How do I change from BNB to BTC on trust wallet?

by Josh Biggs in Blockchain, Finance on 13th September 2021

What is Binance Coin (BNB)?

BNB was issued as part of an Initial Coin Offering (ICO) running from June 26 to July 3, 2017 – 11 days before Binance opened for trading. Despite the fact that 

The ICO offered 100 million BNB, however Binance is destroying the BNB it holds, so the current total is lower due to the periodic burning. If you want to know more about swap bnb to btc Burning and why BNBs are permanently destroyed

After using the theft of cryptocurrencies from online wallets and exchanges, the developers started thinking about improving the security of users. 2013 became one of the key devices – the world’s first digital device for users. 

In this article, I will try to give a general overview of the products of the wallet industry. We will start with the popular crypto community cold devices, and later move on to less popular models. But before we start, let’s answer the basic question – what is a hardware wallet?

What is a hardware wallet?

Hardware wallets for the cold storage method of cryptocurrencies, since these keys are not in a general-purpose system such as Windows, Mac, Linux, where a huge number of applications, processes and programs are running, strictly intended for this purpose on a microchip. Private keys never leave the device; instead, a signed transaction enters the OS, which does not reveal any useful information to the information program or the attacker.

During the activation of the wallet, it is proposed to set a PIN-code, which will prevent access to the cryptocurrency in case the device is stolen or lost. Most likely, you have already heard about anonymity, blockchain, the impossibility of hacking and decentralization. Full ownership of assets is now at the forefront. Let me give you a trivial example. A bank transaction may be rejected or frozen. Account data are sold on the black market, and exchange crypto transferring funds abroad is not an easy procedure.

  • In the event of a mistake, there is no one to blame. There is no tech support.
  • If the money ends up being stolen – for example by hackers – you can’t go to the police.
  • The moral side of the question: scammers really use this tool.

After adopting the philosophy of cryptocurrency, a practical question arises: where to store?

If we have cash, we need a place under the mattress. If we have electronic money, we must have a service account. If we have online banking, we must have a bank account. In the case of cryptocurrency, you also need to create a place to store it. Now I will show you 3 ways. The first one is difficult but safe. The second is simple and insecure. The third is simple and secure, but paid. Everything is like in life: you can’t eat candy and lose weight.

Focus on the listed characteristics of crypto exchanges and proven trading platforms. This will help you not waste a lot of time looking for a reliable resource. Crypto experts have done everything for you long ago. For example, you can do this on the website yourself.

Top 8 exchanges:

  • StormGain is a platform for those who value anonymity
  • Bybit is a progressive crypto exchange for those who value stability
  • EXMO – an exchange with a wide range of instruments
  • Binance is the exchange with which everyone is SAFU
  • CoinEx is a universal exchange with its own ecosystem
  • Bitfinex – the project that survived the largest hack
  • OKEx – Aggressively Marketing Exchange
  • WhiteBIT is an easy-to-use tournament exchange for traders

How to trade on the selected exchange?

Trading in the cryptocurrency market is based on the leaps of digital assets. Traders and investors make money on the difference in the price of coins. The task of each participant is to constantly monitor fluctuations in the best swap crypto rate and check in time a successful transaction for the sale and purchase of virtual coins.

Categories: Blockchain Finance