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How to Earn Bitcoin Using Trust Wallet
September 25, 2023
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In this guide, we’ll cover how to earn Bitcoin using Trust Wallet. We’ll do this using the Venus Protocol and earning BTCB, which is a pegged version of Bitcoin that’s on the BNB Chain. Trust Wallet allows you to earn crypto in many ways, including in-app staking or connecting to protocols via the Web3 dApp browser. Additionally, features like the Trust Wallet Security Scanner help to keep your entire Web3 experience safe.
 

Before you start earning Bitcoin using Trust Wallet

Before we dive into how to earn Bitcoin 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

067a9dedec9140148b924e12bdc8ec96.png
  • Open the Trust Wallet app, and choose the option to ‘Create a new wallet.’
  • Choose a method 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 BTCB in your wallet

Note: To earn Bitcoin with Venus Protocol, you need BTCB - a pegged version of BTC that’s on the BNB Smart Chain (BEP20). You’ll also need this to cover any gas fees.
 
ce74fbe382a64cbcb02785741b49e2b2.png

There are a number of ways get BTCB into your wallet, including the following.

  • Deposit or buy BTC on the Bitcoin blockchain and then swap it to BTCB on the Binance Smart Chain (BEP20). This requires a couple of steps as you currently cannot directly swap BTC to BEP20 assets. Please see here for instructions (view the section on How to swap BTC or ETH to BEP20 tokens).
  • Deposit BTCB (BEP20) directly using these instructions.
  • Swap another BEP20 asset to BTCB (BEP20) using these instructions.

Once you have BTCB in your wallet, you’ll be ready to start earning using the Venus Protocol.

 

What is the Venus Protocol?

Venus Protocol is a DeFi (decentralized finance) money market platform operating on the BNB Smart Chain. It allows for the lending, borrowing, and minting of synthetic stablecoins (VAI), all collateralized by user-supplied assets. Venus is a fusion of concepts from Compound and MakerDAO, two Ethereum-based protocols, and brings together functions of lending and stablecoin minting within a single system. In this permissionless lending environment, users can earn interest on their collateral, or borrow against it, by participating in the platform's lending and borrowing services.

How to earn BTC using Venus Protocol and Trust Wallet

Step 1: Connect to Venus Protocol

  • Select the Trust Wallet Web3 Browser.
  • Enter https://app.venus.io/ into the search bar and navigate to the website.
  • Select “Connect wallet” and then choose “Trust Wallet”.
7a610452f7304d0e8b6760b61a5136f6.png
  • Connect your wallet, and select “Let’s get started”.
  • Tap the BTCB section, then choose your amount.
785b4e807f8c47de92727ec154578d8e.png
  • Once you’ve chosen your mount, located the “Approve BTCB” button, and select it.
  • Confirm the smart contract call.
2e55f0c1063b4645827f1cfea23cd5d0.png
  • Select the “Supply” button, then approve the smart contract call.
  • Now your supply is successful and you will start earning rewards.
96f45960cef54a85bd4688bf4f3b6001.png

Earning and claiming your rewards – things to keep in mind

  • In addition to earning BTCB, you also earn XVS, as shown in the above process. Once you earn the rewards, you can choose to swap the XVS rewards for additional BTCB (or any other swap pair asset offered) from within the Venus Protocol dApp.
  • You can use the in-app swapping feature of Trust Wallet to swap from BTCB back to BTC on the Bitcoin chain. With Trust Wallet, you have the freedom to approach this as you wish. If you do want to swap BTCB to BTC, just remember this will require a couple of steps as outlined here.

The Power of Web3 and Decentralized Protocols

As we come to the end of our guide on earning Bitcoin 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 Venus Protocol or any other decentralized protocols, your crypto wallet acts as a gateway to a number of DeFi services and a world of Web3 experiences.

It’s also worth noting that Trust Wallet is easily accessible not only on your mobile device but also on your desktop. It’s conveniently available as a Chrome extension on the Chrome web store, making it effortless to manage your assets while browsing the web. Plus, features like the Trust Wallet Security Scanner help keep your assets and Web3 experience safe and enjoyable.

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!

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The Dinarian On Locals is a labor of love that I pour my heart and soul into during my personal time. Countless hours are dedicated to delivering you the most up-to-date, unfiltered, and authentic news and information. Your support means the world to me, and I invite you to consider making a donation or becoming a dedicated supporter of this project. Any amount of XRP donations can be sent to XRP address: rqEy1PDACRg3p9RaVEZz6jU1g9RgguP91 or by scanning the QR code below and are not only appreciated but needed... 


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The Possible Impact Of USDC On The XRP Ledger And RLUSD
Key Points
  • It seems likely that USDC on the XRP Ledger (XRPL) boosts liquidity, benefiting XRP, though some see it as competition for RLUSD.
  • Research suggests both stablecoins can coexist, enhancing the XRPL ecosystem.
  • The evidence leans toward increased network activity being good for XRP, despite potential competition.

The recent launch of USDC on the XRP Ledger has sparked discussions about its impact on the ecosystem, particularly in relation to RLUSD, Ripple's own stablecoin. This response explores whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Impact on Liquidity and XRP

The introduction of USDC, a major stablecoin with a $61 billion market cap, likely increases liquidity on the XRPL by attracting more users, developers, and institutions. This boost can enhance DeFi applications and enterprise payments, potentially driving demand for XRP, the native token used for transaction fees. While some may view it as competition for RLUSD, the overall effect seems positive for the XRPL's growth.
 

Competition vs. Coexistence with RLUSD

USDC and RLUSD cater to different needs: USDC appeals to those valuing regulatory compliance, while RLUSD, backed by Ripple, may attract users preferring ecosystem integration. Research suggests both can coexist, increasing options and fostering innovation, rather than purely competing.
 

Detailed Analysis of USDC on XRPL and Its Implications

The integration of USDC on the XRP Ledger (XRPL), announced on June 12, 2025, by Circle, has significant implications for the ecosystem, particularly in relation to RLUSD, Ripple's stablecoin launched in 2024. This section provides a comprehensive analysis, exploring whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Understanding RLUSD and Its Role

RLUSD, Ripple's stablecoin, received approval from the New York Department of Financial Services (NYDFS) in 2024 and is designed to be fully backed by cash and cash equivalents, ensuring stability. It is available on both the Ethereum and XRP Ledger blockchains, aiming to enhance liquidity, reduce volatility, and serve cross-border payments. With a current market cap of $413 million, RLUSD is smaller than USDC's $61 billion but has regulatory credibility, particularly appealing to institutions.
 

Impact of USDC on the XRPL

The launch of USDC on the XRPL is a significant development, given its status as the second-largest stablecoin by market cap.
 
Key impacts include:
  • Liquidity Boost: USDC's integration can attract more users, developers, and institutions, increasing overall liquidity. This is crucial for DeFi applications, as Circle's announcement emphasizes its use in liquidity provisioning for token pairs and FX flows.
  • Increased Utility: USDC enhances the XRPL's utility for enterprise payments, financial infrastructure, and DeFi, potentially making it more attractive for global money movement and transparent settlements.
  • Regulatory and Institutional Appeal: As a regulated stablecoin issued by Circle, USDC can bring institutional users to the XRPL, aligning with Ripple's goals for regulated financial activities.
  • Network Growth: Supporting a widely recognized stablecoin like USDC on 22 blockchains, including the XRPL, increases the network's visibility and adoption, potentially driving more activity.

Competition vs. Complementarity with RLUSD

While USDC's launch could be seen as competition for RLUSD, the evidence suggests a more nuanced relationship:
  • Competition: Both are stablecoins on the XRPL, and USDC's larger market presence ($61 billion vs. RLUSD's $413 million) might attract users and developers away from RLUSD. However, competition can drive innovation, such as lower fees or better services, benefiting the ecosystem
  • Complementarity: Different stablecoins cater to different needs. USDC appeals to users valuing regulatory compliance and widespread adoption across multiple blockchains, while RLUSD, backed by Ripple, may attract those preferring ecosystem integration and regulatory approval from NYDFS. The XRPL can benefit from having multiple options, increasing liquidity and fostering a diverse ecosystem.
  • Coexistence Benefits: Research suggests that having multiple stablecoins enhances liquidity and provides users with more choices, potentially leading to higher network activity. For example, institutions might use USDC for global payments and RLUSD for specific XRPL-integrated applications, creating a symbiotic relationships.

Impact on XRP

The introduction of USDC, alongside RLUSD, is likely beneficial for XRP, the native token of the XRPL, for several reasons:
  • Increased Liquidity and Activity: Higher liquidity on the XRPL, driven by both stablecoins, can increase transaction volumes. XRP is used for transaction fees, with some fees burned, potentially reducing supply over time and increasing demand.
  • DeFi and Enterprise Use Cases: Both USDC and RLUSD enhance DeFi and enterprise applications, such as liquidity pools and cross-border payments, which can drive demand for XRP as a settlement token.
  • Network Growth: A more liquid and active XRPL is more attractive to developers and users, potentially leading to long-term growth for XRP, as increased utility can drive its value.
Expert analyses, such as those from u.today and ledgerinsights.com, suggest the launch is a "massive boost" for liquidity and adoption, with RLUSD also playing a significant role.
 

Comparative Analysis: USDC vs. RLUSD

To further illustrate, consider the following table comparing key attributes:
 
Given the evidence, it is more accurate to view the introduction of USDC on the XRPL as beneficial for liquidity, which is ultimately good for XRP, rather than solely as competition for RLUSD. The XRPL benefits from increased options, with both stablecoins enhancing liquidity, utility, and network growth. While some competition exists, the overall impact is positive, fostering a robust ecosystem that can drive demand for XRP. This conclusion aligns with expert analyses and community discussions, acknowledging the complexity of the stablecoin market within the XRPL.
 

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