Step-by-Step Guide: How to Use Trust Wallet

The CP Media team has covered in detail the evolution of Trust Wallet from a startup to one of the most popular tools for storing digital assets, with an audience of more than 70 million users. But crypto adoption is on the rise, so it might be helpful for Web3 newbies to have a clear step-by-step guide on how to use Trust Wallet’s core features. 

Registration on Trust Wallet

To start your journey with this tool, you need to register. The user has to download the Trust Wallet app from the official app store and then launch it on a mobile device. 

1. After launching the app, the user will be prompted to create a new wallet or add an existing one.
2. When clicking “Create new wallet,” the app will offer to protect the account with the backup.
3. When choosing the manual backup, the system will warn about the risks of insecure storage of the seed phrase and the consequences of losing it.
4. When clicking “Back up to Google Drive,” the system will prompt you to come up with a name for the file.
5. If you select “Add existing wallet” on the main page, the app will offer several options to restore the address. 

The app will generate a unique seed phrase — a set of words to access the wallet, which will need to be securely saved. The system will also offer to create a strong user password to protect access to the app and suggest options to set up access using TouchID or FaceID. 

After completing the registration process, the user will immediately be able to use all the features of Trust Wallet.

Buying Cryptocurrencies with Trust Wallet

One of the main benefits of Trust Wallet is the option to buy cryptocurrencies directly in the app. To do so, the user needs to:

1. Go to the “Buy” tab on the main page.
2. Select the desired cryptocurrency from the provided list or by using the search. 
3. Choose the currency to buy in the upper right corner.
4. The system will automatically display the minimum amount in the selected currency to be exchanged for the chosen asset. You can change this figure if necessary.
5. Select a convenient payment method.
6. Click “Buy.”

After that, the system will redirect the user to the page of the selected payment provider to finalize the transaction. The cryptocurrency will be automatically credited to the user’s wallet address after the withdrawal. 

Exchanging Cryptocurrencies with Trust Wallet

Another convenient way to get cryptocurrencies with Trust Wallet is to use the exchange feature. The user can exchange one cryptocurrency for another using the built-in exchange mechanism in the app. This provides a quick and convenient way to exchange different cryptocurrencies without the need to use third-party platforms.

To do this, you need to: 

1. Select the “Swap” tab on the main page.
2. Use the search or use the list to select the asset to be exchanged and the asset to be received in return. 
3. Enter the desired amount of the asset to be exchanged. The application will automatically calculate the price and the number of tokens that will be transferred to the wallet after the exchange. The information updates in real time.
4. You can also change the slippage tolerance. The rate is 1% by default.
5. Make sure that the required amount is available to cover fees. When clicking the “Approve” button, the system will show the commission amount and warn you if the amount of funds isn’t enough.
6. The app’s functionality also allows you to manually change the exchange settings by selecting the settings icon in the upper right corner and making changes to the desired parameters.

In case the funds are enough, the system will let you make a quick exchange. The asset will be exchanged within a couple of minutes. 

Receiving and Sending Cryptocurrencies with Trust Wallet

To send cryptocurrencies to another user via the wallet, you need to:

1. Click “Send” on the main page and select the asset you need to send from the list of available cryptocurrencies.
2. Enter the address of the recipient’s wallet and the desired amount. Click “Next.”
3. Verify the accuracy of the entered data. The system will automatically calculate the amount of fees the address needs to have for the transaction.

To confirm the transfer, the system will ask you to enter the password, and then the amount will be sent to the recipient. 

To receive the crypto transfer from another user, you need to:

1. Click “Receive” on the main page. Select the asset to be received from the list or by using the search.
2. The system will automatically generate a QR code with the cryptocurrency wallet address. It can be copied or sent directly from the app. 

To receive crypto, just send the generated address to the sender. Copy and send the cryptocurrency address that can be found on the same page under the QR code. 

Note: The generated address will vary depending on the blockchain network the cryptocurrency operates on, so it’s worth checking the address thoroughly before sending assets. All crypto transactions are irreversible!

Staking Cryptocurrencies with Trust Wallet

To start receiving passive income with cryptocurrencies, you can stake them directly through the crypto wallet app. There are two ways to do this:

1. Click the “Earn” button on the main page. Select the asset you want to deposit from the list. The system automatically displays the annual percentage rate (APR) for each cryptocurrency.
2. Choose the asset you want to deposit on the main page and click “Start earning.”

The procedure will then be the same for both options:

1. The system will display how many coins are available for sending and show the minimum lock time and APRs. You need to select “Stake.”
2. Enter the amount you’re willing to deposit.
3. You can manually select which provider to send the coins via. 
4. The system will automatically set up validation and generate the transaction. You will only need to click “Confirm” and enter your password.
5. Once the coins are staked, they will no longer be available for use. In the “Earn” menu of the selected coin, the “Active” panel will appear with data on the number of coins sent to a certain provider. To withdraw coins from staking, you need to click “Unstake,” enter the amount, and confirm the withdrawal. The reward data will be displayed in the same menu. 

We’d like to point out that Trust Wallet provides reliable protection of users’ crypto-assets due to modern encryption methods and the multi-level protection system. Moreover, the app is a non-custodial wallet, meaning that it gives users full control over private keys, providing a high level of security when using crypto, but also puts full responsibility on the user for the safety of the seed phrase.