TrustWallet is a secure and easy-to-use crypto wallet that supports multiple cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, NEO, etc. Learn more about its features, pricing, security, pros and cons, etc.
Just like you need a wallet to protect real-world currencies, you need a wallet to store and manage your cryptocurrencies. To operate your crypto wallet, you only need these two pieces of information, public key, and private key. A public key is like your bank account number that you can share with others, and the private key is your bank account password or the PIN of your debit card that you need to protect from others. The public key here is the wallet address. This article discusses a popular cryptocurrency wallet. A multifunctional Ethereum wallet called the TrustWallet includes its features, pricing, how it works, a step-by-step guide to using the wallet, pros, cons, etc.
What is a TrustWallet?
TrustWallet is a multifunctional Ethereum wallet where you can control and exchange your cryptocurrencies. The digital blockchain asset wallet provides secure access to decentralized applications (dApps) and the new standard of cryptocurrency wallets. With TrustWallet, you can buy, sell and trade your cryptocurrency just like you would on any other exchange or platform. The TrustWallet is an open-source, multi-coin wallet that supports more than 52 blockchains and 1million crypto assets, including BTC, ETH, LTC, SOL, DOT, DASH, XRP, MATIC, and more. Originally designed to hold only the assets within the Ethereum ecosystem, now it supports Bitcoin and Binance Smart Chain.
TrustWallet – Key Features
Some of the key features of Trust Wallet are –
- Intuitive User Interface: One of the highlights of TrustWallet is it’s simple and easy-to-use interface. Users can understand the functionality of how-to videos even if they do not scroll through the user manual pages. It is straightforward and ideal for beginners.
- Free Download: Unlike other crypto wallets, TrustWallet is completely free to download. It supports iOS and Android platforms. It doesn’t charge any kind of subscription fees or other charges to use its wallet.
- Supports Various Cryptocurrencies: TrustWallet supports around 1 million crypto assets and 53 blockchains. With this hot wallet, you can easily buy, sell or swap your cryptocurrencies and other digital assets.
- In-Built Charts: If you are into professional trading, then you don’t need to check other third-party apps for charts and technical analysis. TrustWallet comes packed with its in-built charts to track your favorite crypto assets easily.
- Available In 11 Languages: TrustWallet is available in eleven languages, including English, Chinese, Japanese, Korean, Russian, Dutch, etc.
- Earn Interest: With TrustWallet, you can stake your cryptocurrencies and earn interest for them. By Staking coins, you earn money and have the power to vote on certain aspects of the platform.
Staking is something similar to putting your money in a bank and earning interest for it. There is also a staking calculator available to calculate your estimated earnings from the current APR as well. TrustWallet offers interest rates up to a maximum of 11% APR (Annual Percentage Rate).
TrustWallet – Security
Even though TrustWallet is not the best when compared to hardware wallets, the team ensures that their client’s funds are kept safe and secure. Stateful, a popular security firm is entrusted with the task of conducting regular audits and keeping the platform safe. The App also provides options to pin code scanning or fingerprint scanning as an additional layer of security. The TrustWallet also doesn’t ask for KYC confirmation, and hence no user data is stored on their servers.
TrustWallet – Pricing
TrustWallet is considered as one of the most popular crypto wallets in the market because of its unique zero-fee model that allows crypto investors to easily enjoy all the benefits of the blockchain ecosystem. There is no wallet fee or swapping, or DApp fee. The fee that is charged is the blockchain transaction fee.
Pros And Cons
Following are the pros and cons of the TrustWallet –
|Easy to use.||No desktop support.|
|Zero fee model.||Not secure as hardware wallets.|
|Earn interest through staking.||No cashing out feature.|
|Supports a wide range of crypto assets.|
|The wallet supports both iOS and Android.|
|Buy crypto with credit cards.|
TrustWallet – Support
In case of any issues, you can always email to TrustWallet support with all your queries. This wallet also comes packed with a well-informed help center that provides users with all the basics of crypto trading, staking, migration, or any other troubleshooting issues. It also has an active community forum containing discussion areas, how-to guides, FAQs to help you provide all the details and services offered in TrustWallet to learn the nuance of the multi-coin wallet.
How To Use the Wallet – A Step-By-Step Guide
Getting started with TrustWallet is pretty much easy as all you need to do is:
- Download the TrustWallet App from the official website.
- You can either create a new wallet or import an existing one.
- If you wish and choose to create a new wallet, you need to set up the 12-word recovery phrase.
- You need to keep the recovery phrase safe as it will be required if you lost your private key.
- Once you create a new wallet, you can buy some crypto and start trading.
You can find that TrustWallet is one of the best crypto wallets available in the market that comes with a zero-fee model. With this crypto wallet, you can not only easily buy, sell or swap cryptocurrencies, but you can also earn a passive income by staking your crypto coins. It also allows you to store stablecoins and manage all your NFTs in one place. It comes with a simple interface, making it ideal for beginners to easily explore the features of a crypto wallet and understand the basics of crypto trading.