Binance Trust Wallet — A Comprehensive Guide
The increasing demand for crypto wallets propels the arrival of trustworthy wallets. Eventually, many crypto exchanges are looking to own a crypto wallet to expand their services. Recently, Binance is associated with Trust Wallet to extend their services in more convenient ways. This move lets the platforms share their users’ contributions and interconnect their brands. And now, the Trust wallet is represented as a “Binance Trust Wallet”.
But, how it helps startups looking to create a crypto wallet business is a question mark here. The association of Binance and Trust Wallet makes crypto businesses know the necessity of crypto wallets. Certainly, the demand for a crypto wallet like a Trust wallet is at its peak. And it opens up many business opportunities for crypto startups. Therefore, startups who create crypto wallets similar to Trust Wallet will have better business opportunities.
So, in this article, Let me share some of the reasons and methods to create a crypto wallet like Trust wallet in detail. But before digging deeper, let us have a look…
Is Binance Trust Wallet Safe, and How?
Binance trust wallet is a decentralized wallet that gives users full control over the wallet. This wallet is available in both the mobile app and browser extension. So it is easy for the user to download and use the wallet. In terms of security, every user has a 12-digit key phrase to meet the security verification. Besides, the app user can add an additional layer of security like biometric authentication and password protection. This keeps the trust wallet app fully protected from authorized access.
Further, there is no KYC submission in this wallet. The browser extension only requires a name and email id to create a new user profile. And all the wallet data is protected with Advanced Encryption Standard (AES). So the user doesn’t need to worry about their data and privacy. Besides, trust wallet does frequent security audits to verify the security of its mobile app and browser extension. The mobile app users will get security alerts through push notifications.
Thus Binance Trust Wallet wins the trust of millions of users with its security and privacy standards. So when you create a crypto wallet like Trust Wallet with robust security features protecting users’ privacy will make your crypto wallet business easily adaptable among crypto wallet users.
Now that you have known that a trust wallet app is safe and sound, you must be going with the option of developing one. Right? But before that, get some light on the…
Reasons to develop Crypto Wallet like Trust Wallet
Trust Wallet is a prominent crypto wallet in the crypto market. Now Binance’s takeover makes this wallet more attractive to startups looking for both business and investment opportunities. What makes it more attractive? Some reasons are…
Easy User Attraction
Trust Wallet supports many different crypto assets. And its platforms have all the user-demanding features in place within a simple user interface. Now users can easily connect with Binance exchange. These conveniences simply draw the user’s attention.
Upgraded Security
The AES encryption algorithm protects the Trust wallet data. And, the security keyphrase prevents unauthorized access to the wallet. Further, the app user’s password is hashed before being stored in a tamper-proof key store. The inbuilt security scanner does periodic checks to ensure the app’s safety. Thus this wallet stands ahead of its rivals in terms of security.
Meets Web 3.0 Technology
The trust wallet is already adapted to Web3 Technology. The inbuilt Web3-based Dapp browser connects Dapps via a secure connection. This wallet’s partnership with Web3Auth brings more web3 services to the users. So your crypto wallet business will be future centered.
Supports Easy Payment Processing
When processing a payment, the trust wallet app has the provision to complete transactions within the app. So there is no need to open a web browser to complete the payment. Hence the transaction takes less time to process payment. And, transferring crypto assets from Trust Wallet to Binance and vice versa is also simple. Every transaction done through this wallet app lets you earn a commission.
Demand and Reach
As stated earlier, the demand for crypto wallets in the crypto industry is higher. Both users and business people are looking for innovations in their wallet functionality. In this regard, Trust Wallet has secured good demand and reach in the crypto industry in terms of convenience, security, and privacy.
The above-mentioned are a few reasons to Develop a Crypto Wallet similar to Trust Wallet. Factors such as wider access to assets, increased security, and easy usage increase this wallet’s demand in the crypto space. So for startups looking for a crypto business, creating a wallet like Trust wallet is an ideal option. However, building a reliable wallet is an essential thing. So let us grab a look at…
How to Develop a Crypto Wallet like Trust Wallet?
The crypto wallet is a global audience-centered business. Therefore, your crypto wallet should be capable of satisfying the needs of a global audience. It is also developed and designed with attractive features. As a startup, you have many options to choose to develop a crypto wallet. Like, you can hire a freelancer or approach open source development strategies.
But, meeting the development quality is a challenging thing in these methods. You may risk your investment if you cannot connect with the right companion for your crypto wallet development. So to avoid such risks and build your wallet to meet the expectations of the global audience, approaching a prominent Crypto Wallet Development Company is a perfect option.
Because the development company provides two prominent ways of developing a feature-rich crypto wallet.
Methods to Develop a Crypto Wallet like Trust Wallet
Choosing the right development method is an important thing for startups having limitations like financial constraints, limited time, etc. But compromising the business requirements is not a fair option. Considering this, the crypto wallet development company has options to develop a crypto wallet like Trust Wallet either developing from scratch or using a white-label crypto wallet solution. Both methods have their unique nature to consider. First, let us start with…
Development from Scratch
It is the process of developing a crypto wallet similar to Trust wallet from the base. That means the development process begins with the ground-up work. Each and every function and feature will be fresh elements. So this method will take a long way to complete the entire process. However, it is not a fact to worry if you have enough time and budget.
You can implement your business ideas from the very beginning of the crypto wallet development. Without any limitations, the professional developer’s guidance will be with you. So when you choose the development from scratch method, the approximate cost would be around $60000 to $80000.
Using White Label Crypto Wallet Software
The White Label Crypto Wallet is ready-made software having the basic functions and features of a Binance Trust Wallet. So the entire development process only takes a week or two. So that, you can also save a little amount of time and money. Startups, who have constraints in time and money usually choose this method. This method also lets you implement your business ideas through customization. So the cost of White label Crypto Wallet Development is approximately between $10000 to $15000.
Thus the crypto wallet development company lets you choose the right development method to meet your business requirements. Considering the budget, time, and business requirements, choosing the best suitable method is entirely up to you. Before that, it is vital to have a look at the features.
Features of Binance Trust Wallet
As a startup, you may know that the only way to take your business to the next level is by offering admirable features in your wallet. In this way, the Binance Trust Wallet has the following remarkable features.
The features are,
- A non-custodial wallet offering services to buy, sell and store and swap crypto assets in a decentralized manner.
- Users of this crypto wallet app can easily link their wallets to Binance. Transferring assets from Binance Funding Wallet to a Trust Wallet account is easily possible through Binance Pay.
- The Trust wallet’s option ‘Deposit from exchange’ allows asset transfer from binance to trust wallet effortlessly.
- wallet can support all EVM chains and Binance Smart Chains.
- This multichain-supported wallet allows connection with the ledger hardware wallets easily.
- The inbuilt security keyphrase and login password keep the user secure and safe everywhere.
- Easy to synchronize user accounts between the app and an extension.
In light of these compelling features, developing a crypto wallet similar to the Binance Trust Wallet is a worthwhile business idea. The team of professional developers, experienced experts, and top-class development approaches from a reputed crypto wallet development company could add significance to your crypto wallet like Trust Wallet.
Final Verdict
So far we have seen everything about Binance Trust Wallet and how to develop a similar crypto wallet efficiently. As an aspiring startup, you may gain knowledge about how secure is Binance Trust Wallet and what features make them lead the industry. Considering the future scope and increasing demand for such wallets, you may be ready to build a crypto wallet for your business. The development methods and connected cost approximations discussed in this article could help you in that regard. So choose the right development method from a reputed crypto wallet development company to take your crypto wallet business to global space like Binance Trust Wallet.
