With so many volatile movements in today's economy, many people are looking to cryptocurrency as a way to hedge their bets as a store of value.
It's become so popular that even big institutional investors like banks and hedge funds have begun moving some of their money into Bitcoin and Ethereum.
Because of all the buzz, there's always a new crypto platform with new features coming up.
Trust Wallet has become popular inside this new wave due to its speedy purchasing and security features.
However, users wanting 2-factor authentication will find Trust Wallet lacking, and might be looking for a switch.
Crypto.com has become an attractive option for those looking to move out of Trust Wallet.
They offer 2FA, a crypto debit card, crypto interest accounts, over 250 tradable tokens, and are one of the largest trading platforms out there.
Sometimes switching between crypto platforms can seem... cryptic, but today we're going to help you make your move step-by-step!
Below are the steps required to transfer from Trust Wallet to Crypto.com.
Executing a transfer to Crypto.com is actually pretty simple - with only 3 steps required.
Now, we'll show you how to do all three in more detail.
Before you can send your coins over to Crypto.com, you'll need an account with them first.
Already have your Crypto.com account set up? Skip to step 2!
Follow these steps to open a new Crypto.com account:
So long as your information is accurate and your images are clear, the verification process can be as quick as 5 minutes!
Cryptos are stored inside digital wallets, each with a unique address. In order to send coins between wallets, you'll need the correct wallet address to send it to the right place.
Individual cryptos also have unique wallet addresses as well.
While you'll use a particular app, web platform, or cold storage as your crypto wallet, inside of that account's wallet will be individual wallets for each coin the account can store.
Think of it like having a pocket where you keep your spare change, in addition to holding bills inside your wallet in real life. But, each different pocket has its own specific address.
So, if you wanted to send Bitcoin to Crypto.com, you'd need to make sure you're sending it to your Crypto.com Bitcoin wallet, for example.
If you send a crypto to a wallet that doesn't match, you could lose all the coins you sent forever, so it's really important to send it to the right wallet.
While that can sound scary, locating the right crypto address in Crypto.com is easy:
We'll be using this address inside Trust Wallet to initiate a transfer to Crypto.com.
When your account is opened and verified and you have copied your destination address, it's time to send your crypto:
As you can see, transferring crypto between platforms can seem technical, but once you get the hang of it, it's pretty easy to do - just copying the right wallet address and pasting it into the transaction.
Especially when you're starting out, the different parts of crypto can be very confusing.
With transfers, a good frame of reference is thinking about wallets as a mailing address, with the internal crypto addresses inside like an 'apartment number'.
When in doubt, double-check that your addresses are correct before sending your coins over.
Don't forget to grab your free stock worth up to $200 from Robinhood today!
Get 1 Free Stock Worth Up To $200 From Robinhood!
Don't Miss This Opportunity!
Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.
For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.
