In this article, we are going to get to know one of the popular mobile wallets called Trust Wallet, which has Android and iOS versions. This wallet has a versatile application and with its help you can do things like management or buying and selling cryptocurrencies at any time without delay. In addition, you can monitor your public and private keys. You can connect to decentralized exchanges such as Kyber network, Coinbase, Shipshift and Changelly, and you can convert your coins or tokens from within this wallet. Plus, you have an in-bag browser that lets you run Dapps. Most importantly, the big exchange Binance is the owner of this wallet! In the rest of this article, stay with us to explain the history, features and characteristics of this digital currency wallet.
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Getting to know the history of Trust Wallet (Trust Wallet)
The creator of TrustVault is a Ukrainian developer named Viktor Radchenko, who lives in America. He considered Bitcoin as a concept for transferring assets in the illegal space of the dark web, but after the emergence of Ethereum, he became interested in the field of cryptocurrencies and tried to develop an application on its platform to help truck drivers so that they could easily find a clean place and Use the features of the application.
In 2017, he started writing the Trust wallet program with the aim of developing a tool that would store tokens compatible with the ERC20 standard. The result was a mobile wallet that soon became the best wallet in the crypto market and was able to support a wide range of coins. The production of this wallet coincided with the emergence of startups and the initial supply of a wide range of cryptocurrencies, and this caused the attention of many users to be drawn to this wallet. The popularity of TrustVault increased day by day. Finally, it got to the point where the world’s largest digital currency exchange, Binance, was interested in buying this bag. The base company of this wallet (Six Days LLC) sold this wallet to Binance for a huge amount!
Features and characteristics of the Trust Wallet (Trust Wallet)
Next, we are going to get to know the features and characteristics of this wallet. The most important features and benefits of TrustVault are listed below:
- Free download and easy installation
If you have a smartphone that supports Android version 6 and above or iOS 13 and above, you can download the Trust wallet app for free from the Google Play Store or the App Store. For this, refer to the official address of this site. This free mobile wallet is available and can only be installed with a tablet or mobile phone. You will not have any restrictions in installing this wallet and you do not even need to fill out a form.
- Ease of use
Working with this wallet is so simple that it is recommended for people who are new to trading and buying and selling digital currencies. Unlike wallets that involve the user in complex settings and require specialized training.
- The ability to support various crypto currencies
TrustWallet wallet is able to support all tokens compatible with ERC20 and ERC223 standards. So, you will have the possibility of keeping a wide range of coins such as Ripple, Ethereum, Bitcoin, Polkadata, Stellar, Dogecoin, Tron, Dash, Theta, Nier, Harmony, etc. Therefore, with this multi-crypto wallet, you have access to more than 160 different coins!
Therefore, if you have a multi-crypto portfolio, you have the ability to install TrustVolt without the need to install multiple wallets and easily manage your portfolio. It is interesting to know that the creator of this bag always tries to cooperate and interact with new blockchain projects and expand its support services!
- high security
TrustVault helps protect your funds from theft and hacking. However, the developer of this wallet has also thought of measures to protect the privacy of users. Among the most important security items used in this bag, the following factors can be mentioned:
- No private key storage on wallet servers
Your private keys are stored only on your smartphone’s memory after encryption.
- No authentication or anonymous use
In this wallet, there is no need to authenticate and provide private information. Rather, the commitment to privacy in this wallet requires that no personal data be stored on the servers.
- Open source
Since Trust Wallet is open source, its source code is publicly available. Even this bag was checked online by Stateful security experts and no bugs were found in it.
- The possibility of making a backup copy (Back Up)
You can back up your recovery statements when creating your wallet. Therefore, you can easily restore your private keys and assets from your digital or even paper backup.
- Using known standards for services to support keys
The private keys in this wallet are not wallet dependent and users can easily transfer their assets with other wallets.
- Having modern security features
The trust wallet uses modern features that place emphasis on the creator of the wallet and store the private keys on the user’s device after encryption.
- Having a user-friendly interface (User Friendly Interface) and multi-purpose
Trust Wallet is fun to use and versatile. User interfaces are always designed to meet the needs of users. TrustVolt also pays special attention to user experience. This wallet supports professional tools in a simple framework. In this wallet, in addition to storing and exchanging all types of coins and tokens, you have decentralized financial capabilities. TrustVault allows you to access decentralized applications (DApps). You can benefit from operations such as staking and winning prizes. Use Borrowing-Lending systems or use the services of decentralized exchanges. The new Wallet Connect feature in this wallet allows connecting desktop Dapps to mobile wallets without end-to-end encryption.
- The possibility of developing foreign wallets on the TrustVault platform
The Trust wallet builder has built a platform on top of the wallet core that is open source, allowing developers to collaborate and interact with the outside world. The transparency of this wallet is so high that here, it has shared its base code through Github.
- The possibility of buying cryptocurrency with a credit card and bank account
Since 2020, due to the increased acceptance of cryptocurrencies, it has been possible to purchase them through a credit card and bank account. Currently, the wallet is looking to increase purchasing methods and cooperation with other service providers.
- Having a browser for decentralized applications or (DApp)
In this wallet, there is a special browser to enjoy decentralized applications so that users do not need to install separate applications. This option is one of the competitive advantages of TrustVault compared to famous wallets such as Metamask. All this is in addition to the games and prizes offered on this wallet.
In this article, we introduced Trust Wallet and saw that this wallet is easy to use and supports various tokens and currencies. In addition, it provides good features such as staking and running decentralized applications. Of course, as a disadvantage, we can mention the lack of support for two-step authentication in this wallet. It is enough to credit this wallet that the international exchange Binance is the sponsor of this popular wallet.