The Trust Wallet Token or TWT is a BEP20 utility token of the Trust Wallet platform that provides the holders a wide range of benefits and rewards. The Trust Wallet Token was initially launched in 2017 as BEP2 assets on the Binance Chain but was re-launched in October 2020 as a BEP20 token on the Binance Smart Chain.
Trust Wallet is a user-controlled, decentralized wallet that holds the keys to a user’s cryptocurrency wallet and allows only the user to gain control and have access to their funds. Users can also have access to several DApps and do not store personal information, unlike centralized wallets.
It acts as a bridge and connects to each blockchain through its nodes. Originally each blockchain has a designated public address where cryptocurrency tokens are stored and encrypted for safety.
Trust Wallet does not hold or control the cryptocurrency token in the wallet, rather they give users access to store and manage them. It also provides users the ability to trade and stake. The wallet is free to download and does not earn any fee when users operate them.
The wallet supports several native assets and popular roles that are found in the Ethereum, Binance, and Tron’s blockchain.
The only required fees are the network or transaction fees that are paid to the miners and validators. Network fees are charges anytime you send any cryptocurrency from one address to another. Also, when making trades on the exchange platform, the fees are incurred.
The amount of network fee paid varies on the type of network the users choose and sometimes there is some token that requires a secondary network fee called the gas token.
Currently, the Trust Wallet supports a wide range of tokens like the ERC20 and ERC223 tokens. The platform currently has over 20,000 tokens and a Web3 DApp Browser that allows users to interact fully with the available decentralized application on the application.
The wallet has several features that allow users to access more. These features include the wallet where users can send and request ERC20, ERC223, TWT, and other approved tokens. The watch feature allows users to add an address and get notified instantly once the notified network becomes active.
The DApp Browser allows users to use the Decentralized application to buy and sell tokens. They can also collect other forms of digital assets like Crypto kitties, crypto punks, and other NFTs.
The holders of the TWT are bestowed with a wide range of benefits ranging from the ability to vote and partake in governance that will shape and develop the platform.
Who Are the Founders of Trust Wallet Token?
The Trust Wallet Token was founded by the founder of Viktor Radchenko in 2017.
Viktor performed several managerial and software developing roles at various software firms and is currently based in California. He is known to be one of the co-founders of the company behind one of the most used applications for trucks, truck parts, and logistics—Trucker Path.
However, he gained interest in mobile cryptocurrency development when he researched and realized there was no available application on Ethereum and ERC20 token for both Android and iOS.
He decided to develop the Trust Wallet. In 2018, the Trust Wallet platform was acquired by Binance for an undisclosed amount. He still works fully with the Binance team in the development of the platform and the overall team consists of roughly 20 workers. However, the information of these 20 workers remains undisclosed to the general public and people believe they often have roles overlapping with one another.
What is Trust Wallet Token (TWT) used for?
Holding TET confers voting and governance rights on the holders. They get the chance to proffer solutions to underlying issues and vote them into existence.
The Trust Wallet is a high-performance blockchain platform that offers users versatile features to use. Users can Invest, make payments, and use decentralized applications.
Medium of Exchange
TWT can be exchanged for a corresponding amount of digital assets, stablecoins, virtual currency, or any cryptocurrency token.
The token allows their token holders and investors to engage in in-app transactions.
Community members get to hold rights in decision-making and can update or remove existing protocols by holding the TWT.
What Makes Trust Wallet Token (TWT) Unique?
Although the Trust Wallet Token is a utility token developed solely for the Trust Wallet mobile and desktop application to serves as an additional monetary value, it still supersedes this use.
Being a BEP20 asset and having no other value outside the Trust Wallet platform, the Trust Wallet Token can be moved or transferred to other wallets that accept BSC assets. It can also be exchanged for a corresponding value of other digital assets or fiat currency and can also be used to pay for services on and off the Trust Wallet platform.
Also, holders of the token are immediately conferred voting rights equal to the amount of token held and can ascertain governance of issues and development partaking to the development of the Trust Wallet platform.
Due to being one of the first tokens developed by the Binance Smart Chain, the Trust Wallet Token has little network fees and an instantaneous transaction time.
How Many Trust Wallet Token (TWT) Coins Are There in Circulation?
Although the Trust Wallet Token has a circulating supply of 346,951,186 TWT and a maximum supply of 1 billion TWT.
How Is the Trust Wallet Token Network Secured?
Since the Trust Wallet Token is BSC-based, it is backed by the Proof of Stake (PoS) consensus system. The Proof of Stake (PoS) consensus MEC is designed to protect the ecosystem from several potentially Jack’s and threats ranging from the 51% and Sybil attack.
For increased protection, the Trust Wallet platform has announced a bounty program fully founded by Binance to fund anybody who can discover the vulnerability of the platform on Binance Smart Chain and its corresponding smart contract.
For mobile apps users, their Trust Wallet Token is secured by the inbuilt security of the wallet which ranges from a stings security lock using a passcode known to the user only and a 12-word recovery phrase systematically arranged.
How do I buy Trust Wallet Token (TWT)?
Unlike other digital or financial markets, the cryptocurrency market does not sleep and the Trust Wallet allows users to equally navigate through this ever-active market. It has a built-in Web3 browser that allows its users to explore through Decentralized exchange platforms safely and seamlessly.
The Trust Wallet Token can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy TWT through your trading account.
Which Cryptocurrency Wallet Supports Trust Wallet Token (TWT)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Trust Wallet Token (TWT). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their TWT wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.