What is Trust Wallet Token (TWT)? How it Works & Where To Buy It

Trust Wallet Token (TWT) is a BEP-20 utility token that can be used for a number of services on the Trust Wallet platform. Trust Wallet Tokens can be obtained on the Trust Wallet website or through an exchange on another crypto exchange site.

Those who invest in TWT can take advantage of Trust Wallet’s decentralized exchange (DEX) services and in-app cryptocurrency purchase discounts. The Trust Wallet website itself acts as a crypto wallet that can be used for exchanging a number of crypto assets, including NFTs.

 

How Trust Wallet Token Works

Trust Wallet Token (TWT) is based on the Binance Smart Chain (BSC) and can be bought or traded. It’s also possible to earn Trust Wallet Tokens on the TWT platform in the form of a reward. To attain these rewards, you need to complete tasks such as completing referral campaigns and quizzes or staking cryptocurrencies.

You can buy, sell, and trade Trust Wallet Tokens on the Trust Wallet app. This app is available to both iPhone and Android users. The Trust Wallet app is designed around supporting TWT (i.e., a coin based on the Binance Smart Chain). However, it can be used to manage other cryptos, such as Ethereum-based coins as well as NFTs (non-fungible tokens).

The Binance Smart Chain was introduced by Binance to allow for programmability and interoperability on the Binance smart chain. Trust Wallet Tokens were one of the first cryptos to appear on this chain.

The Proof of Staked Authority is leveraged by 21 validators, which allows TWT to be traded for very low fees.

Interestingly, a Trust Wallet token only holds value as a utility token on the website – it has no monetary value outside the website.

 

What Is Trust Wallet Token (TWT) Used For?

Once you’ve attained a Trust Wallet Token you are allowed to participate in governance activities such as votes that determine the future and direction of the Trust Wallet app and service. Plus, users will receive benefits such as discounts on any in-app purchases that they make.

To go into more detail, the main use cases of Trust Wallet Tokens (TVTs) are as follows:

• Pull requests payment – If you want to submit a pull request to the Trust Wallet Asset Repository, you can use Trust Wallet Tokens.
• Staking – If you’re looking to make passive income through your cryptocurrency assets, you can stake a Trust Wallet Token on Decentralized applications (DApps). You can also deposit these tokens to a decentralized exchange pool.
• Governance – First and foremost, Trust Wallet Token is a governance coin. That means that anyone who owns one has some degree of governance over the company. Once you acquire a TWT, you can gain access to the Trust Wallet Governance Portal. Here, you can take place in votes that determine the future of the company and app.
• Discounts – If you own a Trust Wallet Token, you can gain exclusive discounts on DEX services as well as on crypto products that are for sale on the site.
• Fee waiving – The fees for the crypto may be waived completely when you buy and sell crypto on the TWT platform.

 

Where To Buy Trust Wallet Token (TWT)

Besides the Trust Wallet ecosystem, you can find a TWT token supply on a variety of different crypto exchange sites. Being part of the Binance Smart Chain, you can find Trust Wallet Tokens on the likes of Binance. Other sites that you’ll be able to find TWT on include SimpleSwap, Coinbase, KuCoin, and Crypto.com.

On these sites, there is a range of crypto types that you can exchange Trust Wallet Tokens with, including Tether (USDT), Binance Coin (BNB), and Bitcoin (BTC).

Since being taken over by Binance, the Trust Wallet Token is available both in BEP2 and BEP20.

 

FAQs About Trust Wallet token (TWT) Metaverse

How long has Trust Wallet Token (TWT) existed?

Trust Wallet Token (TWT) as a platform has existed since 2017 when it was launched by Maxim Rasputin and Viktor Radchenko. The company was initially independently run but was quickly taken over by Binance in 2018. Radchenko remains the CEO of Trust Wallet Token.

Trust Wallet Token is based in Mountain View, California, and consists of a small team of 20 individuals.

What’s controversial about Trust Wallet Token (TWT)?

There’s nothing majorly controversial about Trust Wallet Token. Being on the Binance chain, it is a reliable coin since Binance Smart Chain is highly credible.

One of the main points of controversy is to do with the Trust Wallet itself. If you use the Trust Wallet Token app to buy and store your TWT token supply, then you’ll have to use the site’s software wallet. Although wallet users haven’t suffered from a hack in a few years, this online means of storing crypto still comes with a degree of risk.

Software wallets are far riskier than hardware wallets, as they are stored online where they may be subject to hacking. Software wallets basically refer to any type of wallet that is stored online in hot storage. It is safer to have a wallet installed onto your hardware in what is known as cold storage.

How many Trust Wallet Token (TWT) tokens are there?

As of October 2022, there are 416.65 million Trust Wallet Token coins in circulation. Like any coin, this will continue to grow exponentially, especially when there are so many ways for Trust Wallet users to earn TWT tokens on the app.

The maximum supply of Trust Wallet Tokens is one billion. So, nearly half of all the available Trust Wallet Tokens are now in circulation. This is a big step up from 2021 when just a quarter of TWTs was in circulating supply.

There are almost no original Trust Wallet Tokens left in the circulating supply. When Trust Wallet Token became part of the Binance Smart Chain assets, 99% of the original TWT token supply was destroyed and new Binance chain tokens were given out.

Can Trust Wallet Token (TWT) be mined?

Trust Wallet Tokens cannot be mined.

However, you can earn passive income through alternative means on the Trust Wallet Token website. You can use it for NFT farming as well as for staking.

What is the market cap of Trust Wallet Token (TWT)?

The current market cap of Trust Wallet Token is USD 369.32M.

As with any crypto market cap, this figure is subject to change as the market fluctuates.

This also applies to the current price of Trust Wallet Token (TWT). Currently, a single TWT is worth $0.9014.

 

Biggest Competitors Of Trust Wallet Token (TWT)

It’s difficult to pick out competitors for Trust Wallet Token (TWT), as the crypto coin has little monetary value outside the context of the app. TWT tokens unlock specific features of the Trust Wallet app, but they don’t hold any value outside of the app the same way that Bitcoin and Binance do.

The Trust Wallet app itself has plenty of competition in terms of mobile cryptocurrency wallet industry alternatives, including the likes of Guarda, Argent, Trezor, Exodus, and Edge. However, Trust Wallet Token (TWT) does have its own cryptocurrency, which many of the other crypto wallet apps don’t provide.

 

What Are The Future Plans For Trust Wallet token (TWT)?

Professional forecasts for the future of Trust Wallet Token are generally positive. Although no huge value increase is expected, the value of the crypto is unlikely to decrease. On top of this, TWT is a good crypto to invest in if you’re looking for a crypto wallet software to invest in and have some degree of governance over.

As we’ve already stated, nearly half of the Trust Wallet Token total supply is currently in circulation. The remaining half is in storage and will gradually be issued out to new and old customers over time.

Only around 15% of the remaining supply will be given out to the current Trust Wallet community. 40% is in reserve for new user acquisition. The remaining token supply will be held in reserve and given out to developers as necessary.

 

Pros And Cons Of Trust Wallet Token (TWT)

Pros

• Low trading fees for Trust Wallet Tokens. This is helpful, as Trust Wallet Tokens are not worth much.
• Easy to sign up for Trust Wallet and trade TWT coins. Unlike many other crypto trading sites, Trust Wallet users do not need to provide KYC verification to set up an account. As soon as sign-up is complete, users can invest in TWT and other cryptos.

Cons

• Trust Wallet users can’t mine for TWT.
• The TWT mobile cryptocurrency wallet is a software wallet, which is less secure than hardware wallets.

https://coinmarketcap.com/alexandria/article/what-is-trust-wallet-token-twt-features-tokenomics-and-price-prediction

https://coinmarketcap.com/currencies/trust-wallet-token/

https://morioh.com/p/3e98eddcfd96

https://swapspace.co/price-predictions/twt

https://www.reddit.com/r/trustapp/comments/rpryv2/twt_everything_about_trust_wallet_token/

https://messari.io/asset/trust-wallet-token/profile/technology