With the crypto prices surging high like never before, daily there are thousands of new crypto investors and traders looking for digital wallets to store their crypto. As we store our cash in the wallet, crypto wallets are digital ones where cryptocurrencies can be stored.
Any crypto wallet user looks for safety in the first place. So, here in this article, we will talk about one of the new crypto wallets – Trust Wallet which is a safe and secure option for storing your crypto assets. We will cover all the aspects of this new wallet so that you can get an insight into the same and decide whether to use it or not.
Table of contents
Overview
| Name | Trust Wallet |
| Released | November 2017 |
| Wallet type | Mobile Wallet |
| Price | Free |
| Platforms supported | Android and iOS |
| Cryptocurrencies supported | Bitcoin (BTC), Ethereum, Ripple, Bitcoin Cash, Litcoin, others |
| Mobile support | Yes |
What is Trust Wallet?
Trust Wallet is that simple yet effective digital wallet that helps you store your cryptocurrencies. It offers great features which are pretty straightforward and user-friendly. This is an open-source digital wallet that is quite easy to set up and use.
You can receive and send multiple cryptocurrencies and not just one or two as this wallet accepts a wide range of such currencies. There is an option for storing private keys as well which is included in the security feature of this application which makes the app way more secure than its peers. You can use its built-in exchange as well and other decentralized applications directly from the Trust Wallet platform.
Salient Features of Trust Wallet
- User-Interface: It is an easy-to-use application where you can buy cryptocurrencies within five minutes. You can exchange the cryptocurrencies even without leaving the application.
- Supports multiple currencies: You can invest in multiple cryptocurrencies like Bitcoin, Ethereum, and others. You can check all your crypto assets in one place. You do not have to use different wallets for storing different cryptocurrencies.
- Earn Interest: Yes, you can also earn interest on the cryptocurrencies that are in your Trust Wallet.
- Charts and analytical tools: There are multiple charts, tools, and resources for tracking the price of your favorite cryptocurrencies on this platform.
- Security: It is a safe platform for storing your cryptocurrencies. It is secured from hackers. There is also the option for encrypting private keys and the control lies with you only which makes it much safer.
- Compatibility: It is compatible with Android 6.0 and above and also with iOS 13.0 and above.
Trust Wallet Fees and Limits
There are no charges for downloading and using this wallet. You can download it from the App Store if you are an Apple/iOS user. If you are an Android user then you can download it from the Google Play Store.
However, if you are transacting cryptocurrencies, then there is a network fee that you have to pay for the outgoing transactions of cryptocurrencies.
How to Set up Trust Wallet?
To set up you just need to follow these three steps –
- Download Trust Wallet from Play Store or App Store
- Create a new wallet in the application. You will get a login id and password after you create the wallet.
- Log in and you can buy some cryptocurrencies as you are all set.
How to Add Currency to Trust Wallet?
To add cryptocurrency to this wallet you have to –
- Login to your new wallet on Trust Wallet.
- Click on the option ‘Receive’
- Copy your wallet address or scan the QR code. Use these for transferring funds into the wallet.
- Then you can confirm the transaction being completed or not by clicking on the ‘transactions’ tab and checking the history of transactions.
How to Make Payments With Trust Wallet?
For making payments from Trust Wallet you have to –
- Login to the wallet of yours.
- Click on the ‘Send’ option/button
- Scan the QR code or enter the wallet address of your recipient
- Enter the amount to be sent and click on ‘Next’
- Tap on ‘send’ after reviewing the transaction details.
Pros
- It’s free to download
- Convenient and user-friendly
- Wide range of cryptocurrencies
- Private key encryption for security
- Interest earning on cryptocurrencies in the wallet
- Available for both iOS and Android platform
Cons
- Not as much secure as the hardware crypto wallets
Conclusion
To conclude, we can say that the Trust Wallet is an easy to use crypto wallet which is loaded with multiple features. It supports most of the cryptocurrencies which makes it a viable option for those who invest in multiple cryptocurrencies. It is user-friendly and thus even the novice in this market can use this wallet.
FAQ
Yes, it is completely free to use. You can download it for free and use it without paying anything. The cost which you are required to pay is for the transaction of cryptocurrencies and not for using Trust Wallet.
You can download it from –
Apple App Store – You can download it from the App store of Apple for your iOS smartphone.
Google Play Store – Android users can easily download it from the Google Playstore.
Yes, you can buy crypto without sharing any personal details of yours as no personal details are collected by this application. You can just use your credit card and buy the cryptocurrencies.
If you want to encash your crypto then you have to send the same to an exchange. There it can be converted to Fiat currency. On Trust Wallet, you cannot directly encash your crypto or convert it into fiat currency.
It is safe and secure. You can use the private keys to have more control over your wallet and make it more secure.
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