Trust Wallet (TWT)

Payments

Trust Wallet Token (TWT) can be used to make payments within the Trust Wallet ecosystem and beyond, including trading pairs on Binance and decentralized exchanges (DEX).

Discounts and Fees

Holding TWT gives users discounts on fees for various services inside Trust Wallet, making transactions cheaper.

Staking and Rewards

Users can stake BNB and other assets in Trust Wallet to earn TWT as rewards. Different staking periods offer different annual percentage yields.

Trading

TWT can be used for trading on Binance and DEX platforms, providing liquidity and utility for token holders.

Multi-Chain Support

Trust Wallet supports many cryptocurrencies, tokens, and NFTs across multiple blockchains, allowing users to manage diverse digital assets in one place.

Pros

• Supports over 100 blockchains and more than 10 million digital assets, including ERC-20 and NFTs.
• Non-custodial wallet, giving users full control over their private keys and funds.
• User-friendly and intuitive interface, suitable for beginners and experienced users.
• Built-in Web3 DApp browser for easy access to decentralized applications.
• Allows staking of cryptocurrencies to earn rewards.
• Open-source software, which means its code can be reviewed by the public.
• Compatible with multiple mobile platforms and also available as browser extensions.
• Easy interoperability with Binance exchange for seamless transactions.

Cons

• Does not offer two-factor authentication (2FA) for extra login security.
• Limited customer support with slower response times reported.
• No built-in feature for buying cryptocurrencies directly within the wallet.
• Can experience delays or higher transaction fees during network congestion.
• Not a hierarchical deterministic wallet, which some users prefer for key management.
• The large number of supported assets might be confusing for new users.
• No desktop application; primarily designed for mobile use.

Overall, Trust Wallet is a versatile and easy-to-use wallet with wide asset support and strong user control, but it lacks some advanced security features and customer support options.

Founders

Trust Wallet was founded by Viktor Radchenko in 2017. He is the main person behind creating the wallet and served as its CEO before stepping down to focus on other projects.

Additional Information

The project started with the goal to simplify and democratize crypto, making it easy and accessible for everyone.

Investors in Trust Wallet

Trust Wallet has raised funding from 4 institutional investors. Some of the known investors include TrustVC, 8 Decimal Capital, 3n Capital, and BitValue Capital. The wallet was also acquired by Binance in 2018, which is a major backer of the project.

Halal Status of Trust Wallet

• Yes: Trust Wallet is considered halal because it is simply a tool to hold and manage cryptocurrencies. It does not involve interest (riba) or prohibited activities. Users have full control over their funds and private keys, which aligns with Islamic finance principles.
• Reason: It acts as a decentralized wallet where you store your crypto assets without engaging in forbidden transactions, making it compliant with Shariah guidelines.