As more people start using and investing in crypto, having a safe crypto wallet to safeguard your assets is paramount. There are many crypto wallets in the market, but not all are made equal. The most frequently used is MetaMask, but it only supports Ethereum-based tokens. Trust Wallet supports millions of cryptocurrencies and offers features like staking and purchasing crypto. But is it truly secure? Read on to find out all about the Trust Wallet — what it is, how it works and most importantly, whether it’s safe to use.

If you have any questions, you can contact our Customer Support Service to get answers. You are also guaranteed to get the right solution to any issue you may be having by contacting our Customer Support Team.

What Is Trust Wallet?

Trust Wallet is a non-custodial multi-crypto wallet app that gives users full control over their digital assets, from cryptocurrencies to non-fungible tokens (NFTs). It’s Binance’s official crypto wallet, and currently supports 65 blockchains such as Bitcoin, Ethereum, Tron and Ripple, along with over 4.5 million crypto assets, including NFTs. Moreover, it even includes access to decentralized apps (DApps). The Trust Wallet app is free to download on Android and iOS, and can be downloaded via PlayStore or AppStore, respectively. It has a simple, straightforward and interactive user interface, which has helped the platform accrue over 10 million active users.

How Does Trust Wallet Work?

Trust Wallet operates on mobile devices, and every blockchain is immediately accessible upon downloading the app. All contact information is shared only between the transacting parties, and Trust Wallet doesn’t disclose users’ personal information to any third party. Trust Wallet does not hold users’ funds, and the users hold sole access to their private keys or seed phrases

Multi-Coin Support

Trust Wallet acts as a mediator that helps connect various blockchains through the use of its nodes. It has a robust mechanism for sending, receiving and storing multiple cryptocurrencies, and currently supports over thousands of crypto coins.

In-Built DApp Browser

Trust Wallet provides seamless access to various DApps built on the Ethereum blockchain and on Binance Smart Chain. This means that you can directly use the DApps on the Trust Wallet mobile app without having to sign in to them. The DApps are all vetted by the Trust Wallet team to ensure that only the most trusted DApps are used. DApps supported by Trust Wallet includes PancakeSwap, OpenSea, and Uniswap. The DApps are also optimized for mobile devices so that users can conveniently access them anytime, anywhere.

What Is Trust Wallet Used For?

Trust Wallet is more than just a cryptocurrency wallet for storing cryptocurrencies. Here are four ways to use it:

1. Purchase Crypto

Trust Wallet allows users to purchase crypto with fiat currencies. Using credit or debit card, you can purchase more than 40 cryptocurrencies on Trust Wallet.

The fees incurred with debit or credit cards can be costly, however, so it may be better to purchase crypto directly from centralized exchanges (CEXs) like Bybit.

2. Stake Crypto

Trust Wallet even allows you to earn interest on the cryptocurrency that you hold if you’re staking from their wallet. There are numerous staking options available in the Trust Wallet app, including BNB, XTZ and KAVA.

3. Swap and Exchange

Trust Wallet also has a built-in decentralized exchange (DEX) whereby users can perform cross-chain swapping. For example, you can swap BEP-2 tokens with BEP-20 tokens. Note that trading on the Trust Wallet DEX will incur a network fee.

4. Store and Spend Stablecoins

Stablecoins are cryptocurrencies whose value is fixed by pegging them to other assets. This allows a coin’s value to remain stable, regardless of the volatile crypto market’s fluctuations. For example, Tether (USDT) and USD Coin (USDC) are tokens backed on a 1:1 basis by U.S. dollars held in reserve.

Trust Wallet allows you to store stablecoins securely and conveniently. Using its app, you can spend your stablecoins anywhere on anything you want, and Bank-grade security standards secure them.

Does Trust Wallet Charge Fees?

Unlike most crypto wallets, Trust Wallet doesn’t charge any fees for swapping or other transactions. However, the blockchain on which the token resides will charge a transaction fee, known as a network fee, on Trust Wallet. For instance, if you choose to transact ETH or an ERC-20 token on the Ethereum blockchain, you’ll have to pay the associated gas fees.

Trust Wallet allows you to set your own network fees so that you can manage your transactions more effectively. For an urgent transaction, you can set your network fees higher so that it gets processed faster, and for less urgent ones, you can just set it at a lower fee to save cost.

Trust Wallet also doesn’t charge any additional fees for the use of DApps. If you choose to purchase cryptocurrency with Trust Wallet, you must pay fees to third-party providers, but Trust Wallet doesn’t charge additional fees on top of these charges.

Is Trust Wallet Safe?

In case you misplace or lose your device Trust Wallet provides safe storage of private keys or recovery seed phrases for backup purposes. A recovery phrase, often referred to as a seed phrase, is a string of random words produced by your crypto wallet and used to access funds across decentralized wallets.

If you have any questions, you can contact our Customer Support Service to get answers. You are also guaranteed to get the right solution to any issue you may be having by contacting our Customer Support Team.