A Beginner Guide to Using Trust Wallet
If you are a beginner just dipping your feet into the waters of crypto and you are seeking a trustworthy platform for handling your crypto assets, Trust Wallet is an ideal option. Trust Wallet is a top recommended beginner-friendly mobile wallet in the market for storing and controlling cryptocurrency assets, and this complete beginner’s guide will cover all you need to know about the Trust Wallet app, right from its download, to its security features, as well as how to manage your assets effectively.
1. Downloading and Installation of Trust Wallet
Trust Wallet has compatible versions for the various operating systems available be it Windows Os, Android, and iOS. It is however ubiquitous with mobile devices running Android and iOS operating systems.
- For Android Devices: Go to the Google Play Store, type “Trust Wallet”, then click on Install.
- For iOS Devices: Launch your iOS device, open the App Store, type in “Trust Wallet” in the search bar, and tap on the “Get” icon.
After downloading the app follow the setup instructions to create a new wallet.
To Create a New Wallet:
Click on the icon, “Create a New Wallet”. You will be required to come up with a 12-word recovery phrase. The recovery phrase which is sometimes called a Seed Phrase is a sequence of words to be used to restore access to your wallet if you ever lose it, so we recommend you document it somewhere secure.
Import an Existing Wallet:
If you wish to import a previous wallet, choose “I already have a wallet,” type in your recovery phrase, and continue with the steps.
2. Getting Familiar With Trust Wallet’s Main Features
Trust Wallet is one of the few crypto wallet that supports various cryptocurrencies, such as BTC, ETH, BNB, and other ERC20 and BEP2 tokens. Additionally, It is very easy to navigate through its interface to check your balance, transaction history, and more.
Describing the most significant features, it is crucial to point out that the Trust Wallet has a web3 browser integrated into it, so you can interact with decentralized applications (dApps) right from the app.
Trust Wallet Token (TWT)
TWT is Trust Wallet’s native utility token. It is versatile and can be staked for more returns, taking part in its stream of activities, and many others. TWT can be obtained through promotional activities, joining the Trust Wallet community, or staking. These amazing features and more led to Trust Wallet reaching the 122 Million downloads milestone by May 2024.
3. Securing Your Assets
Due to the fact that it has a futuristic outlook, Trust Wallet was designed to help you manage and secure your crypto assets. Hence, it was enriched with robust security features.
Private Key Encryption: For maximum security, developers of Trust Wallet make sure your private keys are stored locally on your device. They’re not stored on some centralized server that anyone can hack into.
Backup and Recovery: As discussed earlier, your 12-word recovery phrase is important every time you want to restore your wallet. Ensure that you store it in a safe place.
Biometric Authentication: To add more layers of security choose the option of fingerprint or facial recognition to secure your wallet.
Regular Updates: You should make sure that your app is updated to be able to use newer more secure versions of the app.
4. Managing Your Digital Assets On Trust Wallet
To send any cryptocurrency:
- Launch the Trust Wallet app and choose the desired token you want to transfer.
- Press ‘Send’ and enter the wallet address of the recipient as well as the amount to be transferred.
- Check and verify the details of the transaction by inputting your personal identification number (PIN) or using a biometric recognition.
To receive cryptocurrency:
- Choose the cryptocurrency you wish to get.
- Press ‘Receive’ to check your wallet address.
- Attached to this message, forward it to the sender or use the QR code for easy transactions.
Managing NFTs:
Trust Wallet supports the transfer, reception, and management of NFT (Non Fungible Tokens).
Make sure that you have a wallet address that is compatible with NFT transactions.
To see your non-fungible tokens, go to the NFTs section in the app, where you can take stock of and transact with your digital assets.
5. Seamlessly Interact With dApps
Trust Wallet’s Web3 browser lets you connect to various decentralized applications (dApps).
To access dApps on Trust Wallet click the ‘dApps’ icon on the app to access many decentralized apps including those for decentralized finances (DeFi), NFTs, and others. These apps are integrated within Trust Wallet and thus can be accessed within Trust Wallet without having to open another application.
6. Stake Crypto and Earn Some Extra Cash
Trust Wallet allows you to stake certain cryptocurrencies directly from the app, earning rewards for participating in the network in 3 easy steps:
Select Staking: Proceed to the “Staking” tab in the app.
Choose a Coin: Choose a supported cryptocurrency and then follow the guide offered to help you stake your tokens.
Earn Rewards: Staking your coins or tokens makes you eligible for additional token rewards over time as the coin increases in value.
7. Swap Crypto Tokens on Trust Wallet
Trust Wallet integrates a built-in exchange feature that allows you to swap between different cryptocurrencies. For instance, between Ethereum (ETH) and Bitcoin (BTC). You can do this by following these steps
- Firstly, click on the “Swap” icon.
- Then, select the coin you want to exchange and the one you want in their stead.
- Afterward, enter the amount of token units you would like to exchange.
- Lastly, click the details to view and verify the particularity of the transaction. This swap will be done at the currently valid exchange rate.
