In wELCASH We Trust. The Wrapped Token Is Now in Binance’s Official Wallet
wELCASH, a token representing ELCASH on BSC, got a green light from Trust Wallet — the official digital wallet of Binance — and will be accepted into its repository. Users will be able to use wELCASH with peace of mind, knowing that the token has been approved by reputable auditors and can be trusted.
Crypto projects rely on trust. Without the background that exists in the traditional world of finance, users need assurance that the projects that have caught their eyes are legitimate. Having a whitepaper that explains the underlying fundamentals and technological foundations helps to separate the credible from the fraudulent. Another factor of paramount importance is knowing you are dealing with reputable and dependable parties.
Such is the case with wELCASH. A BEP-20 token representing ELCASH on Binance Smart Chain has just announced that Trust Wallet will support it. It’s Binance’s official decentralized crypto wallet which stores users’ private keys outside Binance, keeping crypto funds safe and accessible.
What is Trust Wallet and How Does It Work?
Trust Wallet helps users manage their addresses to send and receive crypto. Users can also use the application to perform other crypto transactions, including trading and staking. However, the wallet neither keeps users’ personal information nor holds any funds. It rather acts as a bridge connecting users to individual blockchains where funds are stored.
Trust Wallet is free to download and use. The fees displayed in the application are intended for the miners and blockchain validators. Trust Wallet does not gain anything from these fees. At this moment, the application has 10 million users.
How Can You Benefit from Using Trust Wallet?
With Trust Wallet, buying crypto is as fast as ever. Without any exaggeration, it takes only 5 minutes. Users who start their journey with this app will quickly notice the various advantages of exchanging and earning crypto with Trust Wallet. Also, the application works superbly as a place to collect NFTs. With this tool, you can easily view all your collectibles anytime you want.
Crypto assets can serve as a form of savings. Nowadays, many crypto users are keen on earning interest on crypto. Trust Wallet offers various options for crypto holders, which help preserve liquidity and provide users with excellent support.
Trust Wallet is also one of the safest applications on the market. It uses an industry standard to encrypt wallets and secure the recovery phrase. Access to crypto assets is safe from scammers and hacking attacks because of all these elements.
Requirements and Acceptance Guidelines
Using Trust Wallet requires some effort from both users and the crypto creators who want their projects listed in the wallet’s repository. For the latter, strict criteria need to be met. First off, the project must have a website and a detailed whitepaper. A clear roadmap, tokenomics, and use cases are also necessary.
Aside from that, the project ought to have a social media presence and support team. If the company has fake followers or uses bots, it will be detected quickly. Furthermore, the token will have to undergo a supervised audit by a reputable security group. Partial inspections are possible later.
Being a copycat is a road to nowhere. All incidents with plagiarized content from other projects or companies, including names or logos, will be exposed quickly. The token should be listed on price tracking sites such as CoinMarketCap. Finally, the project should also have at least 20,000 holders and 20,000 transactions.
The Trust Wallet application works mainly with blockchains in the Ethereum ecosystem. However, it also works with any ERC20, BEP2, and ERC721 tokens and it can also support Bitcoin. The team behind Trust Wallet has also added support for Binance Smart Chain. Every month more cryptocurrencies are added to the wallet.
ELCASH is an innovative coin that simplifies everyday transactions. Its wrapped version allows users to make the most of the smart contracts and decentralized applications (DApps) offered by the Binance Smart Chain ecosystem, including swapping, staking, liquidity mining, yield farming, and Decentralized Autonomous Organization (DAO) governance.
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