Trust Wallet Token is a utility token of the popular mobile wallet Trust Wallet. Find out what a Trust Wallet is, what features it has and what role the native TWT token performs in our article.
What Is Trust Wallet?
Trust Wallet is a mobile wallet that allows users to store, earn passive income, swap, and purchase cryptocurrencies. There is an app for iOS and Android. Trust Wallet belongs to the “hot” crypto wallets, i.e., connected to the Internet. Unlike web wallets, which are also connected to the Internet, mobile wallets store all data on users’ devices. Thus, the company does not have access to your passwords and private keys, and in the event of a cyber attack on the company’s servers, your funds will remain safe. In other words, it is a decentralized crypto wallet, using which only you are responsible for the safety of funds.
Trust Wallet is one of the most popular mobile-based wallets, with more than 25 million users. It supports more than 4.5 million assets and more than fifty blockchain ecosystems. With Trust Wallet, you can transact with thousands of cryptocurrencies, send, receive, store NFTs tokens, and interact with various DApps via the built-in browser.
The wallet was created in 2017 by Viktor Radchenko. In July 2018, Trust Wallet was bought by Binance, making it the official wallet of the ecosystem.
Trust Wallet Features
Trust Wallet allows users to accept and send payments in cryptocurrency, deposit coins into staking pools, buy coins via partner fiat providers, store NFTs, and connect to numerous DeFi platforms.
- Trust DApp Browser
The wallet supports access to the Ethereum and BSC-based DeFi apps from the built-in browser. This is a full-fledged Web3 browser that provides seamless and secure interaction with blockchain games, decentralized exchanges, lending platforms, marketplaces, and so on. All DeFi apps are thoroughly tested and optimized for mobile users. However, the DApp Browser is only available on Android devices. On iPhones, this feature has been disabled since 2021. It was removed at the request of the Apple store. Fortunately, iPhone owners can use the WalletConnect function to connect to DeFi and NFT platforms. - Swaps
For the token swap, Trust Wallet connects directly to Binance DEX and 1inch. Users can make cross-chain swaps, for example, BEP-2 to BEP-20 via Binance DEX or ERC-20 tokens supported by 1inch. In addition, users can trade cryptocurrencies on the Binance DEX. Externally, it looks like a traditional exchange with an order book, where you can create buy and sell orders. - Fiat-to-crypto
Trust Wallet cooperates with leading fiat gateway providers so that you can buy the desired cryptocurrencies with a bank card directly in the app. - Staking
Trust Wallet allows users to deposit coins into staking pools and earn up to 11% APR. When writing, the wallet supports the staking of 12 coins: BNB, ATOM, TRX, LUNA, XTZ, VET, CLO, OSMO, KAVA, TOMO, IOTX, and ALGO. Profitability directly depends on the chosen project and validator.
Trust Wallet Token
Trust Wallet Token (TWT) is a native token of Trust Wallet, which is necessary for additional user incentives. The token is available in the BEP-2 and BEP-20 networks, as well as in the Solana blockchain. Initially, the maximum TWT supply was 90 billion, but the developers decided to burn 89 billion tokens. TWT has the following use cases:
- Holders receive discounts on purchasing cryptocurrencies and DEX services.
- Holders can vote regarding updates and the integration of new options or assets.
- The token is used to incentivize developers of dApps for mobile devices.
- Users earn TWT via affiliate and bonus programs.
The token is freely traded on many crypto exchanges and can be exchanged for BNB or ETH. In addition, users can earn TWT by completing various in-app tasks: quizzes, referral programs, airdrops, and so on.
Wrap-Up
Trust Wallet is one of the most popular mobile wallets, which has a high level of security, supports millions of assets, and allows you to buy cryptocurrencies for fiat and earn passive income. The native TWT token brings many benefits to the ever-growing Trust Wallet community, and the fact that the Trust Wallet is the official Binance wallet allows us to judge the reliability and prospects of the token. In addition, TWT is a BEP-20 token that allows users to make near instant and cost-effective transactions.