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What Is Trust Wallet? Key Features, Setup Guide, and Risks Explained

James Gathecha Avatar
James Gathecha

Trust Wallet has become one of the most popular non-custodial cryptocurrency wallets, allowing users to securely manage and interact with a wide range of digital assets. Available as a mobile app for Android and iOS and a browser extension, Trust Wallet supports Bitcoin, Ethereum, Solana, ERC-20 tokens, NFTs, and many other blockchain assets.

History of Trust Wallet and Binance Acquisition

Founded in 2017 by Ukrainian developer Viktor Radchenko, Trust Wallet began as a simple Ethereum token wallet. Just a year later, Binance acquired the project, integrating it into its ecosystem as the official on-chain wallet. Since then, Trust Wallet has expanded its capabilities to support over 10 million tokens across more than 100 blockchains and offers advanced features like staking, Dapp browsing, and fiat on-ramp integrations.

Also read: How Crypto Experts Spot 100x Coins Before the Crowd: Proven Methods & Tools

Key Features and Functions

Trust Wallet provides an extensive suite of features:

  • Multi-chain support: Bitcoin, Ethereum, Solana, NFTs, and many altcoins.
  • Dapp browser: Users can directly interact with decentralized applications (DeFi, NFT marketplaces, and more).
  • In-app staking: Stake popular cryptocurrencies and earn rewards.
  • Built-in swaps: Trade and swap tokens within the app via decentralized exchanges.
  • Security tools: Biometric authentication, passcode protection, and a security scanner for suspicious transactions.
  • Fiat integration: Buy and sell crypto with fiat through partners like Moonpay and Ramp.

How To Set Up a Trust Wallet Account

Setting up Trust Wallet is simple:

  1. Download the app from Google Play, App Store, or use the browser extension.
  2. Create a new wallet and securely save your 12-word recovery phrase.
  3. Enhance security by enabling biometric authentication and a passcode.
  4. Fund the wallet by purchasing crypto in-app or transferring from another source.

Risks to Consider When Using Trust Wallet

As a non-custodial wallet, Trust Wallet gives users full control of their funds—but also full responsibility. Losing the 12-word recovery phrase means losing access to the wallet permanently. Additionally, phishing scams remain a key risk; users should always verify that they are using the official Trust Wallet app or site.