If you’re looking for a way to make money, you might be interested in using a Trust wallet. A trust wallet is a type of cryptocurrency wallet that allows users to keep their cryptocurrencies safe and secure and easily spend them. In this article, we will show you how to make money with a Trust wallet.
Free Airdrop on Trust Wallet 2022 Without Fee
Trust wallet is offering a free airdrop for its users in 2022. This is an excellent way to introduce new users to the trust wallet platform and increase its adoption rate. If you’re interested in taking part in the free airdrop, sign up for trust wallet today.
Here is a list of free airdrops on trust wallet in 2022 without any fees. If you are looking for a Trust wallet to hold your tokens, this is the right one.
- 0x (ZRX)
- Bitcoin Cash (BCH)
- Basic Attention Token (BAT)
- Dogecoin (DOGE)
- EOS (EOS)
- Ethereum Classic(ETC)
- Loom Network(LOOM )
- BNB (BNB)
How to Stake on Trust Wallet (Step by Step Guide)
Let’s examine how to register and begin staking with Trust Wallet. Here is a short manual to get you going.
Step 1: Open An Account With Trust Wallet
Start by downloading the app from the app store on your device. As soon as your download is complete, launch the app and select “create a new wallet” to begin.
Step 2: Set Up Trust Wallet
Setting up your 12-word recovery phrase is the next step. This serves as a backup password for your wallet that you cannot retrieve or modify. Keep your 12-word phrase in a secure place. Confirm the 12-word recovery phrase is spelled correctly to finish creating the Trust Wallet.
Step 3: Deposit Funds
You have various options for adding cryptocurrency to your Trust Wallet after it has been set up. You can purchase cryptocurrencies directly from the Trust Wallet Platform using a bank card and MoonPay, and the bare minimum is $50. Select the cryptocurrency you wish to purchase, then tap “Buy” to carry out the MoonPay transaction.
Step 4: Stake Cryptos On Trust Wallet
Finally, click the “Stake” button next to the cryptocurrency you’ve chosen. You will be taken to a page that displays your available coin balance, your staked amount, the minimum stake required, and the lock period.
Tap the “Stake” link, followed by the full amount you wish to stake. A default validator will be provided, but you can choose another by tapping on the validator section. When you see the summary of your staking order, click the blue Stake button to finish.
How to Withdraw from Trust Wallet (step-by-step guide)
Below is a step-by-step guide on withdrawing your bank account from Trust Wallet.
Step 1: Convert token(s) to BNB or ETH.
If the token you have on your wallet on Trust Wallet is not listed by Binance (which often is the case), you have to convert the token to either BNB or ETH, depending on the blockchain (Trust Wallet supports the Ethereum and Binance Smart Chain blockchains).
On Trust Wallet, click on the DApps browser and go to “pancakeswap. finance” (for tokens on the Binance Smart Chain) or “app.uniswap.org” (for tokens on the Ethereum blockchain) and connect your wallet. Bothe URLs are without quotes.
Select the said token as the token to be swapped from and either ETH or BNB as the coin to be swapped to (again, depending on the blockchain). Select BNB as the coin to be swapped if you’re on PancakeSwap (Binance Smart Chain), and select ETH as the coin to be swapped to if you’re on UniSwap (Ethereum Blockchain).
Note: If you swapped the token via PancakeSwap, you still need to convert Smart Chain (BNB) to Binance Chain Coin (BNB) on Trust Wallet before proceeding to the next step. To do this, click on your Smart Chain balance > More > SWAP TO BINANCE CHAIN, then input the amount of Smart Chain to convert and click [Swap].
Step 2: Create an account on Binance (or login) and copy your ETH or BNB wallet address.
On Binance, click on [Wallets] then [Fiat and Spot]
Click on [Deposit] beside the coin you want to transfer. For this guide, we will use BNB, but if you’re transferring ETH, click on [Deposit] in the ETH section.
Select the Binance Chain (BEP2) network if you’re transferring BNB and Ethereum (ERC20) network if you’re transferring ETH. Please note that transferring to the wrong network will result in a permanent loss of funds, so cross-check the network properly before proceeding with the transfer.
Copy wallet address for the coin to be transferred. For BNB, copy the BNB address provided and the MEMO since Binance requires MEMO to receive BNB. For ETH, just copy the ERC 20 wallet address.
Step 3: Transfer crypto from Trust Wallet to Binance.
Once you have copied your BNB or ETH wallet address from Binance, launch the Trust Wallet app and tap on the coin you want to send from the list of available balances on the Trust Wallet app homepage.
Click on the [Send] button,
Paste your Binance BNB (or ETH) address, the amount of BNB (or ETH) to be transferred, and the MEMO, then click on [CONTINUE] on the top right corner of the screen.
If you’re transferring ETH, you don’t need a MEMO, but since we will be transferring BNB for this tutorial, we will add the MEMO because Binance requires MEMO to receive BNB to the BNB wallet addresses it provides.
Also, if you have Binance open on your desktop computer or laptop, you can scan the QR code provided by Binance on your Trust Wallet app and it will input the BNB address automatically. If you use this method, you will still have to fill in the MEMO manually.
Finally, review network fees and cross-check the BNB address and MEMO, then click on [Approve] to authorize the transaction.
Depending on the network load of the blockchain you’re using, transferring funds from Binance to Trust Wallet can take anywhere from 3mins to 20 mins. Sometimes, it might take longer, so be patient, and Binance will let you know when your funds arrive via a smartphone and email notification.
Step 4: Swap BNB or ETH for fiat currency/stable coin on Binance.
By now, the coin you sent should be available in your wallet on Binance. The next step in withdrawing funds to your bank account will be to convert the said coin to a fiat currency or stablecoin on Binance.
To do this, go back to the Binance homepage and click on [Trade] then [Convert],
Select BNB (or ETH) in the [From] section and any fiat currency (eg EUR) or BUSD stablecoin in the [To] section. Click on [Preview Conversion] and then [Convert] to place an order.
NOTE: There are no trading pairs for BNB and some fiat currencies like GBP, TRY, PHP, etc so you have to convert to USDT or BUSD first and then to any of those currencies.
Step 5: Withdraw to your bank account or sell funds on the Binance P2P marketplace.
Depending on your country of residence, you might be able to withdraw funds directly to your bank account easily. Still, if you live in a country where Binance withdrawals are not supported, the best method to get your funds into your bank account is to use the Binance P2P marketplace.
To withdraw funds to your bank account from Binance, click on [Wallets] then [Fiat & Spot].
On the wallets page, click on [Withdraw] then [Withdraw Fiat]. Alternatively, you can use this link (https://www.binance.com/en/my/wallet/account/main/withdrawal/fiat/) to access the fiat withdrawal page.
Select the fiat currency to withdraw (e.g., EUR, GBP, USD, etc.) and choose your preferred payment method from the list of available options.
Input amount to withdraw and account/card/payment platform details, then click on [Continue].
Lastly, complete the 2-step verification to authorize the transaction and wait for funds to arrive in your bank account or online wallet. With this, you have successfully withdrawn your crypto assets from Trust Wallet t your bank account.
If fiat withdrawals are unavailable in your country on Binance, you will have to go the Binance P2P route to get your funds into your bank account. Trading on Binance P2P is very easy compared to other P2P crypto exchange platforms available currently, so using the platform should not be too tasking, even for new users.
NOTE: You can’t sell fiat currencies on Binance P2P, so make sure your BNB or ETH is converted to a stablecoin like USDT or BUSD using the earlier step. You can also sell ETH or BNB directly on the Binance P2P marketplace, so the choice is yours. That said, the USDT market on Binance P2P offers the highest number of buyers.
To withdraw funds to your bank account via Binance P2P, head to the Binance P2P website (p2p.binance.com) or launch the Binance app on your mobile device and click on [P2P Trading].
Click on [Sell] and change the [Fiat] currency to your preferred currency.
Click on the [Payment] dropdown menu and select your preferred payment. Binance supports more than 20 payment methods that you can use you receive funds, including bank transfers and more.
Select one of the many merchants available on the marketplace and input the amount to start a trade. Although Binance offers robust buyer/seller protection on their P2P service, choosing the right buyer for your funds is important to prevent scamming.
Upload your account details to the buyer and wait for the payment to reflect on your bank account/online wallet. When funds arrive in your bank account, and you confirm it, go ahead and release the funds for the buyer.
How to Use Trust Wallet
The Trust wallet is very simple to use, and you must download, install and create a wallet to start using it. We’ve broken down the entire process into four simple steps:
Download & Installation
- You can download and install the Trust wallet from your Android Play Store or iOS App Store.
Create A New Wallet
- After you have downloaded and installed the program, you’ll be prompted to choose whether you want to create a new wallet or import a current one.
- Select “Create a new wallet.”
- Now you’ll be shown a 12-word seed or a recovery phrase which you must write down. Make a note of it and save it. Do not share it with anyone. The wallet cannot be accessed if the recovery phrase is lost.
- After then, double-check your backup phrase by inputting the words in the right sequence.
- Your account has now been created, and you will be able to access your wallet.
Set Up The Trust Wallet
- By selecting your fiat currency, you will be able to purchase and view the conversion rate between this money and the various cryptocurrencies accessible on Trust Wallet.
- When you enable alerts, you will be alerted whenever a transaction is received on one of your wallets. To enable this feature:
Settings < Push Notifications < Allow Push Notification
- Next, you’ve to select the transaction speed. Keep in mind that quicker transactions will cost more and vice versa. To alter this setting,
Settings < Transactions < Transaction Cost
Choose from three options, namely, cheap, regular and fast.
Receiving & Sending Cryptos
You can quickly receive and transfer crypto using your Trust wallet now that you’ve set it up.
You will need the wallet address to receive cryptocurrency.
- Navigate to the Wallet tab and choose the coin that will be the recipient of the future transaction.
- You will be able to view the status of your account on this new page.
- To gain access to your wallet address, press Receive.
- To send a bitcoin transaction, navigate to the Wallet tab and hit the corner that will be the subject of your transaction.
- Click the Send button.
- The first line provides the receiver’s wallet address and amount. You can also scan the QR code instead of pasting the wallet address.
How to fund my trust wallet from my bank
Follow the steps below:
Step 1. Login to your Trust Wallet app and click on any asset that you want to buy.
Step 2. Below the asset, tap on “Buy.”
Step 3. Input the amount you want in dollars.
Step 4. Choose between the available payment option you see there. Note that payment options depend on your location. Some people can use their debit cards. Some only have the option to use MoonPay.
For people living in areas where direct crypto transactions are banned, no payment option will be available. In that case, funding can only be made via exchanges.
With that said, depending on the asset you purchase the delivery time differs. Just come back within minutes to check your balance.
How to Make Money with Trust Wallet
The five ways you can earn money with Trust Wallet are listed below.
Staking is one of the most popular ways to generate passive cryptocurrency income with Trust Wallet.
Staking enables cryptocurrency owners to generate passive income by locking up tokens to support a crypto network’s consensus protocol in exchange for staking rewards.
Staking is similar to depositing cryptocurrency into an interest-bearing savings account, except that the money is paid out in cryptocurrency rather than fiat money.
Many of the top cryptocurrency networks use a consensus mechanism based on the Proof-of-Stake protocol, in which network validators stake tokens to protect the network and validate transactions. Validators (stakers) are given a portion of the block reward as payment for their assistance in preserving the network’s integrity.
Staking is a useful method for making crypto assets generate income rather than just sitting in your wallet. Additionally, you can improve the effectiveness and security of the blockchain projects you support by staking.
There are currently six different cryptocurrencies that Trust Wallet supports for in-app staking. BNB, Kava, Cosmos, Algorand, Tezos, and Tron are a few examples. However, more staking choices will be accessible soon.
One of the most well-liked use cases in the quickly expanding DeFi market is DeFi lending. You can lend your cryptocurrency to others through DeFi lending and receive interest. Aave or Compound are two popular DeFi lending protocols that you can use straight from Trust Wallet.
DeFi lending operates in a similar way to how traditional financial markets operate when it comes to lending. The main distinction is that credit checks are unnecessary when using decentralized applications (as opposed to financial intermediaries) to match borrowers and lenders.
You can lend your assets in decentralized lending pools using Compound, a top decentralized lending platform. Borrowers are required to pay interest when taking out loans. As an incentive to stake their tokens and provide liquidity, all lenders receive a distributed share of interest. Because they are based on supply and demand, interest rates fluctuate.
Suppose you decide to use DeFi lending as your method of generating cryptocurrency passive income. In that case, the Trust Wallet app enables you to easily access a variety of DeFi protocols, such as Aave, Compound, and CREAM.
Giving automated market makers liquidity (AMMs)
Providing liquidity to automated market makers is a fantastic way to generate passive income with cryptocurrency (AMMs).
AMMs are decentralized trading platforms that use smart contracts to connect buyers and sellers. Liquidity providers are compensated with a portion of the trading fees in addition to governance tokens as an incentive to increase liquidity (by depositing tokens in a trading pool).
Uniswap was the first decentralized platform to successfully implement the automated market maker (AMM) protocol after its launch in 2018. Users can trade one ERC20 token for another on Uniswap without the aid of a middleman.
Additionally, it enables anyone with Ethereum tokens to generate passive income by adding liquidity to a pool and sharing in the trading commissions.
Yield Farming is Another method of making cryptocurrency money with Trust Wallet is yield farming.
Providing liquidity to decentralized lending or trading pools to receive liquidity pool tokens that are later staked in a yield farm to earn an additional yield on top of your liquidity pool fees is the process of yield farming.
To find the best yields on the market, you can use Trust Wallet to access a variety of yield farms on Ethereum, Binance Smart Chain, and other blockchain networks.
While yield farming may be one of the most dangerous passive income streams in cryptocurrency, it also has one of the highest potential rewards.
The practice of “NFT farming” involves either staking tokens in exchange for an NFT as payment or staking NFTs in exchange for rewards.
Like yield farming, NFT farming operates with the main distinction that NFTs are either the staked token or the reward in the former.
NFT farming increases the liquidity and usefulness of NFTs that otherwise would be sitting in your wallet.
You can access NFT farming DApps with a few button clicks using the in-app DAppbrowser or WalletConnect when using Trust Wallet.
This is one of the riskier ways to make passive income in cryptocurrency, much like “traditional” yield farming. Therefore, it is best only to take risks you can afford to lose.
What can you do with the money in the trust wallet?
The money in the trust wallet can be used for various purposes, such as investing, spending, or saving.
The trust wallet is a great way to make money. You can start making money immediately by following the steps in this guide! So if you’re looking for a way to make some extra cash, look no further than the trust wallet!