How to Earn Ethereum Using Trust Wallet
In this guide we’ll cover two ways to earn Ethereum using Trust Wallet – namely, using two Web3 protocols, Lido and RocketPool. Trust Wallet allows you to earn crypto in a number of ways, including in-app staking or connecting to protocols via the Web3 dApp browser.
Before you start earning Ethereum using Trust Wallet
Before we dive into how to earn Ethereum using Trust Wallet, you’ll need to create a wallet if you don’t already have one. Trust Wallet is available as a mobile app or you can get the Trust Wallet Extension for your desktop web browser. In this example, we’ll set up a new wallet using the Trust Wallet Mobile App.
Step 1: Download the latest version of the Trust Wallet App.
Step 2: Set up your new wallet
- Open the Trust Wallet app, and choose the option to ‘Create a new wallet.’
- Select an option to back up your wallet.
- Go through the instructions to start using your wallet.
Tip: If you already have a wallet that’s not Trust Wallet, you can choose to import that wallet. In this case, you’d choose the “I already have a wallet” option.
Step 3: Ensure you have ETH in your wallet
You’ll need ETH in your Trust Wallet to cover any gas fees and to use the protocols.
- Use these instructions to buy ETH directly in your Trust Wallet.
- Use these instructions to deposit ETH into your wallet.
- Swap other assets to ETH using these instructions.
How to earn ETH using Lido
Lido is a liquid staking protocol that allows you to stake your ETH without having to lock it up. This means that you can still use your ETH while it is staked, and you can even unstake it at any time. Lido does this by issuing a token called stETH, which is pegged to the value of ETH. When you stake your ETH with Lido, you will receive stETH in return. You can then use stETH to trade, lend, or provide liquidity on DeFi platforms.
Step 1: Connect to Lido
- Select the Trust Wallet Web3 Browser
- Enter https://lido.fi/ into the search part and navigate to the website
- Locate the Ethereum staking section and choose “Stake now”.
- Connect your wallet.
- Select the “Submit” button.
- Follow the remaining instructions to confirm your stake.
How to earn ETH using Rocket pool
Rocket Pool is a staking pool designed for Ethereum 2.0. The protocol is aimed at reducing the financial and equipment requirements for staking on ETH 2.0, thereby enhancing Ethereum's decentralization and security. To accomplish this, Rocket Pool offers a platform for users to engage in trustless staking with a network of node operators. When users stake with these node operators, they are given rETH, a liquid ERC-20 token equivalent to 1 staked ETH that earns yield. As long as users' ETH assets remain staked with Rocket Pool node operators, they have full discretion over their rETH, which includes the ability to engage with other DeFi protocols.
Step 1: Connect to Rocket Pool
- Select the Trust Wallet Web3 Browser.
- Enter https://rocketpool.net/ into the search part and navigate to the website.
- Locate the staking section and choose “Stake”.
- Select “Connect Wallet” and then choose Trust Wallet.
- Confirm the wallet connection.
- Follow the remaining instructions to enter the amount you want to stake then select “Stake”.
The Power of Web3 and Decentralized Protocols
As we come to the end of our guide on earning Ethereum using Trust Wallet, it's important to recognize the transformative power of Web3 and decentralized protocols. Web3, also known as Web 3.0, is the next generation of the Internet where applications interact with decentralized networks. This is a game-changer for financial transactions and introduces innovative ways to earn more crypto.
Web3 wallets, such as the Trust Wallet, provide users the flexibility and autonomy to connect with various decentralized protocols directly. Whether you're staking with Lido or RocketPool, your crypto wallet acts as a gateway to these DeFi services. These protocols allow you to stake your crypto assets, earning rewards while contributing to the security and decentralization of the Ethereum network.
It’s also worth noting that Trust Wallet is easily accessible not only on your mobile device but also on your desktop. It is conveniently available as a Chrome extension on the Chrome web store, making it effortless to manage your assets while browsing the web.
In a nutshell, using a Web3 wallet to interact with open, decentralized protocols can offer numerous opportunities to earn more crypto, and platforms like Trust Wallet make this process seamless and user-friendly.
As we wrap up, remember that the world of decentralized finance is rapidly evolving, and it's crucial to stay updated with the latest tools and protocols that can increase your crypto holdings. Always remember to do your own research and happy earning!