There are many ways make passive income with Trust wallet.
Trust mobile app wallet is one of the very few software wallets that can also help you in storing your cryptocurrency invest in offline.
The ability to make money with the mobile wallet is one of the most appealing features of the app.
In this article, you will discover few ways to make free money with Trust wallet software wallet.
Let’s dive in…
Best ways to make money through Trust wallet
Before taking a look at the ways you can earn income with Trust Wallet, it’s important that you consider the amount of effort you need to invest.
Some passive income strategies are more capital intensive, while some require more research and effort than others.
Note: Cryptocurrencies are susceptible to strong market corrections. If the price of a particular asset you’re HODLing declines, it can affect the percentage of income earned.
Below are the best different ways to earn passive cryptocurrency income with Trust mobile app wallet.
1. Cryptocurrency Staking
One of the most easiest ways to earn crypto passive income with Trust wallet app is through staking.
Staking allows HODLers to earn staking rewards for locking up tokens to support the consensus protocol of a crypto network.
In a sense, staking is when you put your investment into an interest-bearing savings account, except that it pays out in cryptocurrency.
Staking is a good way of making your crypto assets work for you, as they’re generating income, instead of just sitting in your wallet.
Moreover, by staking, you are also able to contribute to the efficiency and security of a blockchain project that you support.
Trust Wallet currently supports in-app staking for six cryptocurrencies, and these staking coins are; BNB, Kava, Cosmos, Algorand, Tezos, and Tron.
2. NFT Investment
NFT farming is a developing concept that involves staking NFTs for a reward or staking tokens for an NFT as compensation.
To learn more about NFTs, read my guide on Non-Fungible Token and how they work.
This NFT investment is essentially similar to yield farming, but the main difference being that the former involves NFTs as either the staked token or reward.
NFT farming builds liquidity and utility for NFTs that would otherwise just be sitting idly in your wallet.
To farm NFT using Trust mobile app, you can use in-app DAppBrowser, or connect to a DEx through WalletConnect to access NFT farming DApps.
3. DeFi Lending
DeFi lending is a popular use case in the fast-growing market, where you take part by lending your crypto investment to others for interest earning.
Leading DeFi lending protocols that you can access directly in Trust Wallet is Aave or Compound.
Compound, for example, is a leading decentralized lending platform that enables you to loan your assets in decentralized lending pools.
When a borrower takes out a loan, they pay interest when they want to pay back.
All lenders receive a distributed share of interest as an incentive to invest their tokens, thus providing liquidity.
Interest rates vary as they are based on supply and demand.
The Trust mobile wallet app allows seamless access to range of DeFi protocols – should you choose DeFi lending as your way of earning passive income.
4. Yield Farming
This is yet another way of earning money with the popular mobile cryptocurrency wallet app.
Using Trust Wallet, you can access a wide range of yield farms on Ethereum, Binance Smart Chain, and other blockchain networks.
Though yield farming is arguably very risky way to earn with crypto, it’s also one of the highest-paying.
5. Automated Market Makers (AMMs)
These are decentralized crypto trading pools that match buyers and sellers using smart contracts.
It’s another excellent way to earn passive income with you crypto on Trust Wallet is by providing liquidity to automated market makers (AMMs).
As an incentive to add liquidity in a trading pool, liquidity providers receive a share of the trading fees plus governance tokens.
Can you make money with Trust wallet directly?
No, you cannot make money directly on the Trust wallet app, but with staking, it’s as good as making money on it by holding crypto-coins and earning passive interests.
What are the disadvantages of Trust wallet?
This is a hot wallet (crypto wallet that needs internet connection to store crypto), which means it does not offer cold storage.
Hot wallets are always online, therefore, more susceptible to hacks and malicious behavior.
Which wallet is better that Trust wallet?
The only type of crypto wallet better than Trust mobile walle app are hardware wallets.
These wallets have very high security standards, and can store your digital asset without the need for internet connection.
Can I earn income on Trust wallet without investment?
If you’re looking for how to make money with trust wallet without investment, then am sorry, because that’s not possible.
The only way to even earn cryptocurrency at-all without investment, is by working for crypto online or offline.
In conclusion
The ability to earn passive income as a crypto holder is one of the most appealing features of the entire ecosystem.
Whether you are lending tokens in decentralized lending pools or staking coins, it’s good to learn how to earn money with Trust wallet.
There are a plethora of opportunities to make money with the mobile wallet app.
Don’t forget that to keep your security high, you must have to hide your crypto transaction footprints with a No-Log VPN service.
