Why Are You Not Using Trust Wallet Yet?
This was a question I kept asking myself over and over again until I finally downloaded the Trust Wallet a number of weeks ago. I make use of a lot of wallets and storage facilities so as to spread my Crypto over a very large network of services. This is to minimize risk and also means that no single wallet or address is holding any significant amount of assets at any given time.
I have been really impressed with the quality and services provided by this particular wallet and am beyond glad that I finally decided to download it. After writing "Skip High ETH & BTC Fees By Using This Technique", I started making use of BEP2 tokens quite a bit. Putting BTC, ETH or any other ERC20 token onto a pegged BEP2 token became the obvious solution to excessively high transaction fees.
Think about it, being able to send BTC or ETH for a fee of 4c! That is pretty awesome by any means! The only catch is that in order to sell those assets I need to sell them on Binance.
For most people this would not be considered an issue because they are already making use of Binance. What is the difference if I sell on Binance or Kraken? Either way I have to send it to an exchange but saving tons in transaction fees, that's a different story. BEP2 tokens are a game changer and can literally enable you to send any top coin or token for almost zero cost!
The Two Wallets On Trust
After downloading the Trust Wallet you will notice that you can create or import 2 different wallet types. Firstly, there is the Multi-Coin wallet that has all your usual coins and tokens that you will find on most wallets such as Atomic Wallet. This is the standard wallet where you would receive BTC, ETH etc on their own chain, where standard fees apply.
Then you are also able to create a BEP2 Wallet, where you can store and trade leading Cryptos that are put onto the Binance chain. They are pegged 1:1 to the original coin or token, so there can be no loss of value. Obviously, staking can only be done on the main chain via the Multi-Coin Wallet.
There are a number of coins available for staking but I am personally more interested in the BEP2 side of things as well as the in-house DEX!
Do Your Trading In Your Own Non-Custodial Wallet
This is the aspect I enjoy the most about the Trust Wallet! If you have ever made swaps or done purchases in Atomic Wallet, you would have noticed that it is a bit on the pricey side, while utilizing the DEX in the Trust Wallet is extremely cost efficient. Fees are barely noticeable and are similar to trading on the Binance centralized exchange.
I don't use the swap feature because you are at the mercy of where the order book is at the time of your transaction. I prefer to set my order at the price I am happy with and then wait for the execution. All traders should find ways to do as much trading on DEX's as possible, to minimize risk and hold coins as apposed to exchanges holding your coins.
Overall I find this to be a very nifty and incredibly useful wallet that I hope to get much use out of into the future. I know the Binance DEX has not received much attention but I think it has more to offer than people may realize.