What is Trust Wallet Token (TWT)?
The Trust Wallet Token, or TWT, is the native token of the Trust Wallet, where it serves various unique roles and is used as a means to incentivize any user within the ecosystem.
More On Trust Wallet
The Trust Wallet mobile application is a multi-asset cryptocurrency wallet that grants users access to various virtual assets with a built-in decentralized exchange for Android users. Moreover, it was in 2018 that the wallet joined Binance’s ecosystem and is now regarded as the BSC’s (Binance Smart Chain) official cryptocurrency wallet.
The Birth of Trust Wallet Token
The history of the TWT token cannot be complete without mentioning the Trust Wallet itself, which began its journey way back in September 2017 by way of Viktor Radcheko, who became fascinated with the notion of storing and efficiently managing his numerous ERC-20 tokens.
Trust Wallet as a Storage Solution
Here, we will be looking at how Trust Wallet performs as a wallet, i.e., a store of value.
The Security Tech Behind Trust Wallet
Trust Wallet prioritizes the security of its users by providing them with private key storage, recovery, and backup options, all while adhering to the latest standards in wallet security, such as the utilization of cold wallets in contrast to hot wallets, and more.
Trust Wallet’s Compatibility With Blockchain
According to its own words, the wallet supports more than 10 million assets across over 70 blockchains. In other words, it should support most of the leading networks out there.
Trust Wallet Token’s Technical Specifications
Here, let’s dive a bit into the technicalities underlying the TWT token and how it fits into the features already being offered by Trust Wallet.
How TWT Integrates with Trust Wallet’s Features
Other than that, it can be used as a payment for submitting pull requests, incentivizing developers, and serving as an integral part of its bounty programs.
Smart Contract Functionality in TWT
The token can also be described as a BEP-20 asset designed to offer value to users within the Trust Wallet ecosystem. Consequently, it’s built on the BSC (Binance Smart Chain), which is a blockchain-based network specifically made for smart contract-based cryptocurrency projects. So, despite its primary purpose, it may also be utilized for payments for services or traded with other cryptocurrencies.
Trust Wallet Token for Developers
As alluded to earlier, the TWT token can be used to encourage all of Trust Wallet’s users, and this includes developers.
TWT Versus Other Utility Tokens
Here, we will go over what sets this token apart from some of its competitors.
Unique Selling Points of TWT
While the utility it may provide is pretty much standard and hardly differs from what other native utility tokens can do, the fact that it is a part of the go-to wallet on the BSC may turn things a bit in its favor, particularly as an investment tool. Besides that, the prospect of it being exchangeable with the countless tokens or assets that the Trust Wallet supports, in conjunction with the staking rewards, can be enticing as well.
Competition Analysis
According to CoinMarketCap, it is one of the top 100 tokens by market capitalization, which means that it is not that far behind some of the top tokens out there, like BNB, ETH, or BTC.
TWT’s Investment Potential
Here, we will be discussing the TWT token’s potential as an investment, or whether or not it may be worth looking into.
TWT’s Past Performance Analysis
Interestingly, the token reached its all-time high in late 2022, during the peak of the cryptocurrency bear market and the FTX collapse, finally breaking that $2.5 mark. While it did fall off a bit following that and went on to trade below $1 for a while, it has picked up steam lately and has passed that mark again.
Expert Predictions on TWT’s Future
While the token is more likely to break that $2 mark once more by 2025, making predictions beyond that is where things get a bit more speculative. Some of the more generous estimates have given it a price tag of over $40 by 2030; others, who are more conservative, maintain that its price will hover around $10 to $20 by 2028 or 2030. Either way, the token is expected by many to more than triple in value from what it’s currently worth.
The Economics of Trust Wallet Token (TWT)
Let’s now delve a bit into the tokenomics of the TWT token, along with a few other uses.
TWT’s Tokenomics Explained
The token is currently worth around $1.20 and has a market capitalization of more than $509 million, with a fully diluted valuation of more than $1.2 billion. As for supply, the token has a maximum supply of exactly 1 billion tokens, a total supply of over 999.6 million tokens, and a circulating supply of over 416 million tokens.
Using Trust Wallet Tokens
These tokens can be used both within and outside the Trust Wallet ecosystem, although they won’t be of much use outside. It can be exchanged for the numerous tokens to be swapped on Binance and on its native exchange, along with various other uses pertaining to governance, staking, and multiple incentivization schemes.
Acquiring Trust Wallet Tokens on Binance
If what has been said so far about the token has gotten you interested in acquiring it, then we’ll discuss how that may be done on Binance, the world’s largest cryptocurrency exchange out there.
Register on Binance
Like with any cryptocurrency, you will need to register for an account, and that can be done here through its official website. Simply click on the link below, which will take you there using a special Coin-Labs referral code. Once there, fill in all of the required details on the registration page, like your email address, password, etc.
Account Verification (KYC)
Here, the registration process should be followed by the verification or KYC process, as it’s a must if you wish to experience trading without any hassles, particularly in the form of withdrawal limits or limited access to services. So, after heading over to Binance’s verification page, enter in the details about your identity that are needed, and then provide some documentation evidence backing that up. Note that this may be divided into two processes, or “levels.”
Secure Your Binance Account
Binance already provides a ton of security features that you can use to amplify your account’s security, primarily on your end. These will likely include 2FA, biometric scanning, and more. So, navigate to its security page, click on the options you wish to use to secure your account, and follow the instructions that Binance will provide you with to set them up.
Deposit Funds into Your Binance Account
Depositing funds on your newly created Binance account can be done through the exchange’s deposit page. Once there, select a token you wish to deposit on Binance, choose from any of the supporting networks, and a deposit address should be generated. Paste this address, then, within the withdrawal field of your wallet or external exchange to initiate the transfer from there.
Execute the Trade
Once your deposit has arrived on Binance, you can use the funds to buy some TWT tokens through any of the various options Binance provides with regards to buying and selling cryptocurrencies on its exchange, including spot, futures, P2P trading, etc. Probably the simplest of them would likely be its convert feature, where you’re just swapping what you have already deposited for TWT. So, select an option that suits you and place your order or execute the trade.
Storing Your TWT Safely
After you have finally acquired what you want from this exchange, you can move on to withdrawing these tokens or storing them safely within a secure wallet. The Trust Wallet can also be a safe option, but others that are potentially safer would include hardware or cold wallets that store your funds offline, protected against the numerous threats that exist online.
Future Developments in Trust Wallet Token
While there doesn’t seem to be a roadmap of any kind regarding this token and any potential features later on, what is clear is that it will likely see greater adoption in the times to come as interest within the cryptocurrency landscape grows, primarily due to its integration with Binance.
Conclusion
The Trust Wallet is among the leading cryptocurrency wallets out there, offering a user-friendly experience filled with various features and competent security measures. Through multi-chain support, a user-centric approach, and seamless dApp integration, the Trust Wallet seeks to offer an all-in-one approach with regards to the management of digital assets, and underlying all that is the TWT token, which, more or less, powers the ecosystem.
Trust Wallet Token Basics
Here are some factors that investors should consider before investing in Trust Wallet Token.
Cryptocurrency Features | Trust Wallet Token (TWT) |
---|---|
Publisher or Developers | Viktor Radcheko |
Headquarters (Registration Number) | San Francisco |
Symbol | TWT |
Platform | Binance Smart Chain |
Published Date (CMC Registration) | 2024-12-01 |
Max Supply | No limit |
Reliability Score of Trust Wallet Token in 2024
These are indexes mesuring the investment reliability of Trust Wallet Token conducted by Coin-Labs.com.
Investment Reliability Rating Items | Scores and Current Status |
---|---|
Company Activation Rate | / 10.0 CAR |
Communication Rate | / 10.0 CR |
Technology Transparency Rate | / 10.0 TTR |
Development Participation Rate | / 10.0 DPR |
Listing Status on the World's Top 10 Exchanges | Listed on 4 Exchanges |
Number of Available Pairs Worldwide | 265 Pairs |
Market Cap of the Cryptocurrency | 468,126,855 USD (Rank #112) |
Trust Wallet Token Price
Here are the price and recent trading volume of Trust Wallet Token. (Data of 2024-12-02 03:40:00)
Price Items | Price and Trading Volume of Trust Wallet Token |
---|---|
Trust Wallet Token Price | 1.200 USD |
Price Change 24h | -1.87% |
Price Change 7d | 15.42% |
Trading Volume 24h | 35,253,707 USD |
Trading Volume Change 24h | 22.92% |
Cryptocurrency Metadata
You can check the development status and social media information of Trust Wallet Token through the links in the table below.
Metadata Source | URL |
---|---|
🌎 Official Website | https://trustwallet.com/ |
📖 White Paper | |
🛰️ Source Code (GitHub) | https://github.com/trustwallet |
https://twitter.com/TrustWallet | |
https://reddit.com/r/trustwallet | |
🎺 Message Board | https://trustwallet.com/blog |
Where to Buy Trust Wallet Token
Here are the top ten world crypto exchanges where traders can buy Trust Wallet Token in 2024.
Top10 Exchanges | Listed Status | Page URL |
---|---|---|
Binance | Listed | https://www.binance.com/en/trade/TWT_BTC |
Coinbase | Not listed | |
Kraken | Not listed | |
KuCoin | Listed | https://www.kucoin.com/trade/TWT-USDT |
Bitfinex | Not listed | |
OKX | Not listed | |
Huobi | Not listed | |
Bitstamp | Not listed | |
Bybit | Listed | https://www.bybit.com/trade/usdt/TWTUSDT |
Gate.io | Listed | https://www.gate.io/trade/TWT_USDT |
Frequently Asked Questions
What is the current price of Trust Wallet Token?
Trust Wallet Token price today is 1.200 USD. Furthermore, the price of Trust Wallet Token has fluctuated by -1.87% from 24 hours ago, and by 15.42% from a week ago.
Where is Trust Wallet Token listed?
Currently, it is listed on a total of 4 among the world top 10 exchanges.
What is the market cap of Trust Wallet Token now?
Currently, Trust Wallet Token has a market cap of 468,126,855 USD, which is ranking 112 among cryptocurrencies worldwide.
How much is the trade volume of Trust Wallet Token?
Currently, 416,649,900 TWT coins are circulating through 265 market pairs. As a result, in the last 24 hours, 35,253,707 USD of TWT coins were traded in the market.