Guest Post by Scopuly: What is Stellar Trustline and how to add a trustline to a token | CoinMarketCap (2024)

FAQs

How do I add a trustline on Stellar? ›

First, we'll have the user create a trustline for an asset by navigating to the Assets page, selecting an asset, and clicking the “Add Asset” button. An asset is displayed as an asset code and issuer address. Learn more in our Assets section.

What are trustlines? On the Stellar network, before a wallet can receive an asset (token), its owner must add a notification indicating that they are willing to accept it. Called “trustlines,” these notifications keep a record of: the balance of credit you hold from the token's issuer; and.

TrustLine uses the California Criminal History System, administered by the Department of Justice, to check the fingerprints of applicants. California's Child Abuse Central Index also is examined for substantiated child abuse reports, and the Federal Branch of Investigation criminal history records are examined.

Stellar (XLM) is a decentralized blockchain platform for faster and cheaper cross-border payments. It aims to connect banks, payment systems, and individuals for seamless money transfer. Stellar Lumens (XLM) is the native cryptocurrency used to facilitate transactions and reduce fees.

Definition. A trustline in the context of cryptocurrency and the broader financial world represents a pre-established relationship between two parties that allows for the extension of credit or the exchange of assets.

Visit the' Home' page to establish trustlines for some of the popular or featured assets, view the asset details or deposit/withdraw tethered tokens. Use the 'Add' button to establish a trustline and add custom assets by specifying the home domain. Keep up with the prices and charts.

Creating a trust line does not expose your wallet to any attack. It just lets your wallet receive the asset in question. It can however result in tax obligations in certain jurisdictions if you receive an airdrop. Caution is advised.