The Ultimate Beginner’s Guide to Trust Wallet
Trust Wallet is an excellent choice for anyone looking for a one-stop shop when it comes to crypto wallets. From browsing DApps to trading and staking, it’s easy and simple to gain access to the vast crypto world with just one app. For those looking to get started with Trust Wallet, read on to learn everything you need to know.
What Is Trust Wallet?
Trust Wallet is one of the most popular and secure crypto wallets that offers an intuitive, all-in-one experience for its users. The app enables you to securely store over 3 million crypto assets across 60+ blockchains.
Launched in 2017 as a mobile wallet supporting Ethereum-based ERC-20 tokens, the app filled an unaddressed market of mobile-first crypto adopters. Trust Wallet now enables users to buy, store, and exchange leading cryptocurrencies and manage their non-fungible tokens (NFTs) collection in one single app.
Trust Wallet also empowers users to earn crypto through the wallet’s in-app staking feature, which offers over half a dozen crypto assets with staking yields up to 11%.
Arguably the most exciting feature of Trust Wallet is the mobile DApp Browser. The browser provides seamless mobile access to decentralized applications (DApps), DeFi protocols, and NFT marketplaces across 60+ blockchains.
How to Set Up Trust Wallet
Accessing Trust Wallet is easy for both Android and iOS users. You can install Trust Wallet across multiple phones or tablets without any installation limits. The app is free to use and doesn’t require a subscription.
Furthermore, Trust Wallet is non-custodial. This means that you have full control of your funds and can move, deposit, and interact with them without worrying about another party having custody of them. You get given your own Secret Phrase to your wallet, which is a set of 12 words that act as the key. You and ONLY YOU should see and have access to your Secret Phrase to make sure that you are in full control of your own crypto at all times - this is decentralization at its finest!
Let’s walk you through the basic steps of how you can set up Trust Wallet today.
1. Search for Trust Wallet on the App Store or Play Store. Alternatively, head over to the Trust Wallet website for a link to the relevant store. Always confirm you’re downloading the official app to ensure the safety of your funds.
2. Open the app and tap [CREATE A NEW WALLET].
4. The next prompt will ask you to [Enter a Passcode]. This passcode adds an extra layer of security to your wallet.
5. You will then be asked to back up your wallet. The wallet uses a 12-word Secret Phrase that you need to note down safely and keep only to yourself.
Trust Wallet doesn’t have access to this phrase. In case you lose your Secret Phrase or don’t back up your wallet, the Trust Wallet team won’t be able to help you access your assets. Therefore, it’s essential you note down your Secret Phrase correctly and secure it in a safe place (write them down on a piece of paper and put them in a safe, for example).
6. After entering your 12-word Secret Phrase in the correct order, you will have set up your wallet, and it will be ready to use.
What Can You Do With Trust Wallet?
Let’s take a look at some of Trust Wallet’s most powerful features: the wallet, Discover (staking & DeFi), and the DApp Browser.
Securely store and manage all your digital assets in one place
As mentioned, Trust Wallet users can store and manage 6+ million digital currencies and assets, including NFTs, across 68+ blockchains using Trust Wallet.
Additionally, users can also store Ethereum, BNB Smart Chain, Polygon, and Solana-based NFTs. These points together make Trust Wallet one of the most comprehensive mobile wallets available for users.
With the integration of 1inch v4, users can now swap tokens on 8 different blockchains directly within the Trust Wallet app! The chains include Polygon, Arbitrum, Optimism, Avalanche, xDai, Fantom, BSC, and ETH.
Earn staking rewards
Trust Wallet enables users to earn staking yields on several leading digital assets, all within the app and with just a tap. More tokens and coins are being added regularly.
Access the DeFi market
Trust Wallet enables users to access the fast-growing DeFi market and engage with a wide variety of financial services. Decentralized Finance (DeFi) provides individuals across the globe with crypto-earning opportunities, ranging from providing liquidity in decentralized trading pools to loans and yield farming.
Trust Wallet users can seamlessly connect their wallets to all their favorite DeFi protocols, such as Aave, Compound, PancakeSwap, and Uniswap. Connecting is easily done through the DApp Browser or by using Wallet Connect. WalletConnect is an open protocol for connecting decentralized applications to mobile wallets using end-to-end encryption. The protocol makes sure that you can carry out your transactions without revealing any private information while accessing DApps on a desktop or other device.
Buy, sell, mint, and store NFTs
Non-Fungible Tokens (NFTs) are unique digital assets operating on blockchains that provide holders with proof of ownership. Trust Wallet users can buy, sell, mint, trade, send, and store NFTs directly within the mobile app. Currently, users can manage NFTs minted on Ethereum and BNB Smart Chain. More chains will follow soon. Using the DApp Browser, Trust Wallet users can also access NFT marketplaces like OpenSea, to collect NFTs or sell their own creations.
Play blockchain games
Play-to-earn blockchain games have become a popular pastime for blockchain and gaming enthusiasts alike. If you’ve never tried them and are keen to have a go, it’s easy and simple to start playing using Trust Wallet. Users can access and play many of these games, including Axie Infinity, Sorare, and Decentraland, directly within the mobile app using the DApp Browser.
What is Trust Wallet Token (TWT)?
Trust Wallet also has its own project token known as Trust Wallet Token (TWT).
“TWT was created to educate Trust Wallet users about how cryptocurrencies work and give them the chance to own their first crypto to play around with.”
Additionally, TWT holders can vote on Trust Wallet governance decisions, such as what blockchain support should be added next. This key mechanism enables the community to shape Trust Wallet’s future.
TWT is available as a BEP2 token on BNB Beacon Chain and as a BEP20 token on BNB Smart Chain. Alternatively, TWT is also available as an SPL token on Solana.
Is Trust Wallet Secure?
In a word: yes! Trust Wallet is secure. The mobile wallet uses industry-leading security measures to ensure user funds remain safe at all times. Moreover, the wallet’s code is open-source, which means that the code has been thoroughly vetted by developers across the globe.
Manage Your Crypto Finances Simply with Trust Wallet
One of crypto’s biggest barriers to entry can be its complexity. Dealing with wallets, DApps, and smart contracts for the first time can often lead to costly mistakes. With a solution like Trust Wallet, both new and old users can enjoy a much simpler way to access, manage, and interact with their crypto holdings.