Trust Wallet is a cryptocurrency wallet used to support the storage and management of coins/tokens for users, allowing them to have full control of their assets. So how to use Trust Wallet for storage? Find out with Remitano through the following detailed article!
Table of contents
- What is Trust Wallet?
- Trust Wallet Pros and Cons
- Instructions to register for a Trust wallet account
- Instructions for using the features of Trust wallet
- Some questions about Trust Wallet
1. What is Trust Wallet?
Trust Wallet is a cryptocurrency wallet used to support the storage and management of coins/tokens for users, allowing them to have full control of their assets. In addition, the platform also integrates dApp applications to help users get closer to blockchains. Currently, users can download Trust Wallet on the App Store, CH Play and Desktop PC.
Trust Wallet was founded by Six Days, LLC. Then in 2018, Binance officially acquired Trust Wallet - the acquisition made the "HOT" of Trust wallet hotter than ever.
2. Trust Wallet pros and cons
Advantages of Trust Wallet
- Allows users to use tokens stored right on the wallet to staking, trading or participating in DApps games integrated on the wallet.
- Supported and developed by the team of Binance, stored with a private key, it can ensure high security and reputation.
- Easy to use, user-friendly interface, can trade conveniently on PC and mobile phone.
- Supports over 300,000 tokens of over 50 different blockchains.
- Support many different languages, including Vietnamese.
- Users are in full control of their cryptocurrency, trading anywhere, anytime.
Defect
- Transferring cryptocurrencies from exchanges or wallets other than the Binance ecosystem takes a long time.
- No blockchain support Solana - a thriving ecosystem with many notable scaling solutions and potential projects.
3. Instructions to register for a Trust wallet account
Step 1: Visit the website https://trustwallet.com/en/ to download the Trust Wallet application.
You follow the following set of 3 steps to Complete the Wallet Registration on Trust Wallet
Step 2: Click the “Create New Wallet” button.
Step 3: Tick the box "Accept the terms of service and privacy policy". Then Generate Passcode and Confirm Passcode.
Step 4: Agree to backup and enter 12 wallet recovery phrases.
4. Instructions for using the features of Trust wallet
Login/Restore wallet/Import wallet
Step 1: Click on the words "I already have a wallet" => Enter the key code for the wallet 2 times.
Step 2: Select the type of blockchain => Name the wallet, enter the private key or the phrase to recover the wallet => Click "Enter" to finish (in this article, I choose a multi-coin wallet).
How to add coins to Trust wallet
Step 1: Click the “+” icon in the upper right corner of the screen.
Step 2: Search for the coin /token you want to choose, then turn on the tab (BTC, ETH, BNB are already available on the wallet).
Step 3: Return to the screen interface and you will see the selected coin/token.
Instructions for depositing coins into Trust wallet
Step 1: In the main interface, you choose the token you want to receive (here I choose BNB).
Step 2: Click on “Get”.
Step 3: Copy the wallet address or give the QR code to the sender.
Instructions to withdraw coins from Trust wallet
Step 1: At the main screen, select the token you want to send (for example, you choose ETH).
Step 2: Click “Send”.
Step 3: Enter the recipient's address and the number of tokens, click continue and then select send.
Connect dApp on Trust Wallet
Step 1: At the main screen, click on DApps in the lower corner of the screen
Step 2: Search for the DApps you want to connect (here I choose PancakeSwap)
Step 3: Click “Connect Wallet” to connect the wallet and then proceed with the transactions
Enable security on Trust Wallet
Step 1: Open the app and select “Settings”.
Step 2: Select the line "Security - Notification".
Step 3: Turn on the "Key" and "Transaction registration" functions.
Alternatively, you can also enter “Auto-lock” and “Lock apps with” to choose the appropriate options you want!
5. Some questions about Trust Wallet
Is Trust Wallet safe?
Trust Wallet is a decentralized electronic wallet with a high level of credibility and safety. That's because users can take full control of their digital assets when they own the private key. Moreover, this wallet product does not require you to verify your identity with important personal information, so it contributes to meeting the security feature.
Transaction fees on Trust Wallet
Trust Wallet does not charge user transaction fees. Users only have to pay a very small fee when making a withdrawal, this fee is not collected by the Trust wallet but will be paid to miners to confirm your transaction on the Blockchain network. This fee will also change depending on the time that is high or low.
What coins/tokens does Trust Wallet support?
Trust Wallet supports a lot of different coins/tokens, most of the top coins have been and are being supported. In addition, the tokens on the Ethereum Blockchain are supported by the Trust wallet. Here is a list of some coins/tokens:
How to recover Trust Wallet when the phone is lost?
In case you lose or change your phone or delete the Trust Wallet app, you can use 12 backup keywords to restore your wallet easily without losing money. To restore Trust wallet you do the following:
Step 1: First, you also download the application to your phone and open it and select "I am already have a wallet".
Step 2: You choose “Multi-Coin Wallet“. You can also import any ETH, ETC, POA Network wallets into Trust Wallet to use, for example ETH wallet on MyEtherWallet, ETH wallet on ImToken,...
Step 3: Enter 12 recovery keywords and select “Import“.
Step 4: Finally click Done.
Or you can pull up the section Login / Restore wallet / Import wallet above to follow the pictures.
Is it possible to create multiple wallets in Trust Wallet?
Currently Trust Wallet limits you to a maximum of 15 wallets.
Is it possible to use Staking on Trust Wallet?
Currently, Trust Wallet has integrated staking feature to support users to receive current interest on the platform that is supporting staking tokens such as:
- Cosmos (ATOM) 10.11%/year
- TRON (TRX) $4.32/year
- Tezos (XTZ) 7%/year.
