Trust Wallet Token (TWT) is the Trust Wallet mobile app’s native utility token. Trust Wallet is a mobile crypto wallet that supports various native assets and tokens on multiple blockchains.
- Trust Wallet Token is a utility token used within the Trust Wallet app, a mobile cryptocurrency wallet that supports multiple blockchain platforms.
- TWT holders can access discounts on decentralized exchange (DEX) trades and in-app purchases, as well as participate in the governance of Trust Wallet.
- TWT can be earned by completing tasks within the Trust Wallet app, such as participating in referral campaigns and taking quizzes.
- TWT is built on Binance Smart Chain and uses a proof-of-stake consensus mechanism to protect the network.
TWT holders can access discounts on cryptocurrency purchases and DEX services within the app, as well as participate in the governance of Trust Wallet by voting on update proposals.
What is Trust Wallet?
Trust Wallet is a mobile cryptocurrency wallet that allows users to store and manage their digital assets securely. It supports multiple blockchain platforms, including Ethereum, Binance, and TRON, and offers support for a wide range of native crypto assets and tokens. In addition to providing basic wallet functionality, Trust Wallet also offers features such as a built-in decentralized exchange (DEX), staking, and a Web3 browser.
Trust Wallet Token (TWT)
TWT holders can access discounts on DEX trades and in-app purchases, as well as participate in the governance of Trust Wallet by voting on update proposals. Trust Wallet Token (TWT) can be earned by users by completing various tasks within the app, such as participating in referral campaigns and taking quizzes.
Trust Wallet has a strong focus on security, implementing measures such as biometric authentication, hardware-level protection, and secure key storage. The app offers a range of security features for users to customize accordingly, such as setting up a recovery phrase or enabling 2FA.
How does Trust Wallet Token work?
Trust Wallet Token (TWT) is a utility and governance token used within the Trust Wallet app. TWT holders can vote on major decisions related to the app, such as updates and new features. While TWT does not have any value outside of the Trust Wallet ecosystem, it can be used to receive discounts on cryptocurrency purchases within the app. To acquire TWT, Trust Wallet users can also complete tasks such as quizzes about the crypto space, referral campaigns, trading and staking cryptocurrencies, and other in-app tasks.
The Trust Wallet Token (TWT) is built on Binance Smart Chain and uses a proof-of-stake (POS) consensus mechanism to protect the network from potential threats such as 51% attacks.
In addition to these security measures, TWT is also secured by the security of the wallet software used to manage it. Trust Wallet includes a passcode security lock and a 12-word recovery phrase to protect TWT and other assets stored within the wallet.
Trust Wallet Token FAQ
Who created Trust Wallet Token (TWT)?
Trust Wallet Token originally launched as a BEP-2 token on the Binance Chain, but was later converted to a BEP-20 token on the Smart Chain in October 2020.
Viktor Radchenko founded Trust Wallet in 2017. Prior to starting Trust Wallet, Radchenko had worked in development and engineering roles at various tech companies and co-founded Trucker Path, a company that offers a popular app for truckers and logistics firms.
He began working on Trust Wallet after noticing that there were no open-source wallets available for Ethereum and ERC20 tokens in app stores.
In July 2018, Binance acquired Trust Wallet for an undisclosed sum, and Radchenko continues to work on the platform as part of the Binance team. Although the full team at Trust Wallet is not publicly disclosed, it is known to include over 20 individuals, many of whom also have roles at Binance.
What makes Trust Wallet Token (TWT) unique?
Trust Wallet Token provides additional value to users through voting rights and governance over the development of Trust Wallet, as well as discounts on DEX trades and in-app purchases.
While TWT does not have any utility outside of the Trust Wallet ecosystem, it can be transferred to any wallet that supports Binance Smart Chain assets and may be exchanged for other assets or used as payment for services. Trust Wallet Token was among the first launched tokens in the Binance Smart Chain.
What is the circulating supply of Trust Wallet Tokens (TWT)?
As part of the transition to Binance Smart Chain, 99% of the original TWT token supply was burned, and the maximum supply was set at 1 billion TWT, of which about a quarter is currently in circulation.
The circulating supply of Trust Wallet Token will increase over time as users earn TWT by completing tasks such as participating in referral campaigns, taking quizzes, and engaging in cryptocurrency staking and trading within the app. At the current time of writing (December 2023), the circulating supply of Trust Wallet Token (TWT) is 416,649,900.
How do I buy Trust Wallet Token (TWT)?
- Download the Trust Wallet app from the App Store/Google Play Store on phone.
- Create a new wallet or import an existing one. Simply follow the prompts in the app.
- Connect your wallet to BSC – Binance Smart Chain network. Go to the “Settings” tab in the app and click “Add Custom Network.”
- Find the “Buy Crypto” tab in the wallet and select “Binance Smart Chain” as your network.
- Choose the amount of TWT you want to buy and select a payment method. You can use a credit/debit card, or any other supported crypto.
- Review the details of your purchase and confirm the transaction. Trust Wallet Token price is determined by its current market cap and circulating supply.
- Once the transaction is complete, your TWT tokens will be added to your Trust Wallet. You can view your TWT balance in USD price by going to the “Assets” tab in the app and selecting TWT.