Various safety concerns represent arguably the most dangerous risks in the entire market. Exceptional high-interest rates combined with promising opportunities for further technological and financial development attract not only investors but also different types of shady characters.
Developers are constantly seeking new ways to guarantee at least tolerable safety of crypto assets. In recent years, we have seen many imaginative concepts dedicated to this issue, such as hardware wallets, which are considered one of the most secure solutions in the market.
However, high security comes with a price: such options are rarely convenient to use. The appearance of Trust Wallet (TW) drastically changed the situation. This mobile-based digital wallet successfully combined high-security standards with convenient features. Moreover, it comes with its in-house token, which supports crypto staking. What is Trust Wallet Token?
Read on to learn more about its features and investment potential.
What Is Trust Wallet: Trust Wallet Token List
TW is a non-custodial mobile blockchain-based wallet, which supports various cryptocurrencies. It is an open-source solution with a built-in decentralized exchange service. Thanks to it, clients from all over the world can accumulate, hold, sell, purchase, transfer, and even stake diverse coins and NFTs.
Currently, it deals with a multitude of crypto assets, including the main ones, such as:
· Bitcoin.
· Ethereum.
· Binance Smart Chain.
· Solana.
· Filecoin.
· Avalanche.
It is available on both iOS and Android. In addition to a simple intuitive interface, it can boast of high safety standards with biometric security options. As for its biggest cons, they mostly revolve around its decentralized nature and client-control orientation. For instance, its app is not compatible with mobile browsers, which means that its clients have to work solely with the built-in browsers. Nevertheless, its high level of anonymity and data protection easily compensate for such drawbacks.
This wallet also provides profit-maximizing staking for twelve tokens. However, in addition to internationally recognized cryptocurrencies, it also supports staking in its native coins — trust wallet tokens.
What Is Trust Wallet Token: Main Functions
TW is not merely a wallet but rather an entire digital ecosystem, which requires reliable governance and control. Trust Wallet Token provides exactly that — it is a smart-contract-based token with a variety of functions, such as the following:
· Governing function. This token is a unique regulating tool. Holders of this token may exercise some control over decision-making, such as deciding what blockchain to support, what tokens to add to the wallet, or what new features should be introduced. These voting rights attract those traders who wish to have a direct impact on the transformation of the ecosystem.
· Maintenance of liquidity pools. Users may deposit these tokens into liquidity pools at the decentralized exchange platform just like a normal coin.
· Regulation of discounts. Those clients who participate in transactions using these tokens obtain various rewards.
· Crypto staking. Finally, clients may stake these tokens and receive passive income.
This coin comes in two token standards: the BEP20 token (Binance Smart Chain) and the BEP2 token (Binance Chain). It can also boast of relatively low gas fees and almost instantaneous confirmations.
Where Can I Get Trust Wallet Tokens?
Due to its high popularity among both investors and cryptocurrency enthusiasts, it is available on a multitude of platforms, including traditional and decentralized exchanges. The Trust Wallet Token list of available platforms contains the following brand names:
· Binance & Binance DEX;
· MXC;
· Gate.io;
· Hoo.
As for the token supply, it is set at 1 Billion. The distribution of this token demonstrates interesting dynamic patterns:
· 40% of tokens belong to clients;
· 30% — reserved stores;
· 15% — the community;
· 15% — developers.
Should You Invest in TWT?
Naturally, long-term predictions are rarely true when it comes to cryptocurrency markets — high volatility and unpredictable technological advances render the majority of such forecasts almost useless, since even slight price shifts may provoke cascade reactions and change the resulting value of tokens. Nevertheless, it seems like a legit long-term investment.
The essential advantages of investing in TWT include the following:
· The community behind this product is getting momentum. The project is still in its early stages. Further development will reinforce its position in the cryptocurrency market.
· It is already supported by Binance. We are talking about a leading cryptocurrency ecosystem with hundreds of various tokens. The fact that TWT is integrated into this network should be viewed as the backbone of its further success.
· The token comes with a variety of interesting features. Although it is an in-house token, it may be swapped with other crypto assets within the network.
· As for the forecasts regarding its value, they look promising for long-term investors. We may expect that it will reach $1.2 within a year and $3.5 within five years.
The essential disadvantages of investing in TWT include the following:
· It is an in-house token, which limits its benefits for investors.
· This token is near ideal for those who wish to participate in market trading. However, one obtains no significant benefits by simply holding it as a cryptocurrency asset.
· As we already mentioned, the project is still in its early phases of development, which means that its features may drastically change with time.
· Limited functionality.
The last point deserves special attention. We live in times when automated trading mechanisms greatly increase the efficiency of deals in the crypto market. For instance, Jet-Bot is an innovative copy-trading platform, which offers traders a chance to optimize their trading and investment approaches by duplicating the moves of successful investors. Thanks to its services, clients may earn more and faster without wasting their time and resources on dead ends.
As of today, such a platform is a pioneer in the market. However, there is little doubt that such a scheme will become a new hit. The limited functionality of in-house tokens makes them less suitable for similar operations. However, while it slightly reduces their usefulness for traders, it makes them all the more important for investors.
Trust Wallet Token on Binance
As we already mentioned, you can also make use of the Trust Wallet Token on Binance. One can argue that ties to Binance act as one of the main drivers behind its escalating popularity. To do so, you will need to integrate it with Binance Smart Chain.
Here is a brief guide on doing so:
1. Visit its website and select a preferred OS.
2. Download and install its app.
3. Open it and create a new cryptocurrency wallet.
4. Next, you will obtain a recovery phrase, which will be useful in case you will be experiencing troubles with your phone.
5. Confirm your recovery phrase and continue.
6. Deposit some Binance Coins to pay for gas.
Final Thoughts
TWT represents one of the most convenient and popular cryptocurrency projects. It has a variety of considerable advantages over similar tokens, including ultra-low transaction fees, almost instantaneous running speed, rewarding options for crypto staking, and excellent integration in the current ecosystem with close ties to Binance.
All these features make it a very promising candidate for long-term investments. However, we have to keep in mind the extreme volatility of the market and its enormous sensitivity to real-world processes, which may result in rapid price movements.
