess, which further enhances security.

More so, Trust Wallet is available on both Android and iOS devices, making it convenient to use no matter where you are.

Overall, Trust Wallet is a secure and user-friendly mobile wallet that allows you to easily store and use your cryptocurrencies.

Trust wallet security

In this digital era, no one is spared from being a victim of cybercrime. No matter how much effort you put in protecting your devices from threats from outside, the number of cybercrime that affect people’s individual lives on a daily basis is on the rise.

Notwithstanding, trust wallet as an app is secure, however, the security of these types of wallets is more guaranteed when users consciously guard their funds against threats by keeping their passphrase secure and avoid connecting their wallets to phishing websites.

Trust wallet review: Features & Use case

The trust wallet is a mobile app that supports the blockchain technology. It allows you to store, send, and receive Bitcoin, Ethereum, and other cryptocurrencies. It also features a built-in exchange that allows you to buy and sell cryptocurrencies.

Features & Use case

-Security: Your coins are securely stored and held in your wallet until you are ready to use them.

-Easy to use: The Trust Wallet is easy to use, and you can make payments with just a few taps on your phone.

-Quick transactions: Transactions are processed quickly, so you can easily move your funds around.

-Conveniently store multiple currencies: With trust wallet you can store multiple currencies and can equally create multiple wallet with a single account.

Overall, Trust Wallet is an excellent option for users who want to store their cryptocurrencies and make payments with their mobile phone —It is easy to use and offers quick transactions, making it an ideal choice for day-to-day transactions.

DApp Browser

Trust wallet DApp Browser

Trust wallet comes with a DApp browser, which helps users to browse and connect to decentralized applications built on top of the Binance ecosystem, Ethereum ecosystem, and a host of several other applications built on supported blockchain.

Crypto staking

Trust wallet staking function allows users to earn rewards for staking their tokens. The staking process works as follows: when a user creates a new wallet, they are prompted to choose a staking strategy.

The available strategies include locking up your tokens for a fixed amount of time (1, 3, or 7 days), or continuously staking your coins/tokens. The longer your tokens are held in the wallet or exchange, the more rewards you will earn.

In a more broad sense, you can stake your crypto coins in a decentralized exchange like Pankaswap, or Uniswap for rewards.

Also, the reward you receive for staking your tokens depends on the exchange and the strategy you choose, and the number of tokens you lock up.

Earn Interest

Earn Interest function is available on Trust Wallet. All you need to do is select the desired interval and amount of interest and then hit the “Earn Interest” button.

Buy Crypto with Card

With trust wallet you can easily buy cryptocurrency with your credit card without delay.

Swap & Exchange Crypto

Swap & Exchange Crypto

For those new to the crypto world, it can be a nightmare trying to find a wallet that is easy to use and accessible.

This is where the idea of trust wallet, an all-in-one solution for storing, sending, and receiving cryptocurrencies comes in.

It allows you to swap over a variety of cryptocurrencies like Bitcoin, Ethereum, Litecoin, BNB and many more for another coin or token.

Supports Multi Crypto Assets.

The trust wallet supports a wide variety of cryptocurrencies, so you can be sure that you will be able to store the assets that you are interested in.

Wallet Import Option.

Trust wallet allows you to migrate your coins from a different wallet, the process is pretty simple and straight forward.

In order to do this, you need to first login to your old wallet and export it, then come back to the trust wallet start up page and click on the import wallet option instead of creating a new wallet, once done the right way your funds will be migrated to your trust wallet.

Trust Wallet NFTs.

One of the most interesting features of Trust Wallet is its NFTs feature. NFTs are a new type of digital asset that is built on the Ethereum blockchain and the likes, they allow for more secure and transparent transactions and have the potential to be used in a variety of applications, including gaming, and asset management.— Learn more about NFT here.

List of Trust wallet supported cryptocurrencies

Trust Wallet is a secure digital wallet that supports and allows you to store and use cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash, Aave, Dogecoin and etc.

Trust wallet supported blockchain

Trust wallet supports the following blockchain: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Stellar (XLM), EOS (EOS), Binance Smart Chain (BNB) TRON (TRX) and many more.

Trust wallet fees.

Trust wallet fees are a small percentage that is taken from each transaction that is conducted on the Trust wallet. This percentage is used to cover the costs associated with running the Trust wallet, such as development costs, security measures, and hosting costs.

Consequently, trust Wallet charges 0.2% for every transaction, with a maximum fee of $10. This fee is charged by Trust Wallet to compensate for the cost of processing the transaction.

Trust wallet Pros and cons

Many people are looking for a safe and secure way to store their cryptocurrencies, and trust wallet may be the perfect option for them. The trust wallet app allows users to store their cryptocurrencies in a secure and encrypted wallet that can be accessed on any device.

Additionally, Trust wallet app offers a variety of features that make it convenient and user-friendly. Some of the most popular features include the ability to buy and sell cryptocurrencies, send and receive funds, and get real-time updates on prices.

However, there are also some cons to consider. One potential downside is that trust wallet is not available in all countries; also, the Dapp function is not available for ios users.

Above all, trust wallet app might be the perfect solution for those who are looking for a safe and secure way to store their cryptocurrencies.

How to create an account with trust wallet

If you’re looking to get started with the new trust wallet, then you’ll want to follow these simple steps:

Download and install the trust wallet app from the Google Play Store or Apple App Store. or simply click this link to download.

  1. Click on create a new wallet and enter a password for your wallet.
  2. Accept wallet policy and click continue.
  3. Backup your secret Phrase: write it down or copy and save it in a secure place because you will be required to confirm it before proceeding further.
  4. Enter your Secret phrase in the order it came — Tap each word one by one until the twelve words are fully entenerd. Now your wallet has been successfully created.

How to add funds to your trust wallet

Method One – Funding with credit card

  1. Click on ‘buy button then choose one of the supported currencies of your choice (Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS etc).
  2. Enter the amount you want to add and click on ‘next’.
  3. Lastly you will be taken to a third-party website where you will be required to enter your card detail, just follow the prompt and your wallet will be credited with the token or coin in split seconds.

Method Two – Funding from another wallet or exchange

If you have your coins or token in a different wallet or exchange you can easily transfer the same to the trust wallet by following these steps.

  1. Open your trust wallet app.
  2. Tap on the two-dot at the top right corner to search for the asset you want to fund, turn the botton on so it will appear in your wallet.
  3. Go back to the wallet option and click on the coin or token.
  4. Click on receive then copy.
  5. Go to the wallet where you have your fund and paste the address you copied, then send. your coin should be in your wallet in less than 15 minutes, this will depend on the network.

Don’t send an erc20 token to bep20 or bep2 address, you will loss the fund so make sure that the receiving address matches the transferring newtwork.

How do I put money in my trust wallet?

To start using the trust wallet, you need to create an account and then deposit funds into your account. You can then start trading by buying and selling digital assets.

You can also use the trust wallet to make payments and transfers. The trust wallet also offers a variety of other features, such as security features, a user-friendly interface, and fast transactions. It is also possible to use the trust wallet to store other types of data, such as photos, files, and documents.

Overall, the trust wallet is a great platform that offers a variety of benefits and features. It is easy to use, secure, and fast.

Can you make money on trust wallet?

can you earn money with trust wallet

Yes, you can make money on trust wallet. The trust wallet is a mobile app that allows users to store, spend, and send cryptocurrencies. In order to start making money, you first need to create an account and deposit some cryptocurrency.

Once you have deposited some cryptocurrency, you can start earning interest on your holdings. The interest rate depends on the cryptocurrency you are using, but it is usually around 10%. Additionally, you can also earn rewards for referring friends to the trust wallet.

How to make money with trust wallet

Decentralized exchanges like position exchange [Posi], and PancakeSwap allow you to cast nft, stake your coin and earn massive reward for your token, on top of that you also earn reward in the form of reflexion:

In other to get started, you should follow these steps:

You will have to fund your wallet with the Binance Smart chain because you will need to swap some BNB in order to stake or farm Posi.

Open this link in your browser, the exchange interface will pop up, tap the url to copy.

Copy url

Open your trust wallet app then click on Dapp then paste the link you copied earlier and hit enter

Go to DAPP

Next change the network from Ethereum to Binance Smart chain

Next change the network f

Now click on Connect, then select trust wallet and connect.

Connect via trust wallet

Welcome! You have successfully connected your wallet to the exchange the next thing you should do now is to first swap some BnB to Posi, to do this you need to follow this step.

In the exchange interface:

  1. Click on the menu and navigate to exchange.
  2. Enter the amount of BnB you want to swap to Posi— Note you need some BnB to cover the transaction fees.
  3. Click on swap then approve.
  4. Next, go back to the menu again and click Farm, then choose POSI-BNB
  5. Next click on approve, another window will pop up where you will have to authorize the contract call.
  6. Next, disconnect your wallet from the exchange for security reason. You can always connect back whenever you want to access you token.

That is it, you have successfully staked your posi, you can unstake it anytime but allow it to earn more rewards for you before you unstake.

Is trust wallet safe from hackers?

Yes, trust wallet is safe from hackers as it stores only your secret keys, not your entire wallet. As long as you keep your secret keys safe and never share them with anyone, you will be safe from any hacker attacks.

Additionally, your secret keys are never stored on the server and are only used to sign transactions.

How to Safe guide your trust wallet funds

When you create a trust wallet, you are essentially creating a secure place for your funds. The trust wallet app is protected by a two-factor authentication process that includes a password and a unique fingerprint scan and passphrase. Furthermore, the trust wallet is backed up every day and has a failsafe mechanism that allows you to restore your funds in the event of a loss or theft.

  1. To increase the security of your trust wallet, you can set up a 2-step verification process. This requires you to enter your password and then scan an image of your face, which will require you to take a few extra steps when logging in.
  2. Additionally, you can set a withdrawal limit that will prevent you from withdrawing more than a certain amount at a time.
  3. Overall, trust wallets are a great way to safeguard your money and keep it away from prying eyes. And lastly, never share your secret phrase with anyone and do not connect your wallet to websites or exchanges you don’t trust.

Frequently Asked Questions

Does trust wallet have a recovery phrase?

Yes, Trust Wallet does have a recovery phrase. This is a confidential code that you can use if your device gets lost or stolen. This code will allow you to regain access to your account and any funds that have been stored within it.

Note it’s confidential, meaning you don’t have to show or give it to a third party; whosoever has access to it controls your fund.

What happens if I uninstall trust wallet?

If you uninstall Trust Wallet without safely keeping your passphrase, you will lose your entire funds, for this reason, it is important to make a backup of your wallet data before doing so.

If for any reason you experience problems with your Trust Wallet, or if you just want to move on and start using another wallet, you can easily export your wallet data and restore it on another device.

To export your wallet data, open Trust Wallet and click on the three lines in the top-right corner. This will open the wallet data export window. To restore your wallet, simply select the required files and click on the “Restore” button.

What if you lose your phone with trust wallet?

If you lose your phone with trust wallet, you can access your fund whenever you get a new device so long your passphrase is with you. All you just need is to download a new trust wallet and log into your account with your wallet passphrase.

Bottom line

If you’re looking for a mobile wallet that is reliable, secure, and easy to use, then trust wallet is definitely worth your attention!

Not only does it offer an intuitive and easy-to-use design, but it also has many integrative features that will allow you to manage your digital assets in a hassle-free way.

So, if you’re ready to get started, just click here to download the app and create your first wallet!

Useful resource:

Apple.com – Crypto & Bitcoin Wallet 

Ogedi

Ogedi is the Co-founder of CryptoBasics. He writes on a number of topics related to Blockchain technology but focuses mostly on Cryptocurrency, NFTs, and Decentralized Finance.

This Post Has 2 Comments

  1. scegMXJROjUhrI

    I am so happy to have found this content..

    1. Ogedi

      We are glad you found our article useful.

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