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Trust Wallet Review

Trust Wallet is a cryptocurrency wallet that works as a browser extension and mobile app. It features advanced functions such as staking, DEX and access to DApps. 

Short History of the Trust Wallet

Trust Wallet was launched in November 2017 and immediately gained recognition among users. Initially, users noted the "automatic tokens" feature because it allowed them to identify and display any ERC-20 tokens associated with their address. Trust Wallet was acquired by Binance on July 31, 2018, as their first acquisition. It was added as a secure mobile network wallet to Binance's list of services. In 2020, Trust Wallet ranked 6th among the top ten most downloaded cryptocurrency applications. 

In January 2023, the company announced that the browser-based version of Trust Wallet began supporting the Ledger hardware wallet in a public beta format. This enables customers to use the crypto wallet to access Web3 without jeopardizing private keys.

Trust Wallet Features

The Trust Wallet supports 65 blockchain networks, including Bitcoin, Ethereum, Solana, BNB Chain, Cardano, Tron, Polkadot, Ripple, EOS and others.

This crypto wallet offers standard cryptocurrency transfer functions on selected networks like any other cryptocurrency wallet. In addition to this, the wallet supports advanced types of cryptocurrency operations. Let's take a look at them:

• Exchange. Trust Wallet has an integrated exchange for cryptocurrencies. Exchange is possible through the THORChain Swap and DEX platforms. You may click on the "Exchange" option in the main menu to gain access to the exchange.
• Staking. Trust Wallet facilitates the staking of cryptocurrencies. Coins such as EVMOS, DOT, SOL, OSMO, ATOM, KAVA, LUNC, XTZ, TRX and BNB are all eligible for staking. Choose the coin you want to stake from the list, then click "Stake."
• NFT. You can keep NFT tokens in your Trust Wallet. Ethereum, Solana, Polygon, Gnosis Chain, Ronin, BSC, Optimism Ethereum, Avalanche C-Chain and Arbitrum are just a few of the networks it supports.
• Browser DApp. The crypto wallet has a browser extension. It allows you to exchange tokens, play Web3 games, make a Web3 wallet out of a browser on your computer, or whore for Web3 decentralized applications (dApps).

You can top up your Trust Wallet using a bank card. To do this, go to the main menu and click "Buy." After processing the transaction, the cryptocurrency will be deposited into your Trust Wallet account. 

Wallet Benefits

Trust is a multifunctional decentralized wallet. Among its other advantages are:

• Use of an individual private key. It promises virtually a 100% guarantee of client funds' security in the wallet and related services.
• Access to a vast number of tokens and blockchains.
• Compatibility with most decentralized applications (dApps).
• The ability to earn passive income through cryptocurrency staking.
• Support for fiat currencies. With the help of a third-party partner, Trust Wallet allows the purchase of cryptocurrencies using a card in any of the 16 supported fiat currencies.
• NFT wallet. In addition to standard cryptocurrencies, you can store various NFT assets created on the Ethereum or BNB Chain on Trust Wallet.

Trust weak points

Regarding Trust Wallet's drawbacks, customers have to be aware of the following:

1. Risks of hacking the smartphone itself, which means that an attacker can gain access to all the applications;
2. Lack of two-factor authentication.