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How to Use Trust Wallet? A Detailed Guide

13 Sep 2022 By : Rohit Khandelwal
Southeast Asia’s Lar

Key Takeaways

  • Trust wallet is a hot wallet that is backed by Binance and is used to secure funds, trade, and access DApps. 

  • Basically, it acts as a secure gateway to the crypto world. 

  • While relatively secure from traditional digital wallets, hot wallets like Trust Wallets are not designed to store funds for a long time. 


Trust Wallet is a mobile crypto payment and storage app. It lets users store their digital currencies safely and securely. If you own any cryptocurrencies, you need a secure place to keep them. With this in mind, we’ll explain how to use Trust Wallet so you can safeguard your digital coins. If you’re new to cryptocurrency wallets, you might be wondering what they are and how they work. Read on to learn more about the various types of wallets and understand which one is right for you.

What is a cryptocurrency wallet?

A cryptocurrency wallet is a digital solution where you store your coins. It acts like a regular wallet; you put money in it and store it. But instead of paper money, you store crypto assets in a digital wallet. It’s important to know that digital wallets don’t contain your coins. A wallet is more like a bank account that lets you make transactions, store assets, and access information.

How to use Trust Wallet?

If you have to store your ETH, ETC, TRX, or other ERC-20 and BSC tokens safely, then you need to use Trust Wallet. It’s a smart Ethereum wallet that supports both ETH, and ETC chains along with several Binance chains. Ethereum is one of the most popular cryptocurrencies, and it’s what many ICOs use for their tokens. If you want to store your ERC-20 tokens in one place, Trust Wallet is a good choice. If you’re new to Trust Wallet, here’s how to set it up: 

Get a Trust wallet:

If you don’t already have a Trust Wallet account, you can create one by tapping “get a wallet.” Trust Wallet is free to download and use. 

Create a password: 

Before your wallet will let you in, you need to create a password. This is important because having a password on your wallet is how you keep other people out. Trust uses advanced encryption to keep your information safe, but it’s always better to be safe than sorry. 

Add a Wallet Address: 

A wallet address is like a bank account number. It’s how other people send you money or vice versa. Trust Wallet is an Ethereum wallet, so you can add an Ethereum wallet address. That said, you can add other coins’ wallets as well.

How to add coins to Trust Wallet?

You can add any ERC-20 token to Trust Wallet. But before you add them, you need to transfer them from your exchange to your wallet. Most exchanges don’t allow you to store coins there. So to own them, you need to send them to your digital wallet. To add coins, tap the + icon in the top right corner of your wallet. A list of supported currencies appears. Tap the one you want to add and follow the instructions to complete the process. Trust Wallet lets you add many different coins, such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), TRON (TRX), and many others. It’s important to select the correct token. Trust Wallet is a hot wallet, which means it’s best for keeping small amounts of money for daily use. You don’t want to store large amounts of coins in a hot wallet.

Security features of Trust Wallet

One of the best features of Trust Wallet is its security. It offers two-factor authentication (2FA). This means that anyone trying to log into your wallet with a username and password will also need another piece of information to get in. The most common type of 2FA is an authentication code sent to your phone. This means that someone trying to log in to your account will need both your phone and your password. Trust Wallet also offers a feature called Trusted Friends. This lets you assign certain people the power to log into your account in an emergency. You can also revoke this access at any time. In addition to these features, Trust Wallet gives you full control over your private key. This is the piece of information that lets you transfer your assets from one wallet to another. You can export your private key at any time. This is a good idea if you’re moving a large number of coins to another wallet. You can then import your private key to the new wallet and keep your assets safe.

What not to do with hot wallets like Trust wallet

Hot wallets refer to the fact that they’re connected to the internet. Since they’re connected to the internet, they’re more vulnerable to hackers. Trust Wallet is a hot wallet, which means you shouldn’t store large amounts of coins in it. Instead, you should store a few coins to use for daily transactions and store the rest in an offline wallet. You can still use Trust Wallet to store small amounts of coins for daily use. But you should always remember to transfer large amounts of coins to an offline wallet. Trust Wallet is designed to let you make transactions quickly and easily. It’s not designed to store large amounts of money. Therefore, if you want to store large amounts of money in a wallet, you should choose an offline wallet like a paper wallet or a hardware wallet.

FAQ - Most asked questions about Trust Wallet

  • Why does my Trust Wallet say “out of service”? 

This can happen for several reasons, depending on the nature of the outage. If the app has run out of tokens, you’ll see a notice asking you to add some. If the app has run out of ETH, you’ll see a notice asking you to add some. If there’s a network issue, you’ll see a notice asking you to wait a few seconds or try again. If there’s a server issue, you’ll get a “Service Outage” message. 

  • How do I restore my Trust Wallet? 

If you’ve lost access to your wallet and have no way to log in, the first thing you should do is try to log in with your username and password. If that doesn’t work, you can use the reset feature: go to https://www.trustwallet.com/help/lost-password/ and follow the instructions. 

  • Why does my Trust Wallet say “insufficient funds”? 

This can also happen for a few reasons. You might have an incorrect address. You might have an incorrect amount. Or you might have a network issue. If it’s a network issue, wait a few seconds or try again. If it’s an address issue, try finding your address on a different browser or computer. If it’s an amount issue, double-check that you didn’t mistakenly type 500 when you meant 5000. 

  • How do I add a custom token to Trust Wallet? 

To add a custom token, tap “+”, then “Custom Token”. Fill out the fields and you’re good to go! Some tokens may require you to add a contract address, a URL, or other fields. For these, you can use an online ETH token converter like https://ethconverter.com/.

Conclusion

If you’re looking for a secure place to store your cryptocurrencies, you need a wallet. Trust Wallet is an excellent choice, thanks to its strong security features and high-quality design. Trust Wallet is a convenient and easy-to-use wallet that allows you to store, send, and receive Ether from your iOS or Android smartphone. And with its built-in exchange, you can easily convert between different cryptocurrencies as well. So go ahead and download Trust Wallet today. It’s a secure wallet for storing your digital assets and making quick and easy transactions.

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