picture of a leather wallet with currency bills on it, on a table with a key and smart phone

What is Trust Wallet and how does it work?

If you have anything to do with crypto, you might have heard of Trust Wallet. Although it is a cryptocurrency wallet like any other, it has some unique features that make it more of a Web3 wallet than most.

If you want to find out what these features are and how Trust Wallet works, read on for all the details you need to help you decide if Trust Wallet is right for you.

What is Trust Wallet?

Trust Wallet is a non-custodial cryptocurrency wallet designed to make it easy to buy, send, receive, trade, and store cryptocurrency. The wallet is simple and easy to use, so its design makes it suitable even for absolute crypto beginners.

Besides the regular use of cryptocurrencies, which most wallets have, Trust Wallet allows you to stake cryptocurrencies and earn rewards. Trust Wallet supports a large number of cryptocurrencies including Bitcoin, Ethereum, Binance Coin, Litecoin, and XRP. This is way more than most crypto wallets can handle.

Indeed, Trust Wallet is also a non-fungible token (NFT) wallet, as it allows you to buy, store and sell NFTs. You can trade NFTs on your mobile device as the wallet is strictly mobile-based. Being decentralized, it has no one in charge, and each user is independent and responsible for their own security.

Trust Wallet is a hot wallet, which means it is always online as long as there is an internet connection. See how this compares to cold wallets, which are mostly offline and only connected to the internet when you want to use them.

What are the features of Trust Wallet?

One of the main unique features of Trust Wallet is that it supports loads of cryptocurrencies from different blockchains, unlike wallets like Metamask and MyEtherWallet, which mainly support Ethereum ERC20 tokens.

With Trust Wallet, you can buy cryptocurrencies from different third-party platforms, including Mercuryo, MoonPay, Ramp Network, Simplex, Transak, and Wyre.

Another thing that sets the wallet apart is its ability to buy and sell NFTs. What else? You can also use Trust Wallet to stake 12 cryptocurrencies including BNB, Cosmos, and Tezos and earn rewards right within the mobile app.

If you have cryptocurrencies on other wallets, such as Metamask and MyEtherWallet, you can easily transfer them to Trust Wallet using your secret recovery phrase. You can also use a keystore file, private key or even public key to migrate your wallets.

How to set up a trusted wallet

As mentioned earlier, Trust Wallet is a simple wallet designed for everyone, so setting it up is a straightforward process. But, first you need to download and install it on your mobile device.

To download: Trusted wallet for android | iOS (Free)

After installation, select the Create a new wallet button if you don’t have one.

Then read the privacy policy and terms of service. If you are satisfied, check the button below to accept, then click on Continue. You will then be asked to create a six-digit passcode. This will be your secret security code to access the wallet. You should never share this with anyone.

The next step is crucial. You are supposed to back up your wallet. This will be the only way to recover your wallet should anything happen to your mobile device. Remember that you cannot contact anyone at Trust Wallet to retrieve your wallet as the wallet is not private.

You will need to check all three boxes on the page to confirm that you know the implications of these things happening to you.

Click on Continue once you have finished. The app will then display the 12-word recovery phrase, which you must write in the correct order and keep in a safe place. Click on Continue once you have finished.

On the next screen, you will be asked to select the words from the recovery phrase in the order you wrote them down. This is to ensure that you have copied the words somewhere, preferably on a sheet of paper. Once you’ve done that correctly, click Do, and your wallet is set up!

From there, you can easily navigate the wallet, first adding funds (cryptocurrencies) either from another wallet or buying them to start with.

What are the Trust Wallet fees?

Trust Wallet is free to download and install and does not charge any fees. However, when sending cryptocurrencies or NFTs to other destinations, you will incur network charges which vary depending on network occupancy.

Ethereum gas fees can be a headache, but there are ways to reduce gas fees and make transactions cheaper.

How secure is Trust Wallet?

The fact that Trust Wallet is a decentralized wallet already gives it a certain level of security. Nobody has central control, so they can’t steal your funds. The wallet also contains a 12-word recovery phrase that you can use to retrieve the wallet whenever you lose your device.

However, more security features such as two-factor authentication are needed so that no one can access your wallet or set up another wallet using your recovery phrase and passcode. access without receiving notification.

7 Advantages and Disadvantages of the Trust Wallet

You’ve heard all about Trust Wallet, but before you make your final decision, check out the final list of pros and cons.


  • It is a decentralized wallet with no central control
  • Supports many assets
  • Very simple and suitable for beginners

The inconvenients

  • The fees for buying crypto from third-party providers are quite high
  • Requires additional security features
  • Not compatible with hardware wallets
  • Hot wallets are generally more susceptible to attack than cold wallets

Should you use Trust Wallet?

Knowing what Trust Wallet is and what it is for, should you use it? It depends on your goals as a crypto or NFT user or trader. If you’re new to the space and looking for an easy-to-use wallet, Trust Wallet might be a good choice.

It is also a good choice if you need a wallet that allows direct NFT trading. However, you should be aware that you are responsible for the security of your wallet and that no one can help you recover it, not even the Trust Wallet team.

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