How to Sell on Trust Wallet
Trust wallet is one of the most trusted crypto wallet software in the market today. It offers several features that allow its users to easily purchase, sell, and hold cryptocurrency.
Cryptocurrency users are often concerned about the safety of their cryptocurrencies, and Trust wallet providers have taken it upon themselves to provide the best service possible to ensure their user’s crypto coins are secure.
The crypto storage software aims to offer efficient services in the cryptocurrency space, prompting them to allow their users to even use visa cards as a payment method within the platform to purchase cryptocurrencies and sell them.
Today, people can use fiat currency directly to purchase cryptocurrency on Trust wallet. They can also convert several crypto tokens and meme coins such as Safemoon to BNB (Binance coin) and trade them on centralized exchange platforms like Binance.
What is Trust Wallet?
Image courtesy of Trust Wallet
Trust Wallet is a wallet software that allows users to hold various cryptocurrency tokens from a broader range of blockchains.
Trust wallet has seamless integration with both centralized exchange platforms and decentralized exchange platforms like Pancakeswap that allows users to convert meme coins and other low capped tokens before selling.
The mobile application is available for both Android and iOS users.
There are a few differences when selling on the two mobile applications. However, the fundamentals remain the same.
Why should you have it?
- Buy Bitcoin in under five minutes
- Easily earn interest on the crypto in your wallet
- See your collectibles.
- Art & NFTs in one place
- Exchange your crypto without leaving the app
- Track charts and prices within the app
- Keep your crypto safe from hackers & scammers
- Trust wallet is useful to cryptocurrency enthusiasts with many crypto tokens ranging from Bitcoin to Safemoon and other meme coins.
- The crypto software provides an efficient platform to interact with other blockchains to sell Safemoon and other memecoins while also ensuring the safety of your tokens.
- Trust wallet claims that it is suitable for those who want an efficient withdrawal process since it provides a smooth swap token process.
- If you fancy the idea of purchasing crypto using your card linked to your bank account, instant exchanges, and having private and secure storage, then this app might be for you.
- Trust wallet allows easy purchasing of popular crypto coins like Bitcoin using fiat currency.
- The wallet also allows users to keep a close eye on cryptocurrency markets by displaying live price charts.
- More importantly, you can earn profits through their interest program for cryptocurrencies stored in the Trust wallet.
How can you sell on Trust wallet?
The process of selling cryptocurrencies on the Trust wallet app depends on the coin you want to sell. However, since it is pretty straightforward selling major crypto coins like BNB and Bitcoin, we will discuss the process of how to sell Safesun, one of the many meme coins in the crypto space. To sell Safemoon, or any other low market capped cryptocurrency on Trust Wallet. you should follow the steps below.
Fire up the Trust wallet application on your Android or iOS device.
If you are on your android device, your decentralized applications (dApps) are at the bottom of your screen.
Click on the Dapps tabs on your Trust wallet android application, and it will display a list of your decentralized applications.
Step 1: Open Trust Wallet on Android.
Step 2: Go to Settings on the Bottom Navigation Bar.
Step 3: Toggle “DApp Browser” to “Enabled”.
A simpler way is Wallet Connect using the QR Code.
In this tutorial, we will use Pancakeswap as our decentralized application of choice, so if you have used it before, it will show under the History tab section. Otherwise, you can find Pancakeswap under “New DApps.”
You can also find Pancakeswap under the popular tab, as most people often prefer it to swap their tokens.
Step 1. Click on Pancakeswap, and it will direct you to the Panckaswap page to swap your Safemoon tokens to BNB.
It is often advisable to swap meme tokens to BNB, especially if you intend to interact with Binance smart chain and centralized exchanges like Binance.
Step 2. On the Pancake swap Dapp, select the coin that you want to swap, in your case, Safemoon, and enter the amount you want to swap. If you want to swap all your Safemoon, click on “Max.”
Step 3. You will then select a currency you want to swap and set the slippage tolerance. Slippage is essentially a phenomenon where trades are executed either above or under the stated or quoted price and is often due to high market volatility.
Step 4. Once you’ve set your slippage tolerance, and selected your desired currency, for instance, BNB, click on Approve Safemoon and wait for Pancakeswap to approve.
Step 5. Once approved, click on Swap to swap your Safemoon coins to BNB.
Step 6. You will receive a “Transaction submitted” pop-up. The transaction will be completed, and your Safemoon will show in your account as BNB.
Step 7. At this point, our Safemoon coins have been converted to BNB, and now you can transfer BNB (Binance coin) tokens to your Binance exchange address by keying in your Binance address in the Recipient address section to trade BNB with any stable coin you want.
Also, you can withdraw Binance coin for fiat depending on your region and the features that Binance allows within your region.
Remember, there are transaction fees involved if you want to convert crypto. Selling crypto on Binance for money is simple, as it offers P2P options as well as withdrawal options directly to your bank account for cash.
For greater clarity, you can also go through this tutorial from Trust Wallet.
There are several security features put in place to ensure the success of these transactions.
For instance, Trust Wallet and Binance provide options for 2-FA authentication, and QR code scans for users to authenticate the exchange of cryptocurrencies.
Also, to sell Safemoon for Binance coins, the user must repeatedly verify their identity to authenticate and initiate the swapping process.
Here are some frequently asked questions about selling on the Trust wallet app.
Is Trust Wallet Safe?
Yes. The platform allows users to use cash options to buy cryptocurrencies. There are safe and secure provisions to use your card to make these transactions.
What is slippage?
To sell Safemoon, for instance, you will need to swap them to other tokens to transfer them through the BSC to an exchange. You will have to set the slippage – which defines the variation between the quotes cash price and the current price in the market due to market volatility.
Can I swap memes coins to tokens other than BNB?
Yes. BNB is often preferred since most users use the BSC, and BNB transactions are discounted. However, you can swap your tokens to any other supported cryptocurrency before transferring them to the exchange for cash withdrawals.
Can I sell directly on Trust Wallet?
No. It is impossible to sell coins directly on the platform without using decentralized applications.
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