What Is Trust Wallet and Its TWT Token?
Trust Wallet is a mobile, non-custodial cryptocurrency wallet that provides access to over 20,000 tokens and 63 blockchains. It offers built-in features such as staking, exchange, and purchasing, and an in-built DApp browser that enables users to interact with DApps without leaving the application. Its governance token, TWT, allows users to participate in decision-making processes.
Basics
In light of the rising adoption of cryptocurrencies and decentralized applications (DApps), it has become essential to have a hassle-free mode of accessing them. It can quickly become tedious to have multiple solutions for diverse activities such as investing, payments, or DApps. In such a scenario, Trust Wallet comes as a comprehensive, user-friendly option. With over thirty million downloads, Trust Wallet is among the most favored cryptocurrency wallets.
About Trust Wallet
Having garnered an extensive user base, Trust Wallet was launched by Viktor Radchenko in November 2017. In 2018, Binance acquired Trust Wallet, and Eowyn Chen, the former Binance Marketing VP, assumed the role of CEO in early 2021.
Trust Wallet functions as an open-source and decentralized crypto wallet that offers access to over 20,000 Ethereum-based and EVM-Compatible tokens, 63 blockchains, and over one million crypto assets, such as BTC, ETH, BNB, and USDT.
How Does Trust Wallet Work?
With over thirty million downloads, Trust Wallet is among the most favored cryptocurrency wallets. The mobile wallet supports various coins and provides access to multiple chains through a single application. Unlike browser-based wallets, the app facilitates instant blockchain access without requiring blockchain-specific details to make transactions or engage with DApps. Trust Wallet enables users to control their seed phrase, rendering the app non-custodial. Additionally, the app allows the storage of Ethereum and BNB Smart Chain Non-Fungible Tokens (NFTs), and users can view associated artwork. Trust Wallet also offers an in-built DApp browser, a valuable feature for its users.
In-Built DApp Browser
Trust Wallet's app has a built-in browser that lets you use DApps on your phone. You don't need to switch to a different app or sign up for anything. The browser also has a DApp Marketplace that only includes safe and high-quality DApps. These DApps are easy to use on your phone because they are optimized for mobile devices. Trust Wallet's browser was one of the first mobile wallets to offer this feature. You can use popular DApps like OpenSea, PancakeSwap, 1inch, and Uniswap without leaving the Trust Wallet app.
Trust Wallet Use Cases
Users of Trust Wallet can enjoy multiple built-in features, such as staking, exchange, and purchasing. Let's explore them in more detail.
Staking
Staking a variety of cryptocurrencies such as BNB and ATOM is one of the features that Trust Wallet users can enjoy, with the potential for an annual percentage rate (APR) of up to 85%. The actual returns on staking will depend on the validators and staking opportunities that are available at any given time, with more options expected to be added in the future.
Exchange
Within the Trust Wallet app, users can access native cross-chain swapping services powered by Binance DEX and 1inch. This feature enables seamless trading between networks, such as swapping BEP-2 tokens for BEP-20 (BNB Beacon Chain to BSC and vice versa), with zero fees charged by Trust Wallet. Users can also create buy and sell orders through Binance DEX. For ERC-20 tokens, swapping options are available using the 1inch protocol. In addition, users can utilize AMM services like UniSwap directly from the Trust Wallet DApp browser.
Purchasing
Six on-ramp providers are integrated into Trust Wallet to enable users to buy over 40 cryptocurrencies using fiat within the app. The supported payment options include credit or debit cards, Apple Pay, Google Pay, and bank transfer.
What Is TWT?
TWT is a governance token for Trust Wallet. It allows users to participate in decision-making by voting and proposing in-app updates and features. The token has a maximum supply of 1 billion and is available as a BEP-20 token on BNB Smart Chain and a BEP-2 token on BNB Beacon Chain. Holders can receive discounts on DEX services and cryptocurrency purchases.
Conclusion
Trust Wallet offers a comprehensive and user-friendly option for accessing cryptocurrencies and DApps. With its multiple built-in features, including staking, exchange, and purchasing, users can have a hassle-free experience. Furthermore, the TWT governance token empowers its holders to participate in significant governance votes. Overall, Trust Wallet is an excellent choice for those looking for a non-custodial mobile wallet that provides access to a vast range of digital assets and DApps