The Trust Wallet team has just unveiled an exciting new feature for its cryptocurrency wallet application.
Users can now directly convert their digital assets into fiat currency using the app.
This new functionality has been made possible through the partnership between Trust Wallet and two crypto payment providers, Ramp and MoonPay.
Eric Chang, the Head of Products at Trust Wallet, has expressed his enthusiasm for the launch and revealed that users who hold more than 100 Trust Wallet Tokens (TWT) will benefit from reduced conversion fees.
It’s worth noting that Trust Wallet is a hot wallet, meaning it operates as long as it’s connected to the internet, and not a cold or hardware wallet.
While the wallet developers are constantly improving their data protection systems, hot wallets still don’t offer users full control over private keys and are vulnerable to online threats like viruses and hacks.
Unfortunately, in January, Bo Shen, one of China’s most prominent cryptocurrency investors and founder of venture capital firm Fenbushi Capital, had one of his Trust Wallet wallets hacked, resulting in the loss of over $40 million worth of assets.