Binance has a new official cryptocurrency wallet for its users and it is called Trust Wallet. The company behind Trust Wallet has been working to offer a secure, anonymous, multi-currency and easy to use crypto wallet for users. Which are the main features of this digital currency wallet?
Trust Wallet Review
Nowadays it is very important for crypto users to have a reliable crypto wallet that offers services to holders, traders and investors alike. Mobile wallets tend to be very user friendly and have an easy-to-use interface.
Back In July 2018, Binance decided to acquire Trust Wallet to provide better services and enhance safety for users. During the time Trust Wallet was acquired, it supported Ethereum (ETH) and other Ethereum-based tokens such as ERC-20, ERC-223 and ERC-721 coins. But now, the list is way more bigger.
Due to the fact that the firm has been operative since November 2017, they were able to build their reputation for security and were also able to protect users’ funds. The company will never request access to users’ wallets, hold their private keys or ask for private information. This shows that the company has built the best standards in the industry.
After being integrated into Binance Trust Wallet adds an on-chain mobile wallet to the exchange and it will clearly work in the future with other integrations.
Binance wrote at that moment:
“As a technology driven company, Binance’s acquisition of Trust Wallet shows the importance of secure wallet technology for the future development of cryptocurrency as a whole.”
Users can download the wallet directly from the Google Play Store and Apple’s App Store. There are many digital assets currently supported by the wallet, including Bitcoin (BTC), Bitcoin Cash (BCH), Callisto (CLO), Dash, Ethereum (ETH),Ripple (XRP), Ethereum Classic (ETC), GoChain (GO), ICON (ICX), Litecoin (LTC), POA Network (POA), TomoChain (TOMO), Tron (TRX), VeChain (VET/VTHO), Wanchain (WAN), XRP, ZCash (ZEC), and Zcoin (XZC).
Trust Wallet provides enhanced security features that help users protect their crypto-related holdings. Users’ private keys are not stored on any server. Instead, the firm stores the funds locally on users’ devices.
Users can also restore their funds. There is an option that allows users to back their wallet up and encrypt all the information for when it is needed. Individuals can also add a wide range of biometric market authentication systems to the wallet, including PIN and fingerprint scanning.
Thus, the two main features offered by Trust Wallet are related to its security and a large number of tokens that are supported. Indeed, Trust Wallet supports almost all types of ERC-20 tokens, which is very useful for those users that have participated in different Initial Coin Offerings (ICOs).
Trust Wallet gives users control over their private keys and completely preserves users’ anonymity, which is very important for crypto enthusiasts in the space. At the same time, the wallet is already integrated into exchanges such as Coinbase, Shapeshift and also Changelly, making it easy for users to purchase digital assets.
The digital currency wallet has been created having security and usability in mind. These are two important things for investors and crypto enthusiasts. Trust Wallet has also integrated the Web3 Browser that allows individuals to interact with decentralized applications (dApps) directly from the application. In addition to it, Trust Wallet will also work seamlessly with Binance DEX, which will allow customers to make instant trades on the decentralized exchange.
Binance is trying to develop a DEX that will make its platform more decentralized. Users will also have control over their private keys. How they will integrate the Binance Coin (BNB) to the wallet remains to be seen. However, this shouldn’t be a problem for Trust Wallet. Binance Coin is an ERC-20 digital asset that is expected to be running on its own blockchain as soon as this year.
Trust Wallet has proven to be a secure and easy-to-use cryptocurrency wallet for both investors and enthusiasts. The wallet has received support from Binance when the company decided to add support to the digital asset. With many different wallets in the market, Trust Wallet shows that it focuses on privacy, security and usability for users to have a better experience while using the application.
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