What is Trust Wallet Token (TWT)?
Trust wallet Token is a BEP-20 token. Trust wallet is a noncustodial hot wallet to store crypto. BEP tokens are a Binance Smart Chain standard token that incentivizes Trust wallet users. Unlike centralized wallets, users can gain access to assets and dApps through Trust Wallet without having to log in to different software. TWT is a utility token in the Trust wallet ecosystem. The TWT tokens revolve around two main utilities which are governance and user rewards. According to the founder of Trust Wallet Token, the main purpose of the asset is to create awareness around governance, community voting, and instill a sense of ownership in users towards Trust Wallet.
Who are the founders of Trust Wallet Token?
Viktor Radchenko is the founder of Trust Wallet Token. Based in California, USA, Viktor co-founded Trucker Path in 2013, the firm behind popular truck and logistics apps. After his liaison with truck logistics apps, he worked on an open-source crypto wallet.
Binance acquired the TWT project in 2018. Viktor Radchenko continues to work with the Binance team. Trust wallet is the official wallet of Binance.
How does Trust Wallet Token work?
Trust Wallet Token extends governance to TWT holders by allowing them to participate in the voting process on important developments on the Trust Wallet app. These developments include software updates and new features.
TWT holders can get privileged access and discounts in crypto investments made via the Trust wallet. Users can earn TWT tokens by completing tasks that may include quizzes, referral campaigns, trading staking crypto assets, and other in-app tasks.
The TWT token is secured with a Proof of Stake consensus mechanism. PoS is applied to keep the tokens safe from 51% attack and other Sybil attacks.
Trust wallet is a mobile native crypto wallet that offers access to a wide range of crypto assets. Users can get access to a plethora of blockchains under one wallet. The wallet acts as a bridge that connects to a multitude of blockchain projects.
Key Attributes of Trust Wallet Token
Swap TWT for other assets: Users of Trust Wallet can receive TWT rewards by completing certain in app tasks, making crypto purchases, participating in quizzes and referral programs. The accrued TWT tokens can be swapped for other crypto tokens on the Trust wallet app. Users can get access to the top crypto tokens through Trust wallet.
Governance: TWT holders get to upvote or vote against proposals laid for wallet developments. This offers a sense of ownership with TWT rewards.
In app discounts: Users can use their TWT rewards to get discounts on crypto trades, purchases and swaps.
In built dApp browser: A centric feature of Trust wallet is the in built dApp browser that allows users to interact with dApps vetted by the development team. This means a user can check out dApps like Opensea and others without having to log in or log out to interact with these platforms.
NFT support: A unique feature of Trust wallet, users can store NFTs of token standards like ERC-721, ERC-1155, and its BEP equivalents.
Staking and Swapping inbuilt: Trust wallet offers the perks of a Decentralized Exchange within a compact software. Users can swap, stake their assets, and access different Automated Market Maker to get quality crypto trading and investing services.
Ease of fiat and credit card payments: Users can pay via credit or debit cards, Google pay, Apple pay and bank transfers for any of the 40 listed crypto assets.
How to buy Trust Wallet Token (TWT) in India
Use this three-step process to buy your first Trust Wallet Token using the CoinDCX crypto investment app
- Sign Up for the CoinDCX account: Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.
- Verify the account: You need to complete your KYC, to buy TWT on the CoinDCX platform. All you need to do is upload the documents and your account will be set up in 15 minutes.
- Buy TWT: After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!