If you are new to this cryptocurrency world or you are already an OG, it is very important to safely store your coins and tokens. You see, if you own multiple coins, you will have to install an app for each type of cryptocurrency. For example, if you want to manage your bitcoin wallet, you need to install official bitcoin app and so on.
The Trust Wallet solves all of these problems.
The wallet is available for iOS as well as for Android phones. You can also download the APK which is an installation file for android phones in case your phone does not come with play store pre installed.
You can use this wallet to store ethereum, ERC20 tokens like the Binance coin. You can also use to store Bitcoin, Dash, Tron, VeChain and so on.
This wallet is directly endorsed by Binance which is the world’s most popular cryptocurrency exchange.
So how to download and install Trust Wallet on your phone?
This step is very important as there may be knock off or fake apps out there which are made to steal your funds. So make sure you download the app from trustwallet.com.
Now, we will be creating a fresh wallet.
Click on the blue button that says create a new wallet. It will now ask you to backup your wallet.
This step is very important because if you do not backup your seed or private key, you can loose your funds.
Make sure you copy the recovery phrase and write it down somewhere.
Do not share this recovery phrase with anyone.
Ok, now I’ll be demonstrating how to send and receive cryptocurrency on your Trust Wallet.
This is the main screen of the Trust Wallet. Click on the Receive button to see your ethereum or ERC20 token address.
So, here you can send your ethereum or any ERC20 token. So, I’ll be sending half ethereum from my other device to this device.
I will be scanning my QR code.
So, there you go. I’ve received half ethereum. Now, I’ll be sending back this ethereum to the device. So, to send back this ethereum to device.
I will click on Send and then I will give app necessary conditions to use the camera.
Then I will scan the QR code of other device and I’ll send back the ethereum.
You can browse various DAPPs as well within the Trust Wallet.
So, what is a DAPP? DAPP is basically an application that is running on blockchain. You can use it in the Trust Wallet itself.
As you can see, there are many compatible DAPPs out there. There are useful utilities; there are exchanges and there are games as well.
I will be using Kyber Network DAPP to exchange some ethereum to buy some Kyber Network Crystal tokens – KNC tokens. So, I will input one ethereum – just to get an idea on how KNC tokens I will get.
As you can see, I will get around 900 tokens with one ethereum. So, if you want to swap your ethereum to KNC tokens, just click on Swap and it will take away one ethereum from your wallet and exchange it with 900 something KNC tokens.
It is easy as that.
So that is how to setup and use Trust Wallet on your phone.
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Kamal Singh is executive editor of CryptoCoinDaddy. He owns degree in Masters in Computer Applications and is behind many successful technology projects.