In this article we will discuss What is Trust Wallet and How to use it. Trust Wallet is a cryptocurrency wallet that enables you to store digital assets such as Bitcoin. Additionally, you can use the app to earn interest on your digital assets and access decentralised applications. Furthermore, Trust Wallet allows you to purchase cryptocurrencies.
However, if you use a decentralized application such as PancakeSwap on your PC, you can connect Trust Wallet to it.
You will learn how to utilize Trust Wallet in this tutorial. You’ll learn how to establish a wallet, fund it, and use decentralized applications.
The Trust Wallet: How to Use It
Obtain Trust Wallet | How to download Trust Wallet
- To begin, download Trust Wallet Trust Wallet is accessible exclusively through the App Store and Google Play Store.
- To begin, click above links based on your device. It will take you to App Store or Google Play Store based on your choice on your device.
- Tap “Get”/”Install” to begin the Trust Wallet download.
Create a wallet | How to build a Trust Wallet wallet
- After downloading Trust Wallet, launch it.
- Following the app’s launch, you will be provided with 2 options. Option 1-> “New wallet creation”. Option 2 -> “I already have a wallet.”
- You can import an existing wallet by tapping on “I already have a wallet.” .
- You must validate it with your recovery phrase.
- If you do not already have a wallet, tap “Create a new wallet” to create one.
- It will prompt for Recovery phrase for the New Trust Wallet. You will require the recovery phrase in order to access your Trust Wallet.
- Tap on “Copy” to duplicate your recovery phrase.
- Copy of your recovery phrase available on your clipboard.
- Save the copy safely
- Your recovery phrase can be pasted into a word document or your notes.
- Tap “Continue” to move further with setting up of wallet.
- You will prompted to Confirm the recovery phrase
- Tap the words on the screen exactly in order they were in recovery phrase.
- Once done Tap continue
- Viola your Trust Wallet is created. As you will see a Pop-Up “Your wallet was successfully created”
- Complete the wallet creation procedure, tap “OK.”
You’ll now be able to deposit bitcoins and use decentralized applications on the app.
How to deposit cryptocurrency and use a decentralized application such as PancakeSwap | Make a cryptocurrency deposit
After creating a wallet on Trust Wallet, you can begin depositing cryptocurrency into it.
- To begin, on the “Wallet” screen, Tap the coin you wish to deposit.
- Trust Wallet by default only four cryptocurrencies are enabled for deposit: Bitcoin, Ethereum, Binance Coin, and Smart Chain deposits.
- If you are unable to locate the cryptocurrency you wish to deposit, you must manually add it.
- Navigate to the top navigation bar and touch on the Settings symbol on top right corner.
- Then, using the search box, locate and enable the cryptocurrency you wish to deposit.
- Additionally, you can paste the cryptocurrency’s address into the search field to locate it.
Lets go over how to deposit BCH in trust wallet
- After tapping on the cryptocurrency you wish to deposit, you will be taken to its wallet.
- If you tap on “BCH,” for example, your BCH wallet will open.
- There are four options: “Send”, “Receive”, “Copy”, and “Buy”.
- To copy your BCH address of Trust Wallet, tap on “Copy.”
- Later on, you’ll need this to send BCH to this address through Binance, Coinbase, or another cryptocurrency exchange.
Utilize distributed apps
- You’ll learn how to use decentralized applications in this part.
- Trust Wallet includes a DApp browser that enables users to access decentralised applications.
- If you have an Android device, you can directly access decentralized applications via the app.
- If you’re using an iOS device, however, you must navigate to the decentralised application via your browser.
- To begin, launch your browser and navigate to a decentralised exchange such as PancakeSwap.
- Once on PancakeSwap, you’ll need to connect your Trust Wallet.
- To do so, touch on the top navigation bar’s “Connect” button.
- After tapping “Connect,” the “Connect to a wallet” pop-up window will open.
- The pop-up window offers a list of available bitcoin wallets.
- Rather of tapping “TrustWallet,” tap “WalletConnect.”
- Avoid tapping on “TrustWallet” as this may result in a provider error.
- After tapping “WalletConnect,” you must select the wallet to which you wish to connect.
- You can link to a variety of wallets. This includes “Rainbow,” “Trust,” and “Argent,” among others.
- To connect to Trust Wallet, tap on “Trust.”
- After tapping “Trust,” you’ll be invited to open the Trust page.
- The pop-up message reads, “Open in “Trust”?” ”.
- To open the page on Trust Wallet, tap on “Open.”
- After you tap “Open,” Trust Wallet will open.
- After that, you’ll be prompted to link Trust Wallet to PancakeSwap.
You may now exchange BCH for another cryptocurrency on PancakeSwap. To do so, touch on “Select a currency” and paste the cryptocurrency’s address that you wish to purchase. Then, enter the quantity of BNB you wish to exchange for the cryptocurrency and tap “Swap.”
You’ve successfully created a wallet, deposited cryptocurrency, and used Trust Wallet’s decentralized applications!
Additionally, Trust Wallet enables you to stake coins and purchase them with a credit card. These characteristics are not discussed in the preceding tutorial. Trust Wallet has worked with a few cryptocurrency exchanges to facilitate the purchase of cryptocurrencies. Due to their hefty fees, it is recommended that you purchase cryptocurrency via Binance instead.
You can stake your cryptocurrencies on Trust Wallet to earn income from them. Staking coins on Trust Wallet enables you to earn up to 100% annual percentage yield. Staking is comparable to earning interest on money held in a bank.