Table of Contents
- Trust Wallet: The Multi Coin Wallet
- History of Trust Wallet
- Trust Wallet: The Best Features Ever
- Trust Wallet Popularity
- Trust Wallet Review: A User's Perspective
Trust Wallet: The Multi Coin Wallet
If you are a cryptocurrency enthusiast, guru, or a passerby in the cryptocurrency world, you most likely would have heard of the Trust Wallet platform.
The Trust Wallet app is so popular on the Google Playstore and IOS store: if you scroll through random phones in your region, it is likely that some people have the app on their phones. Yes, it is that popular.
Trust Wallet is the official cryptocurrency wallet of Binance that enables users to send, receive, store and exchange Bitcoin, Binance Coin, NFTs and many other cryptocurrencies on the blockchain network.
The mobile app has been downloaded by over 10 million people for a good reason: with $50, you can buy different tokens and store them in your Trust Wallet. The app provides you with a twelve seed phrase and a mobile pin for maximum security.
History of Trust Wallet
The multiple coin cryptocurrency wallet has its origin in a company in Mountain View, California. Trust Wallet was founded in the year 2017 by Viktor Radchenko and later bought for an undisclosed amount sometime in 2018.
In a 2018 July update released on the Binance website and dated 31st July 2018, Binance disclosed that Trust Wallet had been acquired to provide better services and enhance the safety of users.
There were speculations about the sale of Trust Wallet: Binance however confirmed to Tech Crunch that the compensation was a mixture of cash, Binance stocks and BNB token. Then Trust Wallet was not as popular: marketing was a significant factor. Binance helped in that aspect and Trust Wallet moved from being just an Ethereum based crypto wallet to a multi coin wallet.
Over the years, Trust Wallet has continued to provide a variety of features. The open source, decentralized and anonymous application supports Bitcoin, Ethereum, etc as well as over 20,000 Ethereum based cryptocurrency tokens.
Trust Wallet: The Best Features Ever
As someone who uses Trust Wallet, I will be giving you a comprehensive list of the best features that Trust Wallet has to offer.
1. Swap: Trust Wallet allows users to exchange different cryptocurrency tokens swiftly at a very low fee. This feature is available on the app and also on the DApp browser with exchanges like Pancake swap.
2. Stake: The Trust Wallet app gives it's users the opportunity to earn interest on cryptocurrency by staking their tokens. The interest rates are as high as 11% for BNB and 6% for Algorand.
3. Wallet Connect: Trust Wallet provides a wallet connect feature that enables users to connect desktop DApps to mobile wallets with end to end encryption by scanning a QR Code.
4. Decentralized App (DApps) Browser: The Trust Wallet DApps browser is a Web 3 browser that can be used for interacting with any decentralized application on the Ethereum and Binance Smart Chain networks.
5. Multicoin support: Trust Wallet's most amazing feature in my opinion, is its ability to support multiple cryptocurrency tokens. The app provides users with a multicoin wallet and supports over one million assets.
Trust Wallet Popularity
According to the Google Playstore, Trustwallet has over 10 million downloads, a 4.4 out of 5 rating and up to 648, 000 reviews. Trust Wallet is a very popular app that is used by many young people interested in cryptocurrency.
Trust Wallet is very popular because it is free to use, the gas fees are low and it is associated with Binance. The user interface is also amazing for beginners and you can change your settings to see your balance for each coin in your home country's currency.
The app is also quite safe: it doesn't store user information on its servers to avoid security breaches. There are also different security options available for users like the pin code, touch or face ID and recovery phrase input to keep your wallet safe.
Generally speaking, the Trust Wallet App has good marketing, especially since it was acquired by Binance. The blog posts on the site, the social media buzz and the brand image are different reasons why the app is popular with crypto enthusiasts.
Trust Wallet Review: A User's Perspective
As someone who uses different cryptocurrency wallets, I must say that Trust Wallet is one of my favourite apps: it is so easy to use and I can swap cryptocurrency tokens anytime I like.
There are some downsides though: not all tokens can be swapped on the Trust Wallet App. In addition, some airdrop participants have reported finding their wallet empty after participating in fraudulent airdrops and getting their wallets hacked.
One thing to note is that if you like participating in crypto airdrops, keeping your coins in just one wallet may be dangerous. Trust Wallet is generally safe, but sometimes there could be hacks that leave the user bare and empty of any coin.
In my opinion, Trust Wallet is an amazing app with great features that allows users to send, swap and stake cryptocurrency tokens at very low cost. I enjoy using the app to send and swap coins, but I wouldn't advise users to stick to only Trust Wallet as a crypto wallet option.
