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The Official Beginner's Guide To Trust Wallet

Veröffentlicht am: Mar 7, 2023
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Used by over 80 million people worldwide, Trust Wallet is an easy-to-use, multi-chain self-custody wallet that allows you to securely store and manage over 10M+ crypto assets, including 600M+ NFTs, across 100+ blockchains.

The Official Beginner's Guide To Trust Wallet

Introduction

What is Trust Wallet & what does it do?

Trust Wallet is an easy-to-use, multi-chain, self-custody wallet that allows you to safely access Web3, as well as securely store and manage over 10M+ crypto assets, including 600M+ NFTs, across 100+ blockchains.

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What we’ll cover in this guide

In this official beginner’s guide to Trust Wallet, we will look at how you can get started on the Trust Wallet app, buy, receive, send, stake, swap, and store crypto, as well as connect to Web3 dApps.

In addition, we will also take you through what the Trust Wallet Token (TWT) is, the app’s safety and security features, and last but not least, how to troubleshoot and get support.

Web3 and the importance of using a secure self-custody wallet

Web3 has emerged as one of the most prominent movements in the crypto space, and Trust Wallet allows you to access it safely. And while there is a lot of jargon associated with Web3, including blockchain, cryptocurrency, and non-fungible tokens (NFTs) - its far-reaching significance is in the power it gives users.

The world has evolved, and as humans, we spend much more time online. This has led to our lives becoming more interconnected digitally, with a lot of our identifying information sitting online.

However, with the current internet, we don't have control and ownership of our data, with a lot of data being sold to the highest bidders for marketing purposes. This is what Web3 aims to change. But what exactly is Web3?

What is Web3?

Web3 is the next iteration of the internet that will utilize blockchains, cryptocurrencies, and non-fungible tokens to give users data ownership and self-sovereignty. Web3 has four core ideas:

Simply put, Web3 is a new, improved, and more transparent internet with an added social layer, digital identity, and virtual money. Users using Web3 will also need to use a secure self-custody wallet.

What is self custody & why is it important?

Self-custody is when you, as a user, have true ownership over your digital assets or digital money.

A secure self-custody wallet gives users full responsibility for their private keys, thus safeguarding access because the keys are not stored or kept anywhere else. This is important because users will always have control over their digital money or assets.

And that’s where in Web3, non-custodial wallets such as Trust Wallet come in.

Trust Wallet’s mission is to build a seamless Web3 gateway and an open ecosystem that enables a secure and decentralized world. It offers multi-chain, self-custody, and Web3 access to its users to securely store, send, and receive more than 10 million tokens, all while connecting to a myriad of decentralized applications (dApps).

Getting Started

Downloading and installing Trust Wallet

Accessing and downloading Trust Wallet is easy either as a mobile app on your Android or iOS device or as a browser extension. If you aren’t sure about the links, head to the Trust Wallet.com download page for links to the different options.

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Install Trust Wallet on your desktop browser

First, let’s take a look at how you install Trust Wallet for your desktop browser. You can use Trust Wallet as a browser extension on Chrome, Brave, Opera, and Edge browsers.

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Note: Brave, Opera, and Edge browsers are compatible with the Chrome option.

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The Trust Wallet Browser Extension will then be active on your browser for you to use as you please.

Install Trust Wallet on your mobile device

Let’s take a step-by-step guide on how to set up the Trust Wallet app on your mobile device.

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For this guide, we’ll select the ‘Back up manually’ option.

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To manually back up your Trust Wallet, you’ll need to note down a 12-word secret passcode that will allow you to recover your wallet in case you lose access to it or change your smartphone device.

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And that’s it! You have successfully created your Trust Wallet and are ready to start using the app to buy, sell, and swap 1M+ digital currencies and tokens on your smartphone.

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Remember, storing your secret phrase securely is important. Losing your 12-word secret phrase means losing access to your account and funds.

There are various ways that you can store your Trust Wallet secret phrase. For starters, you can write it down on a piece of paper and keep it in a secure place or store it inside your Password Manager.

Alternatively, you can also engrave your secret phrase on a metal sheet. Now that you know how to download and create your Trust Wallet account, let’s take a look at how you can import a wallet on the app.

Importing an existing wallet

When importing another wallet to your Trust Wallet you’ll need to get the secret phrase:

How to find your secret phrase in the follow wallets:

Once you find your secret phrase, note it down.

Next, open Trust Wallet and you can either select Settings or the wallet selector dropdown.

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And that’s it, your wallet is now imported.

Main Wallet Features

Trust Wallet has multiple features that users can use to make the most out of the crypto wallet. Below, we will take a look at some of the key functions and features the app has.

How to buy crypto with Trust Wallet

To buy Bitcoin with Trust Wallet, go to your Main Wallet, click on ‘Bitcoin,’ and then select ‘Buy’.

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Note: It’s important to note that Trust Wallet does not sell crypto. Thus, all crypto purchases will be made via third-party providers.

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Alternatively, you can also click on the ‘Pay with Credit’ button and select from the third-party provider list a provider you want to buy BTC from based on the rates that work for you.

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For this guide, we are choosing MoonPay as the third-party provider to buy BTC.

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From there, MoonPay will require you to enter personal details like your name, date of birth, billing address, and debit card details. Next, confirm the transaction.

If your purchase is successful, you’ll receive a notification of the same, and your BTC will be deposited into your Trust Wallet as soon as possible.

Sending and receiving crypto & NFTs

Sending and receiving crypto and NFTs on different blockchains is simple with Trust Wallet. Let’s have a look at how it works.

Sending and receiving crypto

In this example, we’ll use Bitcoin (BTC), although Trust Wallet allows you to send, receive, and manage 10M+ assets.

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Sending and receiving NFTs

Sending and receiving NFTs using Trust Wallet is similar to sending and receiving cryptocurrencies. However, for NFTs, you will need to choose the network that you want to receive the NFT through.

To receive an NFT:

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Next, paste the wallet address that you want to send the NFT to and confirm the transfer.

And that’s it!

Securely store assets in one place

Trust Wallet allows users to store and manage more than 10M+ crypto assets, including 600M+ NFTs, across 100+ blockchains. As a multi-coin wallet, you can securely store all your assets under one roof.

To ensure the safety of your assets, always ensure that you never share your secret phrase and that your recovery phrase is always backed up.

Moreover, at Trust Wallet, we believe in the power of technology to secure and transform our users' experience on the decentralized web. One of our core commitments at Trust Wallet is providing everyone with a safe and seamless Web3 experience.

It’s with this in mind that we created the Trust Wallet Security Scanner, a built-in security feature that’s designed to protect your assets by alerting you of any risky transactions while giving you multiple levels of protection. The Security Scanner not only aims to ensure the safety of your transactions but also keeps you in full control of your assets.

How to check your balance and transaction history

To explain how to check your balance and transaction history, we will use the BTC token.

Open your Trust Wallet app, under ‘Home’ navigate to the token section, and select the BTC token. A list of all the BTC transactions you have had will appear below the token and the BTC balance you have.

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Connect to dApps

As a Trust Wallet user, you can easily connect to all your favorite decentralized applications (dApps). It’s as easy as going to your Trust Wallet app and clicking on the ‘Browser’ button in the menu at the bottom.

There you can type in the specific dApp you would like to access or scroll through a range of popular dApps.

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Besides using the Trust Wallet dApp Browser to connect to Web3 applications, you can also use dApps that aren’t natively supported by Trust Wallet. To do this, you’ll need to connect to the specific dApp via WalletConnect.

WalletConnect is an open-source protocol that enables you to connect decentralized applications to mobile crypto wallets, such as Trust Wallet, using deep linking or QR code scanning. This makes it easy for you to secretly transact on Trust Wallet without revealing your personal information.

Below is a step-by-step guide on how you can access dApps on Trust Wallet using WalletConnect. In this guide, we will use PancakeSwap to demonstrate. PancakeSwap is a decentralized platform that enables you to earn, trade, and win cryptocurrencies.

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And that’s it! That’s how to connect to dApps using Trust Wallet and WalletConnect. Always remember to disconnect your wallet once you are done carrying out your transactions.

Stake crypto and earn rewards

With Trust Wallet, you can stake your crypto directly in the app and earn rewards with a few clicks.

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How to swap crypto

With Trust Wallet, you can swap crypto on the same chain or cross chain. Here’s how the process works.

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And here’s an example of a crypto swap in action.

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TWT (Trust Wallet Token)

The Trust Wallet Token (TWT) is a native utility token of the Trust Wallet ecosystem. TWT holders are able to vote on governance decisions on Trust Wallet, such as what kind of blockchain support can be added to shape the platform’s future, discounts, payments, and much more.

The Trust Wallet Token is available on the BNB Chain as well as on Solana as an SPL token.

Safety and Security

Security is at the core of what we do at Trust Wallet. With the trust of over 80 million users worldwide, Trust Wallet takes a proactive approach to security that keeps its people’s digital assets safe and in their control by giving them ownership of their private keys.

In addition, Trust Wallet takes a multi-faceted approach to security by utilizing industry-leading encryption in all its products. This also includes in-app one-to-one communication with users when needed.

Importance of protecting your seed phrase

Your secret phrase is the master key to your wallet, and anyone who has it can access all your crypto. Your seed phrase should be known by you and you only. Since Trust Wallet is also a non-custodial wallet, we don’t own your wallet’s private keys, and in the event that you lose them, you will have lost access to your account and funds.

Trust Wallet security scanner

To further enhance its security, Trust Wallet has an inbuilt Security Scanner that helps detect any potential risks when you carry out any crypto transaction within the wallet. As a result, you can enjoy a safe and seamless crypto and Web3 experience while using Trust Wallet because all transactions are assigned a risk level. This way, you can make more informed decisions when carrying out transactions.

Best practices for keeping your funds secure

Keeping your funds safe starts with you. That said, there are several best practices that you can incorporate to keep your funds secure.

Firstly, ensure that you securely store your recovery phrase. Secondly, always back up your Trust Wallet. Thirdly, do not share your seed phrase with anyone. Last but not least, ensure that you only interact with the real Trust Wallet app and avoid downloading any malicious links or phishing emails.

Troubleshooting and Support

Unfortunately, many crypto applications and platforms don’t have real customer support teams. However, that’s not the case with Trust Wallet. Besides having a responsive customer support team, Trust Wallet also has various community resources for help and support that you can plug into.

Common issues and how to resolve them

Trust Wallet has a dedicated troubleshooting page that allows users to fix any issues by themselves first. This, however, does not mean that you cannot ask for help from the support team in the event you are unable to resolve the issue you have with the app or platform.

Contacting the Trust Wallet Support Team

Trust Wallet has an easy-to-access support team of real people who are always ready and willing to help. Trust Wallet’s team works around the clock to ensure that our community is well taken care of in case they have any issues.

Community resources for help and support

There are multiple ways that Trust Wallet users can get help and support. If you want any kind of support from Trust Wallet, feel free to head on over to community.trustwallet.com or reach out to the team via Telegram or Twitter.

Get Trust Wallet now and start exploring Web3 without limits.

Frequently Asked Questions

Are there any fees associated with using Trust Wallet, such as transaction fees or account maintenance fees?

Trust Wallet does not charge any fees for using the app itself. However, there are transaction fees associated with using the blockchain networks to send and receive cryptocurrencies. These fees vary depending on the network congestion and the type of cryptocurrency being transacted.

Can Trust Wallet be used to store any type of cryptocurrency, or are there limitations on the coins and tokens supported?

Trust Wallet supports a wide range of cryptocurrencies and tokens, including popular ones like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), as well as many ERC-20 tokens. The app is designed to support any cryptocurrency that is compatible with the Ethereum or Binance Smart Chain networks.

How does Trust Wallet ensure the security of user funds, especially in the case of loss or theft of a mobile device?

Trust Wallet employs several security measures to protect user funds. These include encrypting the private keys stored on the device, enabling biometric authentication (such as fingerprint or face recognition), and providing the option to create a backup of the wallet's recovery phrase. In case of loss or theft of a mobile device, users can restore their wallet on another device using the recovery phrase.

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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.