TWT: Trust Wallet token
Most people in the crypto world have heard about Trust Wallet at least in passing. However, not everyone realizes that this popular application has a native token – TWT. Today we will try to correct this misunderstanding and tell you about the coin.
What is TWT?
TWT or Trust Wallet Token is, as the name implies, a token for the Trust Wallet application. In turn, Trust Wallet is a popular mobile wallet for storing, exchanging, or stacking dozens of different coins. It supports Binance Smart Chain, Ethereum, and Tron networks. The usual Bitcoin, Litecoin, Ripple and others are also available. In total, there are 53 blockchains and thousands of assets on the list.
TWT has quite a few useful use cases. For example, token holders can participate in votes to develop the wallet or receive discounts on transactions.
The Trust Wallet service was launched by Six Days LLC, run by Ukrainian developer Viktor Radchenko. But in 2018, Trust Wallet was bought by the cryptocurrency exchange Binance, which remains its owner even now.
The application is mobile, and is available to owners of smartphones running the two top operating systems – iOS and Android.
Where is TWT used?
Trust is the Swiss knife of the cryptocurrency world and can do just about anything. It supports:
- asset storage and exchange;
- stacking;
- DApp browser;
- NFT;
- purchase of cryptocurrency by card;
- market monitoring.
Not surprisingly, this monster has gathered an audience of 25 million users, almost catching up with MetaMask. For all that, the wallet remains non-custodial. Simply put, users are not required to “share” private keys with the company, which could give it access to customer funds. Nor do they have to upload their photos or fill out any forms.
Curiously enough, Trust has a separate wallet version for El Salvador. It’s called El Salvador Bitcoin Wallet. Not surprisingly, because a country where bitcoin is recognized as an official currency and closely integrated into everyday life needs the most advanced solutions.
So, what about TWT itself? TWT supports the Binance BEP20 standard, and is used to incentivize users and get them to vote on further development of the project.
Trust Wallet team
The creator of one of the most recognizable applications on the crypto market is Ukrainian Viktor Radchenko. While still a student, he headed the internet security department of Privatbank, the largest bank in the country. In 2011 he moved to the US, where he founded a couple of startups. One of them – Trust Wallet – in 2018 he sold to the cryptocurrency exchange Binance. After the deal, Victor stayed on the team:
Chips
Trust Wallet attracts attention for its multicurrency nature. The team estimates that the service supports 53 blockchains and over 1 million assets created from them.
The second trick is providing custodial-level services while maintaining custodiality. Simply put, you can buy crypto by card or enjoy other benefits without going through a verification process or sharing your data.
Investing in TWT
Of course, TWT has had its ups and downs. But overall, the coin is moving steadily upward. If in 2020 1 TWT was valued at $0.007 (yes, that’s less than 1 cent), now it is worth $1.25. Those who have been with crypto from the beginning are obviously happy with this return. After the drawdown, the currency is growing steadily again, approaching the maximum values. The maximum for TWT is still $ 1.5.
Where to buy TWT?
The most obvious choice is Trust Wallet itself or Binance services. Trust Wallet Token is also in demand on MXC. On Binance Smart Chain’s main DEX ecosystem, PancakeSwap, TWT is not supported by default, but it can be imported if desired.
