Trust Wallet is one of the most popular mobile cryptocurrency wallets, with millions of users around the world.
So why are so many people using Trust Wallet? There are several reasons for its popularity, including its ease of use, security features, and wide range of supported coins and tokens.
Whether you’re an experienced cryptocurrency user or completely new to the space, it is best to keep yourself informed about the most talked-about crypto platforms in the market.
Continue reading to find out how many people use Trust Wallet in 2022 and the benefits of using it when trading crypto.
How Many People Use Trust Wallet?
There are currently over 25 million people who use Trust Wallet. That number is increasing every day as more and more people realize the benefits.
It is the perfect choice for those who value security and privacy.
With Trust Wallet, you are in control of your own private keys which means no one can access your account except yourself.
It places a strong emphasis on having robust encryption protocols to ensure that your funds will be protected against theft at all times.
What is Trust Wallet?
Trust Wallet is a mobile wallet app based in Mountain View, California that allows users to securely store and manage their cryptocurrencies and non-fungible tokens.
After its successful launch in 2017, the platform gained an unexpectedly strong reception from investors which solicited the attention of the popular cryptocurrency exchange, Binance.
The latter acquired Trust Wallet in 2018, making history as Binance’s first acquisition since its founding.
Unlike many other wallets on the market, Trust Wallet gives users complete control over their private keys, meaning that no one can access your funds without your permission.
Additionally, Trust Wallet has built-in support for popular crypto exchanges, so you can easily buy and sell tokens and file customer queries when necessary.
Trust Wallet Daily Users
Trust Wallet is a popular mobile wallet app among cryptocurrency enthusiasts and investors.
According to recent statistics, over 1 million people use Trust Wallet on a daily basis to store and manage their crypto assets.
Trust Wallet’s Global Website Ranking
It boasts 4.8 million monthly website visits, with an average duration of 1.27 minutes per visit. Trust Wallet’s website ranks 14,877 globally.
Why People Use Trust Wallet?
In addition to its focus on user privacy and security, one of the main reasons that so many people choose Trust Wallet is its seamless integration with some of the most popular crypto exchanges on the market, particularly Binance.
This makes it easy for users to buy and sell different tokens directly within the app, as well as get help from customer support when necessary.
Overall, Trust Wallet is an ideal option for anyone looking for a simple, reliable way to securely store and manage their cryptocurrencies.
Advantages of Using Trust Wallet
A long list of advantages is a core determinant of how many people use Trust Wallet. We give you a list of its core advantages below:
- Allowing users to hold multiple cryptocurrencies at once
- Ease of use
- Free of charge
- Impressive security standards
- Compatibility with different platforms
- Supported by Binance which is one of the most trusted cryptocurrency exchanges globally
Disadvantages of Using Trust Wallet
No platform is perfect–every site has a section that needs improvement, and Trust Wallet is not an exemption.
- Although it holds a stellar security record, hard wallets remain dominant in terms of security and privacy protection
- Available only on the mobile app
- Limited Ethereum-based altcoins
Global Rankings of Trust Wallet Competitors
Aside from knowing how many people use Trust Wallet, knowing how its competitors are faring is also an important aspect to look for.
Here is how the site’s top three direct competitors are performing in terms of their respective websites’ global ranks:
- Metamask: Rank 9,236
- Gate.io: Rank 3,491
- OpenSea: Rank 362
Trust Wallet Alternatives
Below is a list of Trust Wallet alternatives and a brief comparison of their performance compared to Trust Wallet:
- Coinbase Wallet: charges higher fees
- MyEtherWallet: more suitable for institutional investors rather than retail investors
- Exodus: has a lower security rating
- Electrum Wallet: more expensive fees
- Atomic Wallet: offers a limited number of available cryptocurrency assets
Tokens Supported by Trust Wallet
Trust Wallet supports more than 160,000 crypto assets, including mainstream ones such as:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Dash (DASH)
- Ripple (XRP)
- Monero (XMR)
Meanwhile, it is also a home for emerging tokens with increasing popularity including:
- Nano (NANO)
- Aeternity (AE)
- Cosmos (ATOM)
- Algorand (ALGO)
- VeChain (VET)
Trust Wallet’s Unique Offerings
Aside from buying, selling, and staking cryptocurrency, Trust Wallet can also be used for browsing decentralized apps or dApps using the Trust dApp browser.
Each dApp is optimized for mobile viewing to ensure a better user experience.
Moreover, storing non-fungible tokens or NFTs is possible with Trust Wallet. It is compatible with holding ERC721 and ERC1155 NFTs.
How to Get Started with Trust Wallet?
Becoming a new member of this crypto wallet’s community involves very easy-to-follow steps.
Step 1: Download the Mobile App
As mentioned, Trust Wallet is only available using a mobile app that can be downloaded on Apple App Store, Google Play Store, and Android APK 6.0+.
Step 2: Fill in Personal Information
The sign-up process involves filling in your personal information and providing a seed phrase to ensure the maximum protection of your account.
Step 3: Deposit and Buy
Trust Wallet supports several deposit channels including bank transfers and debit/credit card payments, among others.
Once the account has been funded, you may now start buying digital assets!
There are a lot of available crypto wallets available in the market today.
More and more people are using Trust Wallet as their go-to platform as it is a secure, user-friendly digital wallet that allows you to store and manage multiple cryptocurrencies.
In this article, you have learned how many people use Trust Wallet and the site’s advantages versus competitors.
Despite its impressive credentials, cryptocurrency remains a high-risk investment regardless of the platform you use. Always trade with caution.