One of the most amazing things about cryptocurrency and NFTs is that it is decentralized, meaning that control over finances and purchases lies in the userbase, not any institution. However, this is a difficult concept for many newcomers to the NFT world to understand. Luckily, digital wallets such as Trust Wallet, which earned its leading position thanks to its reputation and not institutional support, are here to help.
Trust Wallet is an essential tool that can help you with many transactions on the blockchain, including buying NFT art. Here is how to use this vital tool to build your NFT art collection.
What Is Trust Wallet?
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 via your smartphone and Mac computers if you have the right OS. It is highly rated by trusted sites, including Investopedia.
Trust Wallet is so popular because you can use one wallet to carry out many crypto-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 cryptocurrency variable purchasing fees and network fees).
Trust Wallet works by sending crypto via the encrypted BNB Chain. You can also stake crypto from your wallet and earn interest, so your cryptocurrency can be an even more valuable investment via Trust Wallet.
How to Set Up a Trust Wallet Account
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 crypto world, such as NFT marketplaces.
Trust Wallet works closely with BakerySwap, a decentralized exchange platform, and NFT marketplace. As with Trust Wallet, BakerySwap functions on Binance Smart Chain, which is much less damaging to the environment than Ethereum-based platforms. While Trust Wallet is not compatible with many NFT marketplaces because it is 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 within Trust Wallet and type in Bakeryswap.org. Once you’re on the marketplace, you can browse what’s available, including virtual pets, GIFs, images, etc. You can sort selections by price and other criteria.
Then, swap your currency into BAKE. BakerySwap only accepts transactions funded by BAKE, the marketplace’s native currency. Still, the good news is that you can easily exchange your existing coins for the native currency before making a transaction. Just make sure that you have enough BNB in your Trust Wallet to make the exchange (in your calculations, don’t forget about gas fees).
Once you find an NFT that you want and convert your coins into BAKE, finalizing your NFT purchase is as easy as selecting the NFT you want and clicking “Approve NFT Supermarket.” The NFT automatically gets added to your Trust Wallet under the “Collectibles” section. You can keep your NFT or put it back onto BakerySwap and try to sell it for a higher price.
Luckily, Trust Wallet has detailed instructions on its website to guide you through purchasing NFT art.
Buying NFTs via Trust Wallet
Trust Wallet offers many services to its users that encompass the whole world of fintech and cryptocurrency. It can even help you manage your NFTs. Besides 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, limiting your access to NFT marketplaces somewhat because most require a computer to operate. The easiest way to buy NFTs using Trust Wallet is to go on BakerySwap, the BNB-compatible marketplace. Once you swap your BNB coins into BAKE, BakerySwap’s native currency, the rest of the steps are straightforward 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 explore this volatile but potentially very lucrative investment area easily.