Trust Wallet - A short glance at its offered services
Are you looking for a good wallet to store digital assets with utmost security? But you are confused about what wallet would be a good choice. Then maybe today's blog will help you with it. In this blog, we will tell our users about the Trust Wallet and if it should be used or not.
Given below is the list of those features that a user can expect with the Wallet.
- Wallet is non-custodial
Users are the sole owners of their account, this means that the private keys, account passcode, secret recovery phrase, and everything is stored by the account holder only. Even the Wallet does not store these kinds of information in its system database.
- Supported Digital Assets
The wallet supports a less number of cryptocurrency coins but the ones supported are those which are widely used. The total number of cryptocurrencies supported by it is only 60 but there is no set limit on creating custom tokens.
- The process of Set-Up is easy
The process of creating an account with Trust Wallet is easy especially if using its mobile application. Though it does not mean that it's difficult to set up on a PC. You can even import your existing wallet with the help of Trust Wallet.
Pricing of Trust Wallet
A user can download and install Trust Wallet for free on his device. There are no separate charges in the name of Subscription charges of the wallet. For making any transactions or swaps by using the app, you are not required to pay any additional charge except for a network fee. But even the network fee is customizable.
Although if you purchase any cryptocurrency from the app you will be charged some percentage of fee. And that percentage of fees is 1% after the third-party exchanges have charged their fees. Though a user can waive this fee charged if they are in possession of 100 Trust Wallet native tokens. Not only its native token you can even hold some other tokens such as:
- SPL Tokens
And if you are thinking that the network fee charged by the wallet will be kept with them, then you are wrong. Because these fees are to be paid to Proof-of-Stake chains to verify your transactions and approve them. Sometimes a transaction might get stuck because of low network or gas fees. Therefore, it is advised to always pay the fees as per the amount of the total transaction so that it will be approved without waiting for a long period of time.
Summing it up
Just from one interface users can avail of many facilities such as interaction with decentralized applications, storing and trading of cryptocurrencies, staking of digital assets, and much more. Thus this wallet is one stop solution for every investor. An additional benefit of this wallet is that the traders can earn interest on their crypto assets stored in the wallet. And this feature is not yet introduced by any other Wallet present in the crypto world.