Recently I have shifted a lot of my extra time (which I don't have a lot of) towards learning to trade cryptocurrencies and doing a few trades myself. One of my best entries during this period has been TWT, the Trust wallet Token which is the native token of the Trust wallet Mobile App.
Admittedly, I hadn't done much research into the TWT or the trust wallet itself before I bought some. So why did I just buy into it? Something must have convinced me, right? Right.
First tell me, what's the ONE thing that is going absolutely NUTS in cryptocurrency right now..? What it it that people are losing their minds over? Without getting too technical, the answer is DeFi and all the different Swapping Platforms. Uniswap had started the craze and literally almost every Defi Swap platform that followed, boomed!
What would be the next thing on your list...? My answer for number two is, people right now just lose it when they hear about staking some shit to get some different shit or more of the same shit....aka Liquidity Pools. And this hype does not look like it will go away anytime soon.
So why did I buy TWT? It can be staked on a DeFi Platform on the Binance Smart Chain called Beefy Finance to earn another coin called FRONT Token. So I did the math.
Each front token is currently trading at BUSD 0.97.
I am currently not in a position to research deep into every coin I buy in. As i keep telling head-clerk, Right now I don't have a clue about most things.
But as I looked more into the Trust Wallet and the services it is providing, I rue not having researched earlier. I'd surely have bought a lot more! Not to stake, no. I'll probably not stake for quite a while yet to maintain my trading account's liquidity, but I sure am learning when to ride the hype!
So to sum up what we've gathered so far,
I downloaded the app to check out what it really offers. Most of the folks I know from the HIVE blockchain who have recently started trading crypto is using it. So i had to see for myself what's the deal with it. So I downloaded and created my wallet, very simple signup process...no email verification...just had to save my seed phrase.
So basically this was like any other mobile wallet for crypto, but the major advantage that separates it from most wallet apps is that is, it lets you link and access the all major swap platforms from both the Ethereum Mainnet (e.g. Uniswap, SushiSwap, 1inch, etc..) and the Binance Smart Chain (e.g PancakeSwap, BeefyFinance, etc..).
Meaning, you can swap between currencies on both the respective chains from the app itself.
I think bringing multiple DeFi platforms into one app via their DApp browser is the biggest selling point for Trust Wallet. For someone like me, who finds all these multiple platforms too confusing and time consuming to keep track of, I'd be interested in something like this.
But I couldn't figure out how to link a wallet I already have say for example providing liquidity in Pancakeswap to the trust wallet. That could have been made easier, or maybe it's just my lack of knowledge there.
The other notable features was that it allows buying crypto directly with your Card.
The wallet itself is open source, meaning blockchain developers can integrate their dAPPS and create multi chain applications on the Trust Wallet. But I can't really understand further on this as it goes on to talk in programming language. I have no clue.
It wasn't quite clear what projects to look forward to or what their road map is on their site, which is a bit of a downer. So all I could gather were these projects that seem to be already in place...
Trust Wallet Core is a cross-platform library that implements low-level cryptographic wallet functionality for many blockchains. Most of the code is C++ with a set of strict exported C interfaces. The library provides idiomatic interfaces for all supported languages (currently Swift for iOS and Java for Android).
I didn't understand a thing of this portion...so not too "non developer friendly" I'd say. Hard for an investor to glance and get a clue of what is actually being built.
Block Atlas is a clean and lightweight cross-chain explorer API to view useful blockchain information, such as transactions, tokens, staking validators and much more.
Not sure exactly how this is beneficial, but I myself use the block explorer on the HIVE blockchain on a regular basis. So to the right user, this has its uses. Just not to me, not yet anyways. This did seem like a work in progress...tons of github codes in the link that flew 6 inches above my head.
I entered the trade when TWT was at $0.3. It's trading at nearly $0.7 now, reaching up to $0.75 last night. 150% up in a matter of less than a week seems pretty decent. I am not exactly sure where to take profit on this trade. But I won't be sorry if there's a big dip in price as I will be looking to add to my position in that scenario.
