What is Trust Wallet (TWT)?
Trust Wallet is a self-custody digital wallet, meaning users have full control over their assets. It offers comprehensive wallet management features, including buying, selling, storing, exchanging, and managing cryptocurrencies, NFTs, and more. With a user-friendly mobile app and convenient browser extension, Trust Wallet makes it easier for both beginners and experienced users to access, trade, deposit, and withdraw assets.
Trust Wallet: A Brief History
Trust Wallet was founded in 2017 by Viktor Radchenko, a software developer who wanted to create a secure and user-friendly digital wallet for everyone. Originally, Trust Wallet was designed to support Ethereum and ERC-20 tokens, but its rapidly growing popularity led it to evolve into a multi-asset digital wallet.
In 2018, Trust Wallet was acquired by Binance, one of the leading cryptocurrency exchange platforms. Currently, Trust Wallet operates as an independent company and boasts over 100 million downloads worldwide.
Source: Trust Wallet
Trust Wallet's Key Features
Multi-Coin Wallet: Supports over 10 million digital assets, allowing users to manage their entire digital asset portfolio in one place, including storing, sending, and receiving.
Self-Custody: Trust Wallet is a non-custodial wallet, meaning users hold their own private keys. Trust Wallet encrypts data and generates a 12-word recovery phrase, which users must keep safe to recover their wallet in case of emergencies.
In-App Swapping: Trust Wallet offers a built-in exchange service, enabling users to swap cryptocurrencies directly within the app without transferring to external platforms, simplifying the process and enhancing convenience.
Advanced Security: Trust Wallet prioritizes user security with features like password protection, fingerprint or facial recognition authentication, and encrypted backups.
Trust Wallet's Founder
Viktor Radchenko – Source: forumdaily
Trust Wallet was founded by Viktor Radchenko, an expert in technology and innovation. Before entering the crypto world, he was a key team member at Symphony, a secure, cloud-based communication platform.
He also co-founded Trucker Path, a logistics platform providing navigation and freight-matching services for the trucking industry. The success of this project highlights his ability to identify opportunities in niche markets and create products that effectively meet specific needs.
What is the TWT Token?
The TWT (Trust Wallet Token) is a utility token designed to provide benefits and incentives to users of Trust Wallet, a mobile digital wallet that supports a wide range of digital assets, including tokens on Ethereum, Binance Smart Chain, and TRON. TWT is designed to enhance the utility and engagement within the Trust Wallet ecosystem.
- Benefits within the Trust Wallet App: TWT holders can enjoy benefits such as discounts on in-app cryptocurrency purchases and reduced fees for decentralized exchange (DEX) transactions.
- Governance Rights: TWT acts as a governance token, allowing holders to participate in shaping the future of Trust Wallet. They can vote on proposals related to supporting new blockchains, listing new tokens, and adding new features. Voting power is proportional to the amount of TWT held.
- Supporting Community Developers: TWT is used in Trust Wallet's pull request system, which is a way for developers to contribute to the wallet's software. Paying with TWT helps reduce spam and increases the credibility of the development process.
- Use in Digital Marketplaces and Web 3.0: TWT has the potential to be used for purchasing goods in digital marketplaces and developing features for decentralized applications (DApps), which are part of the expanding mobile Web 3.0 landscape.
TWT Token Distribution
According to CoinMarketCap data as of 24 January 2025, the total supply of TWT tokens is 999,668,148 TWT, with a circulating supply of 416,649,900 TWT.
The TWT tokens are distributed as follows:
- 40.00% - Focused on allocation to new users
- 30.00% - Held in reserve
- 15.00% - Allocated to the community as rewards for long-term users
- 15.00% - Allocated to developers
Interesting Facts About TWT's Price
According to Coinmarketcap data on 24 January 2025, TWT has a market capitalization of $419,920,450 USD, or 14,124,793,726 Thai Baht.
At the time of writing, TWT is trading at approximately $1.01 USD, or about 33.90 THB per TWT. TWT reached its all-time high of $2.72 USD, or about 91.44 THB, on 12 December 2022.
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