One of the most amazing things about cryptocurrencies and NFTs is that they are decentralized, which means that control of finances and purchases rests with the user base, not with any one institution. However, this is a difficult concept to grasp for many newcomers to the world of NFTs. Fortunately, digital wallets like Trust Wallet, which earned its leadership position on reputation rather than institutional support, are here to help.
Trust Wallet is an essential tool that can help you with many transactions on the blockchain, including the purchase of NFT art. Here’s how to use this vital tool to build your NFT art collection.
What is TrustWallet?
Trust Wallet is a cryptocurrency wallet that is one of the best digital wallets out there, thanks to the diversity of its offerings (it supports over 1 million cryptocurrencies) and its easy-to-use interface. You can access it through your smartphone and Mac computers if you have the correct operating system. It is highly rated by trusted sites including Investopedia.
Trust Wallet is so popular because you can use a wallet to do many cryptocurrency-related tasks, including buying countless types of cryptocurrencies, selling your coins, and even trading NFTs. The best part is that you don’t have to pay any transaction fees to Trust Wallet when you buy, sell, or trade (but you are responsible for variable cryptocurrency purchase fees and network fees).
Trust Wallet works by sending crypto over the encrypted BNB chain. You can also stake crypto from your wallet and earn interest, so your crypto can be an even more valuable investment through the Trust Wallet.
How to Set Up a Trust Wallet Account
The first step to using Trust Wallet to buy NFT art is to set up an account. If you already have a digital wallet, you can easily import it from MetaMask and other services.
How to Use Trust Wallet to Buy NFT Art
One of the best features of Trust Wallet is its flexibility and ability to integrate with many features in the cryptocurrency world, such as NFT markets.
Trust Wallet works closely with BakerySwap, a decentralized exchange platform and NFT marketplace. Like Trust Wallet, BakerySwap runs on Binance Smart Chain, which is much less harmful to the environment than Ethereum-based platforms. While Trust Wallet isn’t compatible with many NFT marketplaces because it’s smartphone-based and many marketplaces require a computer to access, you can still buy NFTs through BakerySwap.
The first step is to access BakerySwap. Go to the Dapp browser inside Trust Wallet and type Bakeryswap.org. Once you’re in the market, you can explore what’s available, including virtual pets, GIFs, images, etc. You can sort the selections by price and other criteria.
Then change your coin to BAKE. BakerySwap only accepts transactions that are funded by BAKE, the native currency of the exchange. Still, the good news is that you can easily exchange your existing coins for the native currency before making a transaction. Just make sure you have enough BNB in your Trust Wallet to make the trade (don’t forget gas fees in your calculations).
Once you find an NFT you want and convert your coins to BAKE, completing your NFT purchase is as easy as selecting the NFT you want and clicking “Approve NFT Supermarket”. The NFT is automatically added to your Trust Wallet in the “Collectibles” section. You can keep your NFT or put it back on BakerySwap and try to sell it at a higher price.
Fortunately, Trust Wallet has detailed instructions on its website to guide you through the purchase of NFT art.
Buying NFT through Trust Wallet
Trust Wallet offers many services to its users spanning the entire world of fintech and cryptocurrency. It can even help you manage your NFTs. In addition to offering NFT storage, Trust Wallet gives you easy access to marketplaces where you can buy and sell your NFTs.
Because Trust Wallet is a smartphone-based platform, which somewhat limits your access to NFT markets because most require a computer to work. The easiest way to buy NFTs with Trust Wallet is to go to BakerySwap, the BNB compatible marketplace. Once you exchange your BNB coins for BAKE, BakerySwap’s native currency, the rest of the steps are easy and self-explanatory.
Trust Wallet may not be the first tool many experts think of for NFTs. Still, if you already have a Trust Wallet account, you can use it to easily explore this volatile but potentially very lucrative investment area.