Coin Wallet Trust Wallet Must Read for Newbies www.deekpay.com
Coin Wallet Trust Wallet Must Read for NewbiesCoin Wallet Trust Wallet Must Read for Newbies
element
What is Trust Wallet?
Trust Wallet is CoinSecurityBinance One of the official wallets of the company is a portable, decentralised, open-source, unmanaged crypto wallet, whose best feature is its practicality and guaranteed security.
Founded in 2017 and based in the U.S., Trust Wallet was acquired by Binance in 2018, initially they focused on providing Ether and Ether-based cryptocurrency wallets. However, with Binance's financial assistance and operations, in just a few years Trust wallet has been able to support 160k cryptocurrencies on more than 60 blockchains, which has made it easier for users to trade directly with each other.
Trust Wallet is like a browser that allows you to store your private keys, manage cryptocurrency payment addresses, and buy, trade, and pledge cryptocurrencies. trust wallet displays Chinese language and has a simple interface, so I think it is the best virtual currency wallet for beginners.
It's also popular among traders because it's very versatile and has an easy-to-use API that can be integrated into a variety of DAPP applications, making it very convenient for investors who want to get into the NFT and Defi ecosystems.
nodehttps://trustwallet.comWallet typeWallet application for iOS and AndroidSupported cryptocurrenciesSupport for more than 60 blockchains with more than 160K+ cryptocurrenciesHardware wallet compatibleNo feesNo transaction fees, only gas fees (system fees)In-app featuresPurchase of cryptocurrencies and NFTs through third-party providers; send, receive cryptocurrenciesIs Trust Wallet safe?
Trust Wallet is considered one of the most secure hot wallets in the world. It uses military-grade encryption to protect online interactions and protects your private keys with bank-grade security. You can access your wallet using FaceID, TouchID, or a traditional password.
decentralised storageAs mentioned earlier, Trust Wallet is a decentralised wallet that offers uncustodial storage. In turn, this means that users can store their cryptocurrencies anonymously - without having to sign up for an account. This will appeal to users who want to keep their cryptocurrency investments private and secure.
PIN code/passwordWhen using the Trust Wallet app, users have the option to set a PIN. This is highly recommended as it adds an extra layer of security to the wallet. Additionally, users should consider adding a lock screen passcode to their smartphone device. Those using Chrome's Trust Wallet extension will need to set a password.
private keyIn addition to the PIN/password, Trust Wallet provides the user with a private key.
The best way to ensure securityAs an unmanaged wallet, Trust Wallet is vulnerable to hacking and fraud. Here are some tips on how to stay safe when using Trust Wallet:
Fraudsters may pose as Trust Wallet Customer Support Agents to trick users into providing their private keys. Never share any information about your wallet online, especially on applications such as Telegram. Be wary of email phishing attempts. These are common emails that pose as Trust Wallet but are actually run by scammers. Avoid clicking on links from unknown sources. This could be a keylogger or a virus that could give hackers access to the wallet's credentials.Eventually, if the private key is compromised, the funds will likely be transferred to the hacker's own wallet. Trust Wallet will not be able to help in this situation. Users should be aware of the risks associated with non-trusted wallets and ensure that the above actions are followed to ensure the safety of funds.
How does Trust Wallet work?
To understand how Trusr Wallt protects the safety of user funds, you should be aware of non-custodial and custodial.
Exchange wallets are custodial wallets, when funds are stored in an exchange wallet and the private key is held by the exchange. The advantage is that you can trade on the exchange on a regular basis, which is convenient, but the disadvantage is that it is too insecure for long-term storage.
However, Trusr Wallt is a non-custodial wallet and only you have access to the private key. Even though Trust Wallet is an online wallet, all of the user's information is stored locally and encrypted on their device and is never shared with any third party.
When you setup Trust wallet for the first time, it will create a 12-word phrase for each user, also called "backup phrase", which is a random set of words generated by the wallet. We know that the private key is a combination of code and English, which is very hard to remember, and it's easy to make a mistake recording the private key, whereas the backup phrase is much easier to record.
The Backup Phrase acts as the master key for the Trust Wallet encrypted wallet, so if your phone breaks and your hardware wallet breaks, your Backup Phrase will allow you to set up a new wallet on your phone, browser, or hardware device and regain access. It's a good idea to record your backup phrase in a notebook and keep it in a safe place.
There is also fingerprint and facial recognition when logging into Trust wallet, which adds to the security. Unhosted wallets are largely less vulnerable to hacking, and Trust wallet has not been attacked since its inception.
Trust Wallet Diversification
Cryptocurrency Purchase Transactions
You can easily purchase cryptocurrencies within your wallet, as well as exchange one cryptocurrency for another token across the chain via your wallet, allowing you to smoothly trade assets between networks. The insufficient purchase feature is available through third-party providers such as MoonPay, Ramp Network, Simplex, Transak, and Wyre.
Easily manage digital assetsTrust wallet is a manager that mainly manages your various cryptocurrencies receiving address and private keys, also has a built-in blockchain browser that allows you to keep track of your portfolio, view price charts, news, can send and receive cryptocurrencies there is also Defi that allows you to borrow and deposit coins. Make your cryptocurrency investment more convenient and efficient.
Trust Wallet and DApp InteractionTrust Wallet is the first mobile wallet to offer access to decentralised apps directly from the app. At the bottom of the wallet is the DApp option to access the Dapp, which is like a blockchain browser, no different than what we use in Chrome. Users can search, read news, and interact directly with DApp apps including Opensea, Uniswap, and more for seamless connectivity.
Built-in Stake function for direct pledge
Token pledging is like when you put your money in a bank and let the bank invest you to get interest. You can pledge your cryptocurrency assets through Defi and DApp directly from your wallet. Trust wallet currently supports 12 cryptocurrency pledges.
NFTs can be keptYou can purchase NFTs by visiting popular NFT marketplaces such as OpenSea or Rarible in Trust Wallet's DApp browser.
Chinese (China) 
English 
Chinese (Taiwan)