Trust Wallet: Adding USDT TRC20 and TRON

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In this short video I will show you how to add USDT TRC20 to your Trust Wallet. In order to use USDT TRC20 you are also going to need some TRON to pay for gas fees. 

Click on the add tokens symbol at the top right or at the bottom of your home-screen. 

  1. Type USDT into the search bar at the top. 
  2. You are looking for Tether USDT TRC20. Make sure it TRC20! 
  3. Once you have found it turn on the toggle bar on the right.
  4. Next, search for TRON. The trading abbreviation is TRX. You are going to need some TRON to pay for gas fees when you send your USDT TRC20 to another wallet.
  5. Once you have found it turn on that toggle switch also.

The biggest thing to remember is when you are sending USDT TRC20 you are using the TRON network, which means you’ll need some TRON to pay for the gas fees! It’s no different than needing Ethereum when sending USDT ERC20.

Tron gas fees are much less expensive than Ethereum so you won’t need much.

Trust Wallet: USDT TRC20 and TRON Wallet Address

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In this video I will show you where to get your USDT TRC20 wallet address in your Trust Wallet.

  1. After you login to your Trust Wallet locate Tether USDT and click on it. Make sure it says TRC20 at the top left. Click on Receive.
  2. On the receive USDT screen you will see a QR code and a wallet address. The wallet address should start with a T. Hit the copy button.
  3. Send the address to yourself in a text or an email. Hit done.
  4. Next, you are also going to need your TRON wallet address. Click on TRON. And then receive. Notice that you are on the receive TRX screen, but look at the wallet address. You can copy it again, but your TRON wallet address is the same as your USDT TRC20 wallet address. Remember, in order to send USDT TRC20 you are going to need some TRON to cover the gas fees. You can buy TRON directly from your Trust Wallet.
  5. To buy directly from Trust Wallet hit done, and then buy. The minimum amount of TRON you can purchase through Trust Wallet is $27.01. As long as you buy more than that amount you can use Mercuryo. They are a trusted third-party payment provider. Hit next.
  6. You can pay with Apple Pay or a credit or debit card. You can follow the prompts from here. 
  7. You can also buy some TRON on an external exchange and send it to your Trust Wallet. CoinZoom does not support TRON. So you will have to go to a different exchange to buy TRON! Check out XT, Coin Store or Kraken. They all support TRON. Remember, you don’t need that much. You are only using it to pay network fees.

You got this! 

Trust Wallet: Transfer USDT, Ethereum & Gas Fees

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In this short training video, I will show you how to do a USDT or a USDC ERC 20 transfer from your Trust Wallet! 

First, open your Trust wallet located on your phone! If you recall in the first training video I showed you how to add tokens, but as a reminder you can either select the icon that says add tokens or click the icon that’s located at the top right corner of the screen and from there you will be able to select the tokens that you want to use in your trust wallet!

To add a new token, search for the token in the search bar located at the top of your screen and when you find the token that you want to add turn on the toggle switch here!

Now you will see that new token is available and located on your home screen! You can add as many tokens as you would like or you can keep it simple and just use a basic selection of tokens! The choice is yours, but in order to have access to the token it first must be added. If you don’t see the token that you’re looking for, then you will manually add it as previously demonstrated! 

Next, to send USDT or USDC ERC 20 you’re going to need Ethereum in your trust wallet to cover the gas fees! 

Gas fees can fluctuate depending on the value of Ethereum, the time of day and the blockchain activity! When you are managing tokens in a decentralized wallet, there is no set gas fee like when sending from an exchange! With a decentralized wallet you are in control of your tokens, which also means that you are responsible to cover the gas fees! 

There are three ways to add Ethereum to your trust wallet! 

The first way is you can purchase Ethereum using a third party provider like MoonPay, for example. Click on the buy icon and you can find the third party provider that offers the best rates! Keep in mind that the fees can get expensive doing it this way and some banks will give you a hard time buying crypto! 

The second way is you can swap tokens. For example, you can swap USDT for Ethereum, but the catch is in order to swap tokens, you also need some Ethereum to cover the gas fees for the swap. 

The third, and simplest way to add Ethereum to your trust wallet is to purchase the Ethereum on an exchange like CoinZoom, or CoinBase and transfer it to your trust wallet. Click on the Ethereum token, and click on receive and copy your Ethereum wallet address. Use this address to transfer Ethereum from your favorite crypto exchange. This is the recommended method! 

Bottom line is you always want to make sure you have some Ethereum in your decentralized wallet to cover the gas fees. 

You will also notice that your Ethereum wallet address will match your USDT ERC 20 address. 

if you want to check your gas fees to see how expensive or how much gas you may need, go to etherscan.io and look up Ethereum gas tracker. Typically I recommend keeping a minimum of $50 to $100 worth of Ethereum in your trust wallet at all times to cover gas fees! You cannot send USDT or USDC ERC 20 without having some Ethereum!  

Trust Wallet: Overview

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In this video, we will discuss the difference between a centralized wallet and a decentralized wallet. And why we need both?

The main difference between a centralized wallet and a decentralized wallet is in how they are managed and who has control over the user’s funds.

A centralized wallet is managed by a third-party service provider such as an exchange or a custodian which holds the user’s funds on their behalf. The user typically needs to create an account with the service provider, and the provider manages the user’s private keys and controls access to the wallet. The user needs to trust the service provider to secure their funds and protect their privacy as the provider has complete control over the wallet.

Although there is a time and place for using a centralized exchange such as CoinZoom, Coinbase, or Gemini, you are never fully in control over your funds. Additionally, some platforms now require that we transfer funds from a decentralized wallet such as Trust Wallet, which is managed by the user themselves without the need for a third-party service provider.

With a decentralized wallet, the user has full control over their private keys and can securely store and manage their funds, all without relying on a central authority. The user also has complete privacy as their personal information is not shared with any third-party service provider. This is key to getting off of the financial grid.

Decentralized wallets are often considered more secure and private than centralized wallets as they are not vulnerable to centralized hacking and data breaches. However, they require more technical knowledge and responsibility from the user as they are responsible for keeping their private keys safe and securing their wallet from many potential threats.

In summary, the main difference between a centralized and a decentralized wallet is in who has control over the user’s funds and how the wallet is managed. While centralized wallets provide convenience and ease of use, decentralized wallets provide greater security and privacy.

A decentralized wallet like Trust Wallet is a software application that allows users to securely store, manage, and transfer their digital assets such as cryptocurrencies and tokens without the need for a centralized intermediary. Trust Wallet is a non-custodial wallet, which means that the user has full control over their private keys and funds.

Trust Wallet uses strong encryption to protect the user’s private keys and passwords, and the user can create a backup of their wallet by writing down a recovery phrase, which can be used to restore their wallet in case they lose their device or forget their password. There are zero reports of Trust Wallet being hacked.

When a user first downloads and installs Trust Wallet, they are prompted to create a new wallet. The user is provided with a private key, which is a unique sequence of letters and numbers that serves as the user’s digital signature and allows them to access their wallet and sign transactions.

To add funds to their wallet, the user can either receive them from another wallet or purchase them from a cryptocurrency exchange and send them to their Trust Wallet address. Once the funds are in the wallet, the user can view their balance and manage their assets such as buying, selling, and trading cryptocurrencies. Trust Wallet supports a wide range of cryptocurrencies.

When the user wants to send funds to another wallet, they can create a transaction and sign it using their private key. The transaction is then broadcast to the network and verified by other nodes, and once it is confirmed, the funds are transferred to the recipient’s wallet.

Overall, Trust Wallet provides a secure and convenient way for users to store, manage, and transfer their digital assets without relying on a centralized intermediary.

In the next training video, we will go through the steps to download and set up your new Trust Wallet.

Trust Wallet: Setup & Installation

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Trust Wallet is a free decentralized crypto wallet. It is user-friendly and has had zero known hacks. From the Apple or Google Play Store, search for and download Trust Wallet. We’re going to set up your wallet in a specific way. It’s important that you follow the steps laid out in this video exactly as I have explained.

Once you have downloaded Trust Wallet onto your phone, select “Create a new wallet.” You will access your new Trust Wallet with a six-digit passcode that you create. It’s important that you keep this passcode in a safe and secure location.

Your backup secret phrase is your seed phrase. This is the key to being able to access your new decentralized wallet. I recommend backing it up manually. The secret phrase is the master key to your wallet.

You have to check each of these statements confirming you understand that if you lose your secret phrase, your funds will be lost forever. If you expose or share your secret phrase with anyone, your funds can be stolen. Trust Wallet support will never reach out and ask for it.

Bottom line is your secret phrase is important. Make sure you take your time and your secret phrase is well-documented and safe. Once you have checked all of the statements, hit “Continue.”

Take a screenshot and then make sure that it is stored somewhere off your phone. Don’t leave the original picture in your photos on your phone. If you use Keeper Security, make sure to take the time to know each word and the specific order they are given to you. If you use a journal, write the words out in the correct order. This is an important step. Take your time.

Once you have documented your secret phrase and its correct order, hit “Continue.” Never share your secret phrase with anyone. Your 12-word secret phrase is the only way to recover your wallet. Store it securely, hit “Continue.”

You will be asked to verify your secret phrase in the exact order it was originally shown in order to be sure that you have documented it properly. Hit “Continue.”

You can move past the “Let’s explore your new wallet” by exiting the screen at the top right. You can buy crypto directly from your new decentralized wallet, but you will find that the fees are much higher this way. In our training, we recommend buying your crypto from an exchange like CoinZoom to save money.

You can exit out of this screen. You can also deposit and store your NFTs in your Trust Wallet, but this is not relevant for the purposes we will be using the wallet. So you can exit out of this screen also.

This is the message that is most relevant for how we are going to use our Trust Wallet, but we’re going to show you how to use this feature so you can exit out of this screen also.

Now your wallet is ready for use. Remember, this is a decentralized application, which means there is no KYC process. You can immediately begin using your wallet. Click the “Start using Trust Wallet” button located at the bottom of the screen.

There are still a few things we need to do in order to be completely set up and ready for use. Opt-in for push notifications. Since you are managing your funds, I recommend turning this feature on so you know when funds are received and when they are sent out. The only time you won’t get a push notification is when someone airdrops your crypto into your wallet, but if it’s a normal transfer, you’ll know as soon as the crypto clears the blockchain and lands in your wallet. Click “Enable.”

This is your main screen in Trust Wallet. Before we get started, let’s reorganize the tokens that we are going to be using the most and get rid of some of these tokens that we’re not going to use. 

You can always add tokens back later. It’s very simple. Click on the “Add tokens” icon located at the bottom. To remove a token, all you have to do is toggle the button off. For now, let’s get rid of B&B Beacon Chain, Trust Wallet TWT, and B&B Smart Chain unless you have another need for these tokens.

To add tokens, use the search bar located at the top of the screen. Bitcoin and Ethereum are already displayed. The tokens you will want to add are Tether USDTE RC20 and USD/C ERC20. This is good for now.

Search for and add USDT and USDC by turning them both on, like shown on the left, unless you have a need for other tokens. Your page should now have Bitcoin, Ethereum, USDT, and USDC. Hit the “Done” button at the top of the screen.

If your Trust Wallet was new and you followed all of the steps that were laid out in this training video, your new home screen should look like this. The next video will work on transferring funds into your new wallet. It’s going to be a little different at first, and there are some specific things you will need to learn, but we can cut the learning curve tremendously if you follow these training videos exactly.

Take your time. You are learning some amazing new skills and well on your way to becoming the bank.