Trust® Wallet® A Complete Beginner’s Guide to Using Trust Wallet

How to Use Trust Wallet

You can use Trust Wallet to send and receive cryptocurrencies, and also use fiat money to buy crypto. Other features of Trust Wallet includes cryptocurrency swaps on decentralized exchanges, and earning crypto through staking.

Key Takeaways

What Is Trust Wallet?

Trust Wallet is a non-custodial software (hot) wallet application for holding crypto assets and executing transactions on the blockchain. It is a multi-asset and multichain wallet that supports over 4.5 million crypto assets and over 70 blockchain networks. Supported assets include native coins of supported networks, ERC-20 tokens and NFT token standards for the Ethereum blockchain and similar smart contract tokens for other EVM networks. Trust Wallet also supports smart contract tokens on non-EVM networks.

Trust Wallet claims to offer cryptocurrency investors a tool to easily transact cryptocurrency and communicate with multiple blockchain networks. As a non-custodial wallet, users are in custody of their own wallet’s private keys and the wallet doesn’t store users’ details.

Trust Wallet launched in November 2017 with its mobile application designed for smartphones. On July 31 2018, Trust Wallet was acquired by Binance, the largest crypto exchange by daily volume. Trust Wallet has reportedly gained over 60 million users since its launch and claims to have over 10 million active users.

To further improve user experience, it offers inbuilt financial facilities like an asset swap platform and an on-ramp crypto purchase feature that lets users buy crypto with fiat money. Other extra services on the Trust Wallet include asset staking platforms and wallet-exchange connection services. The mobile application features a Web3 browser that allows users to access and connect to decentralized applications (dApps) from the comfort of their wallet. TWT (Trust Wallet Token) is the native token of the wallet.

What Is TWT?

Trust Wallet announced the launch of the Trust Wallet token in February 2020. TWT token was minted first on the Binance Beacon Chain (BNB chain) as a BEP2 token and then launched on the BNB Smart Chain (BSC) as a BEP-20 token. The launch was followed by an airdrop of the TWT token to existing users. The TWT token doubles as the incentivization and governance token of the Trust Wallet project. Trust Wallet hopes to scale the application's adoption through promotional activities powered by the TWT token.

TWT holders also decide on improvements to the project through the Trust Wallet DAO. The DAO votes on new features to be added to the application, new networks to develop support for, and other aspects of the project as defined by the project’s governance system. TWT holders also enjoy discounts on Trust Wallet paid services like on-ramp purchases.

TWT can be traded on centralized exchanges (like Binance, MEXC, and gate exchange) and decentralized exchanges (like PancakeSwap, Uniswap, and ApeSwap). See active trading pairs for TWT.

Installing and Setting up Trust Wallet

To start using Trust Wallet, the application must be downloaded and installed on your device. Trust Wallet allows you to import your existing wallets for every supported blockchain network; however, every new wallet created on the application is multi-chain.

  1. Visit your device’s application store. Trust Wallet is available on the Google Play store for Android devices and the Apple store for iOS devices. Download and wait for the application to install.
  2. After installation, open the application.

To Import an Old Wallet

  1. If you already have an old wallet you wish to import, click I already have a wallet