What is Trust Wallet? Trust Wallet is a Binance Smart Chain based crypto wallet that supports many cryptocurrencies. In this article, you can access answers to frequently asked questions such as what is Trust Wallet, what it offers, what is TWT coin, how to get it, what is it used for. As Kriptokoin.com, we have prepared it for our curious readers. Let’s examine the project together.
What is Trust Wallet?
Trust Wallet is a popular mobile crypto wallet application that houses many cryptocurrencies, including tokens on the Ethereum, Binance, Tron and Litecoin blockchains. The platform allows trading of many token types such as ERC-20, BEP-20 and ERC-721 tokens. In addition, the mobile wallet has a native cryptocurrency called TWT coin. TWT provides decentralized administration of the application and apart from that it has various use cases.
The platform that aims to gather many transactions that can be made in the crypto money industry under one roof; NFT includes a variety of operations such as buying, holding, trading and exchanging cryptocurrencies. Besides, the wallet also provides services such as playing the latest Blockchain based games, accessing dApp and DeFi platforms.
Trust Wallet, founded by Viktor Radchenko in 2017, was acquired by Binance, the world’s largest cryptocurrency exchange, in 2018. Therefore, the wallet is powered by Binance DEX. The platform, which currently has over 10 million users, executes a Bitcoin purchase order in less than five minutes. Platform users can secure their assets with private passwords.
What is TWT coin? What is it used for?
TWT coin is the utility token of the Trust Wallet wallet. Originally created with the ERC-20 smart contract, the token was re-issued as BEP-20 after Binance’s acquisition. Working with the Proof-of-Stake consensus mechanism, TWT is also a governance token and ensures the decentralization of the wallet. Users; can earn TWT coins through quizzes, recommending wallets to people outside the platform, in-app staking. Holders of the token can vote on the decisions made about the platform through their tokens and submit proposals to the community for exchange.
TWT coin holders can get additional features and benefits within the wallet. TWT can be transferred to any BSC wallet that supports its tokens using the BEP-20 smart contract. TWT transferred to other wallets can be used to exchange or purchase services. TWT coin holders can trade at a discount on the decentralized exchange and purchase apps within the wallet. TWT is among the first tokens built on the Binance Smart Chain. Therefore, holders of the token can quickly transact for low fees. Besides, TWT can be staked within the app. Users can earn additional token rewards at maturity by locking their holdings with a specified maturity.
How to get TWT coin? Users wishing to purchase
TWT coin should find an exchange where the token is listed. The largest cryptocurrency exchanges listing the token are Binance, CoinTiger, KuCoin, and Phemex. Investors interested in Trust Wallet can purchase and use the token by signing up for one of these exchanges and depositing funds into their wallets.
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