GUIDE: How To Buy Bitcoin on Trust Wallet

Trust Wallet allows users to buy Bitcoin for several reasons. Firstly, Trust Wallet is a popular Web3 wallet that supports multiple cryptocurrencies, including Bitcoin. It provides a user-friendly interface and seamless integration with decentralized exchanges (DEXs). It also has a built-in swap feature that allows you to trade cryptocurrencies like ETH or BNB.

Is it possible to trade Bitcoin directly on Trust Wallet? This article will give you a detailed answer on all options you have to use Bitcoin on Trust Wallet:

• How to buy Bitcoin on Trust Wallet
• Trading Bitcoin vs holding Bitcoin on Trust Wallet
• How to swap ETH to WBTC on Trust Wallet

How To Buy Bitcoin On Trust Wallet(3 Steps)

In this guide, we’ll assume you are new to crypto and have never used a crypto wallet like Trust. Therefore, we’ll start at level zero where you have to set up and install this wallet first.

Of course, you can skip some steps in this buying process if you already use this wallet regularly. That being said, let’s kick off from here 👍

Step 1: Download Trust Wallet

Download Trust Wallet from the App Store or Google Play Store for free. If you prefer a desktop, you can download the Google Chrome extension by going to the Trust Wallet website.

Besides, don’t forget to verify first if you are visiting the official Trust Wallet website. Otherwise, you risk downloading a fake wallet.

Step 2: Setup Your Trust Wallet

After downloading Trust Wallet, follow the steps to set it up. It’s actually really easy.

1. Click ‘Create a new wallet‘
2. Create a secure password
3. Secure your secret recovery phrase
4. Congrats! Your wallet is created

The most important part of setting up any self-custody wallet like Trust Wallet is recording your 12-word secret recovery phrase and storing it in a safe place.

Your secret recovery phrase is the key to your wallet and the funds within. Whoever has your recovery phrase has control of your funds. So make sure to keep it secure.

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In other words, besides a password, you also need to secure the 12-word recovery phrase. The password gives access to your device, where the recovery phrase will allow you to do transactions on the blockchain.

Therefore it is important to write it down and lock it away in a safe place. Preferably in an at-home safe that is both fire and waterproof.

Never store your wallet’s private key online such as in a cloud or any files on your phone or computer.

If you lose your recovery phrase, there is no way to recover it or your wallet.

❗ TIP – A good option for securing your recovery phrase is to use a stainless steel crypto wallet that can survive about anything, from fire to acids, and lasts more than 20 years.

Step 3: Buy Bitcoin on Trust Wallet with a Credit Card

At this point, you are ready to go and use Trust Wallet. However, there aren’t any funds yet to trade or sent away.

The quickest way to fund your wallet is to buy Bitcoin from within the app with a credit card. Below are the steps to buy Bitcoin on Trust Wallet with a credit card:

1. Login at Trust Wallet, find the BTC symbol, and click on it
2. The BTC wallet opens where you have to click on Buy
   
3. A new screen opens to select a third-party provider to buy $150
4. Choose a provider, give the amount, and click Next
   
5. To finalize the transaction you will be redirected to the app of the chosen third-party provider(E.g. Moonpay)

Remember that buying Bitcoin with a credit card on Trust Wallet is expensive. For instance, at Coinbase you can buy BTC at 0.1% in the order books. Using a credit card will cost you 5% extra.

All in all, using Trust Wallet to Buy Bitcoin is the fastest way to acquire new crypto with money.

Recommended: How to withdraw money from Trust Wallet without Binance

Buy Bitcoin on Trust Wallet vs Trading Bitcoin on Trust Wallet

Suppose you have bought some Bitcoin on Trust Wallet and have the funds stored safely there, what’s next? If you want to hold your Bitcoin as an investment then you are ok and good to go.

However, if you had the intention to use this Bitcoin and trade it against other cryptocurrencies then I have to disappoint you. Meaning, Trust Wallet is a multi-coin crypto wallet where you can store a lot of cryptocurrencies like Bitcoin, Ethereum, or Solana.

Trading Bitcoin won’t work on Trust Wallet as Bitcoin can’t be used on DEX’es like Pancakeswap or Uniswap. For trading Bitcoin directly, you need a cryptocurrency exchange like Binance or Coinbase.

In addition, the only other option you have to use Bitcoin on DeFi platforms like Uniswap is to convert it to Wrapped Bitcoin. In short, Wrapped Bitcoin(WBTC) is an ERC20 token on the Ethereum blockchain that represents the value of 1 entire Bitcoin.

All in all, if you have the intention to use your BTC to trade it on DeFi platforms then you have to trade it to ETH first. In the next chapter, I’ll explain to you how to use ETH and convert it to WBTC.

How to Swap ETH for Bitcoin on Trust Wallet

Again, if you want to use Bitcoin on Trust Wallet besides holding, then you have to use Wrapped Bitcoin(WBTC). The most common option you have is to deposit ETH first and trade this for WBTC.

Step 1: Transfer ETH to your Trust Wallet

To transfer ETH to Trust Wallet you have to use your wallet’s public address — a unique identifier on the Ethereum network.

To find your Trust wallet’s public address, click on ‘Receive‘ button above in the menu. Once clicked, a huge QR code appears below the public key(Something like this: ‘0x37d0cc00a6fb08ffb68435fec2ef05b05beaceff’)

Then, click the ‘Copy‘ icon below to store the address in memory.

Once you have your wallet’s public address, you can transfer ETH from the centralized exchange by pasting the address into the “Recipient” field.

This will send the ETH directly to your Trust wallet.

Step 2: Add WBTC symbol to Trust Wallet

The next, step will be to make the WBTC token available in your Trust Wallet app. This can be very easily realized:

1. In the app tap on Add tokens
   
2. Type WBTC in the search bar and click the first result
   
3. Toggle green and click the done button
4. Finally, the WBTC token is added to Trust Wallet

Step 3: Swap ETH for Bitcoin(WBTC) using PanCakeSwap

Consequently, with ETH in your wallet, you are ready to swap ETH for $WBTC. WBTC has zero taxes so you don’t need to worry about buying with a specific slippage.

However, you may need to use slippage during times of market volatility.

To illustrate the exact steps, I’m showing you how to do this from the Trust Wallet on my Apple device:

1. Open your Trust Wallet App and make sure you have some ETH funds here
   
2. Below is the menu bar tap the Browser(square) option
3. In the upper search bar type ‘Pancakeswap‘
   
4. Click on the first search result
5. Connect your wallet with PancakeSwap
   
6. Make sure to choose Ethereum as Blockchain
   
7. Enter the Swap data(ETH for WBTC)
   
8. Finalize the transaction

Take note that if the transaction won’t go(because of high traffic), you have to modify the slippage. The default is this value set to 0,5. Additionally, you can switch to higher levels(for instance 3%) to make transactions go through. At this point, you are the owner of some brand new Wrapped Bitcoin(WBTC).

Finally, if you want to cash out $WBTC all you need to do is swap it back to your cryptocurrency of choice, the same way you swap ETH to $WBTC.

The two most popular options are ETH and USDT. From there you can send it to a centralized exchange to cash it out for fiat and transfer it into your bank account.

Related: 3 ways to sell Ethereum on Trust Wallet

FAQ – How To Buy Bitcoin on Trust Wallet

How Much Does It Cost To Buy Bitcoin on Trust Wallet?

This guide is explained how to buy Bitcoin directly from within the app. You can do this by using a credit/debit card and connecting to a third-party wallet provider. It’s a very quick and convenient way to purchase Bitcoin, however, expensive as you have to pay about 5% of the transaction fee.

How Long Does it Take To Buy Bitcoin on Trust Wallet?

You can buy Bitcoin at a minimum of $50 on Trust Wallet. It can be done with a credit or debit card and the entire process will last about 5 to 15 minutes.

Is Buying Wrapped Bitcoin on Trust Wallet Safe?

It definitely is. To buy WBTC using Trust Wallet and PancakeSwap is a very reliable option, however, it isn’t an easy exercise. If you are new to crypto it’s recommended to open an account at Binance or Coinbase first.

Is Buying Bitcoin on Trust Wallet Worth It?

It’s worth buying BTC on Trust Wallet if you want to own your crypto. The problem with buying crypto on a centralized exchange is that you don’t actually own it, the exchange does. Using Trust Wallet enables you to own your wallet’s private key and thus your Bitcoins.

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