What is Trust Wallet ?
Trust Wallet is a great cryptocurrency wallet for new users and investors looking to enter the digital asset space. The mobile wallet stores over 160K+ coins and blockchains, plus has apps for staking crypto coins to earn passive income.
Trust Wallet is not only compatible with ERC20 and ERC223 tokens, but also leading cryptocurrencies such as Bitcoin. The native DEX (decentralized exchange) operating on the Kyber network allows users to buy cryptocurrencies with ease.
Trust Wallet comes with a built-in Web3 browser too, which provides direct access to Ethereum platform’s DApps (decentralized applications). All these handy features make Trust Wallet one of the best options for novices who want to securely invest in digital assets or simply enjoy DeFi services.
Key Features of Trust Wallet
Trust Wallet is the preferred wallet choice for crypto users who are looking for a secure and reliable way to store, send, receive and exchange digital assets. This non-custodial software wallet offers multiple blockchain networks, browser extensions for both desktop and mobile devices as well as an in-built exchange.
Trust Wallet also supports staking for multiple proof-of-stake cryptocurrencies and offers a range of security measures including pin code scanning, fingerprint scanning and a 12-word recovery phrase making it the most secure non-custodial wallet in the market. Not only is it secure but it’s easy to use with its simple user interface that has attracted over 5 million active users Worldwide due to partnerships with popular brands.
Trust Wallet makes digital asset management effortless giving users the freedom to manage their finances without having to go through KYC verification.
Security
Trust Wallet is a modern, non-custodial cryptocurrency and NFT wallet that allows users to retain control of their digital assets. Transferring the responsibility of asset security and ownership to them by bypassing the need for a third-party custodian. This puts the responsibility of asset safekeeping into the user’s hands, making them responsible for securing their digital identity in the form of their recovery phrase.
Users can add an extra layer of protection with Touch ID or Face ID and set an auto-lock time for increased safety. However, it is important to note that Trust Wallet is a hot wallet, which means it is connected to the internet and therefore vulnerable to phishing scams. In order to protect funds from permanent loss, users must proactively secure their recovery phrase and be vigilant against malicious activities online.
Desktop & App usability
Trust Wallet is an extremely convenient digital asset wallet, offering both desktop and mobile versions. The former is available as a browser extension which allows users to store, send and receive digital assets, plus access dApps directly through their desktop browser with a user-friendly interface – plus network auto-detect to make navigating dApps easier.
As far as the mobile version goes, both iOS and Android users are catered for but only Android has the added bonus of be able to access dApps within the app – something that is regrettably unavailable to iOS users. Nonetheless, Trust Wallet’s intuitive design makes transacting multiple tokens across different blockchain networks simple.
How to use Trust Wallet?
Creating an account on Trust Wallet is a straightforward process that can be completed easily and quickly.
- Download the app from the Apple Store or Google Play Store, whichever smartphone you have
- Once installed, simply open the app, provide your email address, set up a secure password and accept the terms of service
After selecting the appropriate option, the users are taken to a set of instructions which they need to follow in order to activate their wallet. This includes taking a backup of the seed phrase, confirming their wallet and setting a passcode for additional security.
Once all these steps are completed, the users are good to go and can start sending, receiving and storing crypto assets on their Trust Wallet. The flexibility of this app allows the users to access multiple coins across different blockchain networks with just one wallet address.
What is a Recovery Phrase ?
The most important part of the process is to securely store the 12-word seed or recovery phrase assigned upon wallet creation; if this sequence of words is lost, no access to your wallet will be possible. To emphasize this security measure and show understanding of the rules, users must check a box saying that they understand the implications of losing their recovery words. Taking these preventative steps while setting up your new Trust Wallet ensures that you can use your wallet securely and confidently.
Conclusion
Trust wallet is an award-winning software that is not only renowned for its reliable performance and user-friendly interface, but also its support of multiple blockchain networks and digital assets. Users can use it to store their crypto, interact with decentralized applications, participate in NFT marketplaces, and even stake their crypto currencies to earn additional rewards.
More importantly, the Trust wallet is non-custodial which gives users the comfort of preserving their anonymity and privacy while they are transacting or trading cryptocurrencies. But it is important to be aware of the fees associated with in-app purchases because different third-party exchanges charge varying rates.
With top-notch security and a wide array of features that make it simple for novice and experienced cryptocurrency users alike, Trust Wallet is worth considering as part of any crypto investment package.
Trust Wallet is a powerful yet easy-to-use multi-platform software wallet that provides users with secure storage, sending, and receiving of cryptocurrency coins and Non Fungible Tokens (NFTs). This non-custodial wallet supports multiple blockchains and is available on iOS, Android, and as an extension for both Chrome and Firefox browsers. Software wallets may not be as safe as hardware wallets, but they do provide users an extra layer of security compared to centralized exchanges. For anyone looking for an uncomplicated way to store their digital assets, this Trust Wallet review may help them decide if this wallet could adequately meet their needs.
