CoinMarketCap takes a deep dive into Trust Wallet Token (TWT), a token that offers governance authority & in-app discounts to Trust Wallet users.
Trust Wallet Token (TWT) is the official token of Trust Wallet, a mobile-based cryptocurrency wallet that is used for trading, buying, and selling NFT's & cryptocurrencies. TWT is a chance for anyone on the platform of Trust Wallet to hold and own their very own (affordable) crypto asset backed by the platform itself.
Trust Wallet App Features
According to the founder of the Trust Wallet app, Viktor Radchenko, the cryptocurrency app has a simple interface and supports around 250,000 different assets. Viktor mentions in the Trust Wallet’s official blog:
‘’We currently support over 33 blockchains, which contain, in total, around 250,000 different assets. So we have pretty good coverage in terms of the different digital assets that we support across different worlds.’’
“Earn” is a future project of Trust Wallet that will help its users make passive income with ease. Viktor believes that with the launch of this feature, all people would need is a button that they will press and start earning funds that they can trade or sell on the Trust Wallet app.
According to Viktor, the mission of Trust Wallet is accessibility. It means that there is no KYC verification of any sort of barriers needed for the users to create an account and start trading cryptocurrencies.
How Does Trust Wallet Token (TWT) Work?
The whole concept of Trust Wallet Token (TWT) revolves around governance activities, where TWT holders can participate in the voting processes on major decisions concerning the Trust Wallet app. These include the upcoming updates, new features, and so on. Unlike many other tokens of cryptocurrency marketplaces, Trust Wallet Token (TWT) doesn't hold any real value outside its ecosystem, however, inside the Trust Wallet universe, the ones who hodl the token can benefit themselves with a variety of discounts when buying cryptocurrencies.
To earn Trust Wallet Token (TWT), users must complete several tasks that may include quizzes, referral campaigns, trading & staking cryptocurrencies, and other in-app tasks.
How Is Trust Wallet Token (TWT) Unique?
Trust Wallet Token (TWT) is based on the Binance Smart Chain (BSC), a blockchain network designed to empower smart contract-based crypto projects. The gas fees of BSC are minimal in comparison to other platforms and the super-fast transaction confirmation times are an added bonus to all tokens that run on BSC.
The main purpose of TWT, a BEP-20 asset, is to provide value to Trust Wallet users. However, since it is based on the Binance Smart Chain (BSC), it can be either offered as a payment for services or swapped with other crypto assets.
The Vision Behind Trust Wallet Token (TWT)
The founder believes that TWT is proving to be useful as it educates its holders about governance and the power of voting & decision making. He also believes that Trust Wallet can promote the concept of 'adoption' and 'education' for upcoming technologies in the vast world of crypto.
Viktor Radchenko defines the mission of TWT as:
“Simplifying it, making it accessible, and giving people the ability to create wallets without limits. You’re free to set up a wallet anywhere you want. No restrictions.”
Trust Wallet Token (TWT) Tokenomics
As of now, the TWT token supply is set at 1 Billion. The circulating supply, however, is 1/4 of the total supply. The token distribution is as follows:
- 40% to user acquisition
- 15% to developers
- 15% to TWT community
- 30% to reserve stores
Trust Wallet Token (TWT) Price
Trust Wallet Token (TWT) is now trading at $0.898, as of Aug. 30, 2021. Its 24-hour trading volume on exchanges is around USD $31,261,799.
Trust Wallet Token (TWT) Price Prediction?
As of Aug. 30, 2021, the token is trading at $0.898. Whether Trust Wallet Token (TWT) will hit $10 in the near future depends on a lot of factors.
The Trust Wallet Token (TWT) is built on the Binance Smart Chain (BSC), which is one of the leading blockchain networks in the world. BSC supports popular DeFi wallets, offers low transaction costs with near-instant transfer speeds, and its ecosystem is expanding aggressively with hundreds of assets (tokens) running on the network. Its growing popularity may have a significant effect on the price of Trust Wallet Token (TWT) and $10 may be a goal it can reach in the near future.
Unlike many other tokens in the cryptocurrency world, TWT is supported by a wallet with a growing number of users and a community behind it. Just like BNB got its support from Binance, TWT can bank on the popularity and credibility of the Trust Wallet app to take it to new heights in a short period.
Now, considering a lot of volatile factors, it is very hard to say in which direction Trust Wallet Token (TWT) will tilt, which is why it is advisable to keep an eye on market indicators and technical opinions of cryptocurrency experts before investing in this token.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
