Have you heard about Trust Wallet and want to start your crypto journey, my friend? If yes, you likely have some questions before downloading it – how do I add money to Trust Wallet? Can I buy crypto directly? Is it safe to connect my wallet? Worry not! I have made this detailed 3000+ word guide just for you that covers everything about funding your Trust Wallet account.
A Quick Primer on Trust Wallet
Let‘s start by briefly understanding what Trust Wallet is, who made it and why it has become beginners‘ favorite over the last 2 years.
Trust Wallet is a mobile-based, open-source cryptocurrency wallet launched in 2017 that allows you to store, send, receive and even exchange digital assets conveniently. In 2018, it was acquired by Binance to serve as their official wallet. Within 5 years, Trust Wallet has exploded into one of the largest multi-chain wallets with over 5 million monthly active users as of 2022 [1].
What makes Trust Wallet so appealing to first-time users?
- Supports 160k+ crypto coins like Bitcoin, Ethereum as well as smaller altcoins and tokens
- Built-in decentralized exchange (DEX) aggregator to swap tokens in-app
- Allows users to easily buy crypto using credit/debit cards
- Integrates Web3 DApps like UniSwap, PancakeSwap etc in the browser
- Provides access to features like staking, NFTs, GameFi apps
- Backed by Binance’s security infrastructure yet non-custodial
However, if you are struggling with the basic first step of adding some money to your Trust Wallet account, this guide is exactly what you need.
Over the next few sections, I will be explaining step-by-step methods to add funds to Trust Wallet – both by buying supported cryptocurrencies directly within the app as well as transferring from any external crypto wallet.
Let‘s get started!
Method #1: Directly Buy Crypto on Trust Wallet
The awesome thing about Trust Wallet is that it lets you instantly buy over 130 cryptocurrencies including Bitcoin, Ethereum, Binance Coin, Solana, Cardano and Polkadot through a built-in “Buy Crypto” feature, powered by third-party providers.
As of Nov 2022, popular fiat-to-crypto provider Wyre supports USA residents while Banxa serves European and UK customers for direct buys [2]. Depending on your location, you will be connected to the relevant partner.
Here is a comparison of supported currencies, payment methods and average fees charged on Trust Wallet:
| Provider | Payment Methods | Supported Coins | Fees |
|---|---|---|---|
| Wyre | Debit/Credit Card | BTC, ETH, USDT etc | 1.5% + small network fee |
| MoonPay | Credit/Debit Card, Apple Pay | BTC, ETH, MATIC, ADA etc | 4.5% + small network fee |
| Banxa | Credit/Debit Card | BTC, ETH, XRP, DOT etc | 5% + small network fee |
Information updated as of Dec 2022. Rates keep fluctuating so verify before purchasing.
While MoonPay and Banxa take a larger cut, Wyre charges the lowest 1.5% processing fee in USA. Let‘s go through the buying process on Trust Wallet using Wyre.
Step 1: Navigate to the "Buy" tab
Open your Trust Wallet app and login using your passcode. You‘ll see 4 tabs on the bottom – Wallet, DApp Browser, Settings and Buy. Tap on Buy.
Step 2: Select Currency and Enter Amount
You‘ll now see a list of 130+ coins supported by Wyre. Search for or scroll down to pick your preferred cryptocurrency. For this demo, we have selected Bitcoin (BTC).
Next, tap on the amount field and enter the value of BTC you wish to purchase in USD. There may be a minimum purchase amount for some coins ($50 for BTC).
Step 3: Make Payment
Check the total amount including network fees and confirm everything is correct before proceeding. The app will now redirect you to Wyre‘s secure payment page.
Select your debit/credit card details and complete the purchase. It hardly takes 3-5 minutes for the purchased coins to reflect in your Trust Wallet balance!
That‘s all there is to buying 130+ cryptocurrencies directly within the Trust Wallet mobile app, thanks to its integration with payment partners. For people starting their crypto investment journey, this is the simplest way to add funds.
Now let me tell you what to do if you already own some external cryptocurrency and wish to transfer it to your new Trust Wallet account.
Method #2: Transfer Crypto from External Wallet
As Trust Wallet utilizes decentralized blockchain technology, what makes it exceptionally secure is – you own and control your crypto funds at all times. The private keys to your wallet stay on your device rather than any centralized server.
This concept also gives you the freedom to transfer supported cryptocurrencies that you already hold in external wallets like Coinbase, Binance, MetaMask etc. Let‘s go through the quick process step-by-step:
Step 1: Tap “Receive” and Copy Address
Open Trust Wallet app and from the bottom tabs, choose the currency you want to transfer in. For example, if depositing Ethereum, tap on ETH wallet.
Next tap on Receive and you will see your unique Ethereum public address for this Trust Wallet account. You can even scan the QR code below it.
Copy this address by tapping the icon next to it. We will need this for the next step when initiating transfer from the external wallet.
💡Pro Tip: Make sure the deposited crypto is supported by Trust Wallet else the funds may get permanently lost. As of Dec 2022, leading coins like BTC, ETH, BNB, XRP, ADA, SOL etc are enabled [3].
Step 2: Transfer Funds to Public Address
Now, open your external crypto wallet or exchange account that currently holds some funds you wish to transfer. Navigate to Withdraw section and select same currency (for example ETH) and network.
Paste the Trust Wallet public address we copied earlier. Confirm the transaction with necessary fees.
And… you‘re done! The amount should reflect in your Trust Wallet balance within 5-30 minutes depending on currency and network congestion.
Here is an estimate of average confirmation times once coins are sent to Trust Wallet:
| Cryptocurrency | Average Confirmation Time |
|---|---|
| Bitcoin (BTC) | 10-20 minutes |
| Ethereum (ETH) | 1-5 minutes |
| Litecoin (LTC) | 2-10 minutes |
| Binance Coin (BNB) | <1 minute |
| Cardano (ADA) | 5-10 minutes |
To track incoming transfers or even buy orders, tap on the Transactions tab in your Trust Wallet menu. You will see the status of deposits with an option to copy transaction ID to explore on blockchain explorer websites.
💡Pro Tip: I recommend waiting at least 1-2 block confirmations (upto 60 minutes for BTC) before trusting that the sent crypto funds have been irreversibly received in your wallet.
Once done, feel free to trade or swap tokens using Trust Wallet‘s intuitive in-app decentralized exchange aggregator. You can also store them safely for the long term or have fun buying NFT collectibles and exploring Web3 dApps, right from within your secure Trust Wallet environment.
And that concludes the 2 primary methods you can use to securely add money to Trust Wallet, my friend! Let‘s wrap up with some parting thoughts.
Final Thoughts on Funding Trust Wallet Securely
Between supporting direct fiat purchases through integrated third parties and giving you true ownership of wallet, Trust Wallet checks all boxes for beginner-friendly onboarding.
It lets you buy supported tokens with debit/credit card with reasonable fees while keeping private keys in your control for receiving external transfers.
However, do note that this convenience comes at the cost of lower security than offline hardware wallets. As long as you follow safety guidelines like protecting back up phrases, confirming transactions, checking for phishing attempts and not storing large amounts, you will have pleasant, hassle-free experience with Trust Wallet.
If you use Trust Wallet judiciously along with other centralized exchange accounts for different purposes, there is no better free mobile wallet for entering the fascinating world of cryptocurrency!
I hope this detailed guide has equipped you to easily add money to Trust Wallet app within minutes. Here‘s wishing you a prosperous and exciting Web3 journey ahead!
References:
[1] https://www.businessofapps.com/data/trust-wallet-statistics[2] https://www.bitcoinmarketjournal.com/how-to-buy-crypto-on-trust-wallet/
[3] https://trustwallet.com/assets
